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Updated on: Tuesday, October 22, 2019, 03:15 PM IST

Things you need to keep in mind when buying an Apartment

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Investing in a flat or a house is the most crucial decision of our life. Yes, we all have dreams to buy a perfect house, but the reality of it, maybe more complex than you think. There are various considerations that need to be done, like considering the location, the builder, loan options and so much more! The rapid growth of real estate has helped in this respect as there are various portals and websites who offer proper guidance. But it is up to you to apply them in real life and get the work done. Although there are some key factors, some of the below pointers might help.

Property Price

The first thing that you need to look for how much carpet area you want to have, depending on which your price will be fixed. In case you are confused create a shortlist of what you are looking for. The price of a property can also depend on other factors like location, facilities like car parking, pool, kids play area and more. It is also important that you compare the price with various builders. Usually builders offer genuine market price, but it doesn’t hurt to get it verified. Portal listings, broker of your local area, newspaper listings can be useful sources.

Actual Area

If there are Apartments For Sale In Kondapur, you must understand the difference between total area and the carpet area. The carpet area is usually usable area. But the built up area can include shafts, elevators, stairs, wall thickness and things like that. The actual area is 30% less than the built up area and is used to calculate the price of the property. Sometimes when a specific area is shared between two owners, the price is also equally paid.

Land Record

The land on which your apartment is built is a very important document. You must be familiar with the soil quality, topography of the region. Most builders build apartments on swampy land which later make the building fall apart. This can be very dangerous if proper evaluation is not done. Nowadays money has become more important than saving lives and hence builders often take short cuts to build settlements on unstable areas. Before you purchase an apartment, the title deed must be checked and verified. If situation requires do a detailed enquiry with the help of a lawyer.

Legal Check of the Property

There are many Apartments for Sale in Kondapur, but ensuring the property in on legal lands is an important step on the part of a buyer. The builder must have No Object Certificates (NOC) from the development authorities of the area, like the Municipality, sewage and water supply department, electricity board and more. Conduct a thorough search of these types of documents. They stress on the legality of the project. If you plan on taking a property loan, then banks would automatically require such documents and verify them before approval.

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Published on: Tuesday, October 22, 2019, 03:15 PM IST
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