BE AWARE ACT SMART

People looking to buy property as an investment option have a huge task ahead of them because the real estate sector at the moment is facing an economic crunch, so important points that a buyer should keep in mind before investing his or her hard earned money.

1. Location Location Location

This is the most important point to be considered before buying property.

  • Availability of schools , hospitals and other amenities for daily requirements, also the general environment,attractions for kids,open area etc
  • One should keep in mind the transportation system in the area and the traffic situation in the future, a prospective buyer should also check the basic infrastructure, whether or not the area would be able to hold the future growth

real-estate

2. Product knowledge

Knowledge about builders, architects and consultants behind the project and their last projects should be known to the buyer.

  • Is the project according to the norms by law i.e. 30:70 ratio between built up and open areas
  • Does it have adequate parking and exit points to meet the needs
  • check if the project has adequately wide roads ,sewerage, storm ,water drainage, electricity availability and back up
  • Ask for the approved building plans of the builder to check the exact dimensions.
  • Always click pictures of the sample flat to compare.
  • visit the construction site from time to time.

3. Documentations

Last but not the least check all the documents thoroughly that the builder has a green signal from all the concerned authorities mentioned below:

Approved building plans by the authority of construction

  • Environment clearance
  • Pollution clearance
  • Clearance from the airport authority of India or ministry of defense for high rise buildings
  • Clearance from forest and national highways authority of India if project is adjoining a forest or highway
  • Clearance from municipal authorities for availability of fresh water, electricity and sewerage disposal

Buying a home requires patience, diligence and thorough knowledge. Hope this information is useful to all of you for a smooth transition

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