The real estate market in India is expanding at fast-moving phase and is expected that more than 12% GDP would be contributed from the real estate sector in the next decade. If you are planning to purchase a home for yourself, then it can be very confusing and intimidating at first, so proper research and information is needed before making any big decisions. Here is the list of things that may help you before buying any homes that are under construction.
Is Your Project RERA Approved?
If you are investing in real estate, it is better to spend money on those which comes under Real Estate Regulatory Act (RERA). This ensures that the projects are completed within the deadline, and those projects are done in ethical ways. Also, the water connection, electricity, corporation and all the essential things will get approved under this act, so there is no need to worry about any legal stuff.
Legal Checking is Essential.
This is a crucial step to take if you are investing in a vast project. This step makes sure that you are not getting into any legal troubles, so get a lawyer who can check all the documents like title deeds, approval documents, approvals from the Municipal Corporation, etc.
Did You Visit the Construction Site?
It is essential and significant to visit the project site that is under construction, the amenities and all the extra facilities that are promised to you should match the work in progress. This also allows you to check around the surroundings of your project site and ensure there are necessary facilities like hospitals, transportations and schools.
Are You Monitoring the Project Deadlines?
Ensure to keep track of the project deadlines, and some developers may not complete the project on time and request for extension. If those projects come under RERA, it will be updated on their website so always keep an eye on the updates regarding your project.
Are you Aware of Loan and EMI Options?
Check all the options available before choosing the best option for you, go through all the banks and see what they offer. It will be easier to sanction loan if you are buying property from a trustable and well-known construction company and especially if it is approved by the RERA. So research all your loan and EMI options before investing.
The above list can be very useful while buying your under-construction projects. If you are looking for great homes under construction, then check out My Property Boutique in Chennai. The experts in the company will help you to find any projects that are suitable for you. With My Property Boutique, you have so many options to explore before investing.