Checklist for property buyers
- By Admin
- Mar 20, 2020
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Are you in the quest of buying a property? Are you confused with the types of available properties to choose from? Then, here is the checklist for the property buyers to ensure before finalizing the property to avoid the complications and risks that arise during the process.
Is the property RERA registered?
Choose only the project which is RERA registered as it acts as the first approval. The approval of RERA is done only if the approvals from the municipal corporation, electricity and water department is completed. Get a property only if it is RERA certified.
Are all necessary details available?
The RERA registered property carries all the necessary information in the RERA website itself. It is recommended to choose properties which have provided all the details on the RERA website.
Is the real estate builder financially strong?
Analyse the financial status of the real estate builder. You can get to know information if you check on the available ongoing projects to get clear information about the works of the builders. You can also check if they delivered the projects on time. It is not suggested to choose a real estate builder who has got into trouble with other projects. Also, try to avoid builders who have got too many consumer complaints.
Check on the locality of the property
Facilities which are accessible inside the property are mentioned by the builders itself. But it is essential to visit the infrastructure before finalizing to check if it matches your requirements. You should be updated about the social surrounding to live a better life. Get information about the upcoming projects also and learn about the nearby hospitals, educational centres and certain things which are necessary to lead a better life.
Is the provided timeline reasonable?
The completion date will be mentioned on the website itself. The RERA approved projects impose a penalty to the projects which violate the deadline. Thus, the builders usually provide a long timeline and promise that the project will be completed before the deadline. It is advised not to choose the deal if you don't find the timeline feasible.
Is the estimated cost reasonable?
Ensure that the price of the property is reasonable. You can also try ratios to analyse it. you can also check for discounts for the property before finalizing it.
The above metrics are to be kept in mind before choosing a property in order to survive a better living in future. You should think about future developments also as it will highly increase the prospect of the property.
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