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What are the Things to Check Before Buying a Flat?

There are 10 most important things to check before buying a flat in the prime location of Pink city Jaipur.

  1. Approval and Licences

When you enter the home from zero, check the builder’s documents starting with the start-up certificate, clean the environment, and approved building plans. Also, ask about the ownership status of the land and see if the builder has bought the land or has just advanced his rights.

  1. List of Banks Financing the Project

With real estate companies sitting on unsold items and having no cash to complete their projects, banks have become increasingly diverse and financing. There are many builders who do not have access to bank loans at all. So, once you have completed the property and verified that all permits are in place, look for banks that are willing to fund the project along with the one that offers you the lowest cost loan.

  1. Calculate the Total Cost

Don’t go for less than your full potential. Brokers often quote basic prices and do not mention other factors such as development / external fees, preferred site fees, car/club / legal parking, and service tax, which increases the total cost. Ask for the final price of the house.

  1. Verify the Builder

The land in question is in litigation. Therefore, it is recommended that you do a thorough verification of the builder. You can confirm her past or current projects or even post questions at various live housing conferences.

  1. Buy Vs Rent

Many people buy a 3 BHK or 2 BHK flats in Jagatpura Jaipur thinking they will use the rent to pay for EMIs. Experts say it is the wrong approach. “Do not exaggerate hopefully that rental income will be paid by EMI. Rental production for residential properties is generally 2 to 3 percent.” In addition, the property may become vacant for months before you find a tenant.

  1. The Right Plan

There are various payment options available in the market such as a down payment plan, a Flexi-Payment plan, a construction plan, and an ownership plan. Experts say that one should choose carefully, as there is generally a price to pay for each.

  1. Size of the Apartment

Buildings generally refer to the highly constructed area of the booklet. This includes common areas such as stairs, hall, etc. The carpet area of the 2 BHK and 3 BHK flats in Jagatpura Jaipur could be 30 percent less than the area super built-up.

  1. Check the Infrastructure Plans

A subway connection or any other major infrastructure development in the future related to the location of the property you intend to purchase can greatly increase your return on investment. Also, make sure the property is not close to any pollution industry.

  1. Check the Site

The layout in the brochure may differ from reality. Visit the site thoroughly before booking a property. Communicate with people in the neighborhood as they may know of any illegal occupation or other legal disputes related to the property.

  1. Register Your Plot

After choosing a property, you must register it with the competent authority to become its legal owner.

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