- Make a note – while making the decision of buying your dream property, several aspects need to be considered: fees, loan, property location and it’s pricing.
- Location matters – make sure to visit the property and get to know the in and around of the property, mainly regarding transportation, healthcare, and connectivity.
- Research – discuss the facilities you and your family require in your house, what localities you desire, and how much you are willing to shell out each month for housing.
- Total it up – calculate the total expenditure of the purchase, e.g. lawyer’s fees, loan charges, insurance fees, and stamp duties.
- A step close to your dream – consult the banks to understand if you are eligible for the required housing loan, select the appropriate payment scheme, and calculate the amount of the loan to ensure it is within your repayment ability.
- Life per square foot – when calculating the per-square-foot price, you should fully understand whether the calculation is based on the ‘saleable area’ or the ‘carpet area’ of the flat. If in doubt, we are always open to enquiries!
FAQs & Queries
Before purchasing any property, you should verify from the company’s registrar if the property is neither mortgaged nor collateral security against any loan and so on.
Before purchasing a property, you should look at the sanctioned layout plan, building plan, ownership documents etc. As all these processes are very hectic and require a lot of legal probing, it is advisable to contact an advocate for assistance and advice.
- While buying a flat from a builder that is under construction, you need to check the following:
- You should check the approved plan of the building along with the number of floors proposed.
- Be sure that the floor you are purchasing is approved.
- You should check that either the builder owns the land on which he is constructing or he has undertaken an agreement with the landlord.
- You should check if the builder is constructing without any violation of front setbacks, side setbacks, height, and other factors.
- You should check whether the specifications given in the sale agreement, of the sale brochure, are entirely followed by the builder or not.
- Check the reputation of the builder in the market.
- Ensure that urban land ceiling NOC, NOC from water and electricity authorities, NOC from lift authorities have been obtained or not.
- Ensure the builder has 26 years of experience with over 2000+ people satisfied like Rohan Corporation.
A sale agreement, coupled with actual possession of the property, would be considered as a conclusion of the sale. Usually, the entire amount is paid at the time of handing over possession.
- Review your finances: Review your financial position and ensure you have enough funds to cover your down payment and completion costs. Then, consult a bank and get prequalified for a loan and take a look at your loan eligibility and repayment scheme that is offered by the bank.
- Decide when to move: When is your rent up? Are you allowed to lease? All of these factors will help you determine when you should move in.
Insist on a property/flat inspection and get assistance from our salesperson.
- Long term approach: Are you considering a short term nest with plans to shift in a few years or do you plan to stay in this home for a longer period? This decision may decide the kind of home you buy as well as the type of loan terms that will suit you best.
- Tax savings: Property tax benefit and other incentives.
- Think further: Real estate has long-term, exponential value growth.
- Equity: Money paid for rent is money that you will never see again, but loan payments let you build equity ownership interest by just staying in!
- Savings: Building equity is your perfect savings plan.
- Able to be stable: Unlike rent, your fixed-loan payments don’t increase over time so your housing costs may decrease as you own the property longer.
By buying your desired property in a competitive real estate market, you attract various benefits while you tighten your financial security.
- Get prequalified for a loan: You will be able to make a firm commitment to buy the property. Stay communicated with our salesperson to discover the newest listings. Be ready to see a property as soon as it goes live on the market – if it surprises you then be warned, it may sell fast!
- Be ready to make a decision: Spend a lot of time beforehand deciding what are your ideal requirements to have in a house so you won’t be left in confusion when the time is right.
- Keep possibilities to a minimum: Restrictions such as needing to sell your flat/home before you move in or wanting to delay the closing until a certain update can make your offer unachievable. In a rapid-fast market, you will possibly be able to sell your house quickly or talk to your bank about getting a bridge loan to cover both loans for a brief period.
NRIs/OCBs are granted the following facilities:
- Maintenance of bank accounts in India.
- Investments in securities and shares in Indian firms/companies along with deposits.
- Investments in immovable properties in India.