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While buying a home, an apartment, a villa or a plot of land, it is essential to have all the information before you make any decisions. <br>
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While buying a home, an apartment, a villa or a plot of land, it is essential to have all the information before you make any decisions. There are a lot of residential plots for sale in Bangalore and you must certainly do your due diligence before you invest in one. Ask the developer what kind of title he holds to the land. - Ask to see the sale deeds of the person he bought the land from. Also check if they have got NOCs and permissions from all the relevant authorities. This is very important to ensure you don’t run into legal trouble later on. When will the project be finished? - Always ask your developer this question. Insist that they commit to a date of delivery, if possible in writing. Typically real estate projects can undergo some delay but it shouldn’t be more than a couple of months.
What is the total land area under consideration for the project and what will be built? Is the construction going to happen in phases? If yes, how? - All these are very important questions. Your builder will typically give you a brochure that explains all of this. They will also have a sales executive sit with you and share all this information with you. You might want to book your property based on this info. If you want possession early, you may want to pay a little extra and buy your property in whichever phase is going to be ready soon. What are the sizes of the plots currently available? - Residential plots in Bangalore come in all shapes and sizes. From tiny to very large, from rectangular to slightly skewed. Choose according to the house you have planned. You don’t necessarily need a huge piece of land to build a beautiful house. Also think about issues like cleaning and maintenance before deciding the size of your plot and the subsequent size of your house.
Can I see the plot before I decide to buy? - You would usually go to the real estate developer’s corporate office to find out more about the project. But that is not the place to decide if you will buy or not. Insist on seeing the plot firsthand. Go ahead, inspect the land, spend a little time there, discuss with your family and then only decide to buy. Is it a gated community? - Find out what value addition you will get along with the land you buy. Gated community plots in Bangalore, Sarjapur Road and other such upcoming areas have become very popular. They ensure safety and security and there are always security staff present round the clock. Even if you or your spouse or children head home late at night, you will not be worried about safety. Visitors to your house will also be monitored and recorded. What amenities are provided? - Always know exactly what you are paying for. If the price includes a clubhouse membership, find out what the clubhouse consists of. Does it come with a pool, gym etc. And does it have a party hall, party area. Generally paying for these facilities isn’t optional. You have to pay the full price for the property which includes these prices. However, many developers when they advertise or speak to you initially don’t mention these additional charges. You might find that your expenditure has gone up significantly compared to the price of the property that was first quoted to you. Hence, its very important to be aware of these extra charges.
When can i start construction on my flat? - Find out when your plot will be handed over and when you can start building your dream home. Some developers might construct the house for you themselves, based on your preferences. Or you can bring in an external contractor who will do the job for you. The first thing you should do is sit with an architect and lay out your specifications. Explain how many people are going to live in the house, how many bedrooms and bathrooms you want, how many stories you want the house to be, how many balconies. Also specify what is the security level you would prefer. Some people don’t like French windows, especially on the ground floor as they feel that it poses a security hazard. Many people prefer the verandah and balconies to be completely enclosed by grill-work. So clearly specify all this to your architect who will then draw up a plan for your house. Once you are happy with the plan, you can go ahead and begin construction. What is the payment schedule like? - What percentage is the down payment and how soon after booking does it need to be made. After that, what are the time intervals in which payments have to be made. What are the guidelines for this. Some developers might even want to do an outright sale.
When will the registration take place? - You will need to know this in order to put together the registration amount. You will also need to find out about the documents, ID proof etc. that you will have to carry with you. Who is your point of contact? - Establish one person as your point of contact in the developer’s office. Whether you want status updates, have doubts or queries or if the developer needs to contact you, it needs to happen easily and quickly. This list is merely indicative and you must draw up a list of your questions, using this list as a template, when you go to discuss purchasing a property from your trusted real estate developer.
