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One10- 5 Things to Consider While Buying Apartments in Budget

If you're a first-time home buyer looking for apartments in budget then you will look few things before making any decision. Here are the top 5 points that discussed what to look in any real estate assets while signing the deal.

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One10- 5 Things to Consider While Buying Apartments in Budget

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  1. One10 5 Things to Consider While Buying Apartments in Budget

  2. Legal Documents • Prospective buyers should check and verify the details of the legal documents before the finalisation of the deal. • The documents carry vital information of the transfer of property from the builder to the buyer. • Completion certificate (CC) of the property referring to the completion of construction of the property. • Buyer should ask for the building plan, mutation certificate as well as an encumbrance certificate.

  3. Scout The Location • Buying an apartment on a budget does not mean you have to compromise with the location of the property. • Builders may offer properties at unfavourable locations in the name of offering budget apartments. • Affordable apartments at strategic locations, giving buyers an opportunity to enjoy the standard living lifestyle. • Make sure to consider the value of the location by assessing the nearby social and civic infrastructure.

  4. Record of the Land • Verify the land record of the property you are planning to buy. • The record should have the geological information and data about the plot of land. • Understanding the land record will help you know if your apartment has been built on land that is fit for construction. • Having the hold of records can also help you understand the tax calculations of the property.

  5. Reputation of Builder • Reputation of a builder becomes an extremely important factor to consider before making a purchase decision. • Must look into developer’s reputation & reliability when purchasing a flat in New Town, Kolkata. • The buyer should undertake due diligence on the developer to determine its market credibility and financial ability to complete the project on time.

  6. Look for Additional Charges • Apartments can seem affordable at first glance, sometimes you do not get hold of the actual price quote until later. • Ask for any hidden charges that may get added while signing the deal. • Additional charges such as stamp duty, registration charges, maintenance and parking fees often increase the initial quoted price. • Often, flats within a budget may not come with furnished interior decor. • Ask your builder for any additional charges that may come up during the transfer of the property.

  7. Thank You

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