Buying a Property – Aware Yourself about Various Aspects of Property Buying

by Anurag Singh Real Estate Consultant

Seeing the rapid development taking place in the Chennai, property rates are increasing at a swift pace. However, if you still plan to buy a property in this city, there is still a ray of hope. Singaperumalkoil, a census town of Chennai, has come up with many affordable housing projects coupled with all the modern facilities. Over here, you can find all types of residential spaces right from apartments to luxurious villas.

Every individual has his own requirement and some specific factors to buy apartments in Singaperumalkoil. With that stated, there are a few points that would fit well in the list of everyone. Some of them include location, budget, personal preferences, etc. But the fact of the matter is that there are many more other factors that are associated with property purchase. For details, take a look below:

1. Legality

Before you come to a decision to buy a 2 BHK apartment in Singaperumal Koil, one of the most important factors to consider is to check whether the property is legal or not. Almost every city has a local government body that approves the sitemap of the buildings being constructed. Being an investor, you must thoroughly check the approvals prior to signing a contract or agreement.

2. Builder Reputation

Buying a 3 BHK apartment in Singaperumalkoil takes a large piece of your finances. It is therefore essential to check the builder's reputation from the previous projects constructed by him. This can give you a clear picture of whether the developer follows necessary quality standards, and his adherence to deliver the projects at the promised possession date.

3. Project Location

The foremost thing when buying property is to look for its location. It is good to buy villas in Chennai near market, hospitals, restaurants, etc.

4. Loan Facility

Do check for loan facility and what all banks offer home loans for the project you are planning to go with before inking the deal.

5. Price Evaluation

Prior to investment, conducting an exhaustive survey about the prices of the property pertaining in that particular area is a good idea. Other than location, the property prices depends greatly on several other variables like facilities available in apartments in Singaperumalkoil, quality of construction, possession date, etc. As a buyer, you must know that all the famed real estate groups register themselves with the top banks as well as NBFC's to render home loan facilities to their customers. By doing this, the builder gets an APF (Approved Project Finance) which is a proof that the property is free from any legal implications and is safe to invest in.

6. Budget/Add On Expenses

Once you make up your mind to buy a 2 or 3 BHK apartment in Singaperumalkoil, you must carefully draw a budget as per your need. One thing you must note is that property cost not only involves the price charged by the builder, but also the add-ons. These are registration charges, service tax, stamp duty, home loan processing fees, parking space charges, club membership charges, transformer charges, and electrification charges as well, and so on.

About Anurag Singh Junior   Real Estate Consultant

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Joined APSense since, March 30th, 2015, From Gurgaon, India.

Created on Dec 31st 1969 19:00. Viewed 0 times.


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