Real estate is always a great investment option. While you may have heard stories of quick resales fetching a much higher price and making the news, rental income forms the core of real estate investment value. That’s because historically there has been very little appreciation of the real price of houses. The rent generates a constant monthly income, like a classic utility stock that pays dividends. If the value of your property increases, then that should only be seen as an added bonus to your steady stream of income. But making a real estate investment in a residential or commercial property is not equivalent to a low-cost index fund. Carpet Area: Most projects only declare the overbuilt area, which means you will be charged for one square foot that you never use including thickness of walls and certain common areas. Carpet area is the actual area you will be living in, so it is important to understand how much carpet area is for the space. Under RERA, builders can no longer charge you a per-square-foot fee based on overbuilt area. They should charge you based on the area of the carpet only, so it is important that you have a clear idea about it.
Construction quality – If the builder has past projects that were completed, ask previous buyers about the construction quality. You should also check the quality of the tiles and the brand of bathroom fixtures that you will be using for your project. If you are using outside contractors for construction, then you should check the market reputation of these contractors for the quality of construction.
Other Costs: Price is typically quoted as a per square foot rate and this does not include GST, registration fees, clubhouse registration, and any other fees not included in the price quoted by the builder. GST has affected the cost of the projects, so it is better to check the final price that includes all these charges before making a decision.
Check Certificates of Completion or Occupancy: If you are purchasing a finished project, ask to see the certificate of completion before making your purchase. You can also check if all the permits have been obtained from the municipal authorities.
Litigation Issues: If you are buying single owner or resale properties, check to see if there is any litigation or dispute over the property. Even a builder should be able to provide you with the agreements with the land owners and clear documents showing that there is no pending litigation on the property.
Lastly, each builder has a separate payment plan. To plan your payments and if you need enough time to apply for a loan, be sure to get a detailed payment plan from the builder so you can manage your finances wisely. http://blog.pinclick.com/tag/house-for-sale/, http://blog.pinclick.com/tag/real-estate-india/ty-guide/