Real Estate Investment Tips

by indhumathi r.

Real estate is probably one of those few investment options that provide an excellent ROI. There have been cases where the appreciation in the value of property has doubled or even tripled over time. The first thing to consider while buying a property is to decide if it is for rental purposes or self occupation. Apart from that, there are several other aspects to consider such as location, connectivity, amenities, distance from work place, whether there are schools and hospitals nearby and so on. Most of these are usually considered by people when they look for a property however, the legal aspects may not be given as much importance and this could land you in big trouble in the future. This is why going with a reputed builder like Sowparnika Projects is a good idea. One needn’t worry about loans or legalities and just go ahead with the purchase.

Step by Step Procedure for Buying a Flat/House

· Verifying as to whether there is a clear and absolute title.

After checking for the development prospects of the area, the first thing you need to look for once you like the unit in question is this: Is the Title Clear?

Herein, you need to check as to whether the title is clearly with the builder or land owner and if he /she is authorised to sell it and construct buildings on it. This is an important phase and consulting a lawyer is a good idea to ensure that all the required compliances are met with and the title is absolutely clear.

· Giving the builder a token advance to block the unit.

When you go with just any builder, this could worry you a lot. However, with trusted and reputed ones, you needn’t fear about giving them a token advance. Look for feedback and reviews online before you give out the token advance. Just type in ‘Sowparnika Projects Feedback’ on any search engine if you consider any project from Sowparnika (you could even mention the specific name of the project) and read reviews to satisfy yourself.

· Signing an agreement with the builder

You need to be cautious and have your lawyer go over the papers to ensure that your interests are protected. This is quite important and only after this you can proceed with your loan if you are going for one.

· Approaching the bank for a loan.

Banks usually require you to pay up to 20% of the loan amount and it is essential that you consider this before planning your purchase. For instance, if you wish to buy a property worth 50 lakhs and approach a bank/housing finance company for loan, you will b required to being in 10 lakhs (20%) as the down payment. Since this is a regulatory requirement by the RBI, you will have to arrange for that 20% and pay up before the bank/ NBFC can disburse the loan.

When you opt for builders like Sowparnika Projects, you don’t have to worry about legal problems or bank loans for most of their projects are financed by banks and all you need to do is block the unit, sign an agreement and approach the bank that has approved the project. If your credit rating is good, you will get the loan without issues and you can buy your dream home just like that! Check out Sowparnika Project Reviews for further details and to read about experiences from existing customers. Happy House Hunting!