A property is a valuable asset that can grow your wealth in the long run. That is why it is extremely important to buy or invest in the right properties because the cost of making a mistake can have a huge impact and can have an adverse financial effect. Property-related setbacks and bad decisions can create untold worry, stress, and tensions, which achieve the opposite outcome of what successful investing is all about. To help you excel on your property buying journey Poddar Groups the most trusted real estate promoter in South Kolkata has gathered some of the basics that you should know while buying a property in Kolkata.
AlwaysEvaluate Your Requirements
Buyers need to have a clear head in terms of their requirements. Many times, buyers look for king size apartments and, in some cases, the requirements are that of modular kitchen, big garden, affordable budget, calm locality, and the list goes on. It is extremely important for them to first figure out their needs and then start looking for a property. You must be clear about the size, type, and the kind of apartment you are looking forward to before investing.
New or Resale
Another crucial factor is to decide and know whether investing in new or re-sale property will be beneficial for you. Take time to analyze the worth of both new and re-sale property based on your needs and lifestyle. Resale properties are priced less in comparison to new properties. Make sure that the cost of the renovations is not too high in case of resale properties.
Available Amenitiesin the Locality
An important thing that should be considered by buyers is the standard of living a particular locality provides. It’s not only the nearby grocery stores, schools, malls, and hospitals that help in making a decision. Rather, the amenities and facilities available within the residential housing project matters a lot. For children and senior citizens amenities such as a medical center, swimming pool, children play area, clubhouse, among others, should be within the residential area so that they don’t have to venture out to play and socialize.
Choosing the Right Location
The most important task is selecting the right location and also one of the most complicated aspects of property buying. Every buyer has their own set of preferences like distance to the workspace, metro station, malls, bus stops, school, etc. The area must be well-connected to the other parts of the city. As a buyer, you need to identify the right location that matches well with your needs.
Infrastructure is also one of the key factors that should be kept in mind while investing. You should make sure that the place you are investing in is equipped with all the health care facilities, public transport, schools/colleges, grocery stores, parks, and other facilities. Whether an end-user or an investor, surrounding infrastructure matters a lot as it decides the livability factor of the locality.
Check for Project Approvals
Before investing your hard-earned money in a property, it is important that you check and enquire about the project approvals and make sure that the Kolkata Municipal Corporation has approved all the Plots, Plans, and Title. Being a buyer, you have all the right to demand documents associated with approvals procured from the local authorities.
Be Prepared for Hidden Costs
Hidden costs can take you by surprise and upset your budget as a property buyer. These hidden costs normally increase the total cost and stand as a big obstacle in handling the expenses. These hidden costs may include maintenance deposit, registration cost interior cost, parking space cost, etc. So, it is necessary to be well informed of these costs and be ready for this additional expenditure.
There are many legalities involved when you are buying propertiesthat are difficult to understand. Always try to get help from real estate advisors that can help you with legal issues also such as transferable title, stamp duty charges, no-objection certificate, tax, etc. You can take help from Poddar Groups real estate promoters because we handle each and everything for our customers and help you in making the right decision.
Before making any investment, you must do a proper check of the real estate market and the credibility of the developer. The check should be composed of market presence, status on the undergoing and completed projects, and reviews of the previous buyers. It will assist you in getting an idea about the capability of the developer. Poddar Groups have sold 350+ positive property sales ensuring customer satisfaction, has 35+ ready to sale properties, and 10+ projects that are under construction and have emerged as the most prominent real estate promoter in Bansdroni. If you have any questions you can also take benefit from our free consultancy services.
Categorised in: Our Blog
This post was written by admin