Four tips to help you invest in real estate in Ahmedabad

by Jenita Jose Real Estate

Real estate in Ahmedabad is seeing a rise in demand. This city has been one India’s busiest business hubs for the longest time. With the rise in business opportunities in the city, more and more people are moving to this city. The real estate market in the city too is seeing a lot of growth and there are so many options for one to invest here.

This growth in real estate in Ahmedabad has made this this right time for one to invest in property here. So if you’re someone who’s looking for an investment opportunity in the rising city, then here are a few tips that will help you make a better, smarter investment.

Research: Once you find the property you love, the first thing to do is to check if the developer has all the legal licences and permissions in place. A lot of times projects go bust, despite having sold properties because they don’t have all their permissions in place. Vetting the developer will ensure that you don’t put your money in 3 or 4 BHK flats in Ahmedabad, which may not get completed or isn’t legal. Check whether the land of the construction belongs to the builder or if he just has development right, ask your agent to see the permissions and licences, before you put down your money.
Finance: If you want to buy 2, 3, or 4 BHK flats in Ahmedabad, then you’re going to need to get a loan. Builders have tie ups with banks that fund their projects and also offer loans to potential buyers for that particular property. Getting loans from these banks is simpler and there is also a chance that you can get a better rate of interest.
Carpet and Built-up Area: If you go to buy 2BHK flats in Ahmedabad and happen to also check out some 3 or 4 BHK flats, you might see that sometimes the area is the same. A lot of times, the broker or developer with tell you is the super or built-up area for one property and the carpet are for the other. Know the difference between the two.
Late Possession Clause: This is something that a lot of people who buy under construction flats in India struggle with. If the project gets stuck due to some legalities or there is a delay in possession the borrower still has to pay the EMIs. So ensure that your builder mentions in the contract what date he will give you possession and what the clauses are for late possession.