A Thorough Research is A Must before Investing in the Real Estate Sector
Mar 28, 2017 Home Trading Steps
Today every now and then we hear and read about building collapsing and several people die and getting injured. There may be several reasons for the occurrence of such incidents like cheap quality raw material used for construction, unskilled labour, no proper inspection by the engineers on site etc. Your dream to buy that house does not seem far and looks closer to the reality but wait! Have you checked at this point before you sign the dotted line?
Here are some points listed below which one needs to go through while they are buying the property.
Detailed Research
Do a detailed research on the land of construction there are chances that the piece of land may be under litigation. So rather getting into future trouble it’s better to do a good amount of research in advance. Use best of the resources to fetch information about the builder. Also, check the kind of locality and running market price of that locality.
Builders past work and performance
It is always better to go for reputed builders as they have expertise and good track record. Also, seek advice from people who have invested in developer’s previous projects. Check their past work and their successful projects. a good developer will always be transparent and will provide the investors with all the relevant and true details.
Check on approval and licenses
Once the property has been finalized then the buyer needs to check the builder's paperwork ranging from lying out of the land, commencement certificate for work, environmental clearance and approved building plans. Look whether the builder has bought the land or has just the development rights for it. Also have a check on these documents title Deed, release Certificate, approvals by Local Body, property Tax Receipts.
Speed of project delivery
With reputed builders, it’s easy to make out the delivery speed of the builder looking at its past project but it’s difficult to find out if you are investing into a new builder. A previous project helps to get an idea regarding the punctuality of the builder. Also, check on the recent past controversy of builder if any.
Price evaluation
One needs to consider their budget and shortlist the property also evaluate the prices of property as per the locality. Be smart and search for the best prices in your locality. Look for the market research firms that expertise in the evaluation of realty projects so that it can provide you the exact knowledge and you do not get cheated.
Safety and security
House is a life time assets so you do not want it to lack safety and security. Also one does not want to invest in property which is handicapped and does not have basic facilities and is not well connected with other areas. The building needs to have proper fire fighting equipment’s and evacuation spaces which are necessary to face the natural calamities. Check whether the property has passed International Organization for Standardization 9001:2008 certifications. Make sure that the building does not flout any safety norms.
Site visits
It’s necessary that you make regular visits to the site and keep a check on the work in progress because it may not be necessary that the things may turn up how it looked in the brochure. It’s necessary to lookout into the fact that work is regularly monitored by the senior engineers. If one tends to buy a resale property then get property supervised by an engineer.
Hence, as humans to make mistake is inevitable from one’s life which is completely agreed but how to avoid it and learn from such mistakes in surely in one’s hand. So be smart and play safe and there you have your house of dreams waiting for you.
Here are some points listed below which one needs to go through while they are buying the property.
Detailed Research
Do a detailed research on the land of construction there are chances that the piece of land may be under litigation. So rather getting into future trouble it’s better to do a good amount of research in advance. Use best of the resources to fetch information about the builder. Also, check the kind of locality and running market price of that locality.
Builders past work and performance
It is always better to go for reputed builders as they have expertise and good track record. Also, seek advice from people who have invested in developer’s previous projects. Check their past work and their successful projects. a good developer will always be transparent and will provide the investors with all the relevant and true details.
Check on approval and licenses
Once the property has been finalized then the buyer needs to check the builder's paperwork ranging from lying out of the land, commencement certificate for work, environmental clearance and approved building plans. Look whether the builder has bought the land or has just the development rights for it. Also have a check on these documents title Deed, release Certificate, approvals by Local Body, property Tax Receipts.
Speed of project delivery
With reputed builders, it’s easy to make out the delivery speed of the builder looking at its past project but it’s difficult to find out if you are investing into a new builder. A previous project helps to get an idea regarding the punctuality of the builder. Also, check on the recent past controversy of builder if any.
Price evaluation
One needs to consider their budget and shortlist the property also evaluate the prices of property as per the locality. Be smart and search for the best prices in your locality. Look for the market research firms that expertise in the evaluation of realty projects so that it can provide you the exact knowledge and you do not get cheated.
Safety and security
House is a life time assets so you do not want it to lack safety and security. Also one does not want to invest in property which is handicapped and does not have basic facilities and is not well connected with other areas. The building needs to have proper fire fighting equipment’s and evacuation spaces which are necessary to face the natural calamities. Check whether the property has passed International Organization for Standardization 9001:2008 certifications. Make sure that the building does not flout any safety norms.
Site visits
It’s necessary that you make regular visits to the site and keep a check on the work in progress because it may not be necessary that the things may turn up how it looked in the brochure. It’s necessary to lookout into the fact that work is regularly monitored by the senior engineers. If one tends to buy a resale property then get property supervised by an engineer.
Hence, as humans to make mistake is inevitable from one’s life which is completely agreed but how to avoid it and learn from such mistakes in surely in one’s hand. So be smart and play safe and there you have your house of dreams waiting for you.
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