5 Essential Things You Must Know Before Buying Property in India

Buying a property for yourself or your loved ones is one of the most crucial decisions that you will take in your life. The journey to finding your dream home in India will be full of a whirlwind of emotions. From excitement to nervousness, finding a property will be no less than a roller coaster ride! However, every decision you make will be worth it if you are well researched and aware of the most important factors that are to be kept in mind before you set out to buy a property in India.

The internet is full of information about the real estate market. While this helps in increasing our awareness, it can also lead to confusion. Sometimes, you just do not know which resources to trust and where to begin the process from. 

We want to hold our side of the deal and ensure that you are well aware of the 5 essential things that you need to be alert about while finding the right property in India.

Is it RERA Registered?n>

RERA is the Real Estate Regulations Act that aims to protect the rights of homebuyers who are buying property in India. Make sure that your finalized property is covered by RERA. This will ensure timely completion of the home buying process without any hassle. Be sure to check this since some old housing projects have not yet been covered by the new act. 

Can You Trust The Builder?

Check out the company website of the builder and research on both its ongoing and previously completed projects. Figure out how much time the builder usually takes to deliver its projects and what people are saying about them. Look for customer reviews and any delays in project completions. All of this should be readily available on the internet. 

Have You Verified All Legal Documents?

Buying a property in India implies validating your ownership with legal documentation. For a sense of security, you need to ask for and verify a list of documents related to the property. Here is a list of the most important documents - 

• Title Documents

• Identity Proof of Seller 

• Construction Approvals 

• Occupancy Certificate

• Conversion and Land Use Permissions 

• Encumbrance

• Status of Tax Payment 

• Physical Survey 

Does It Offer All Basic Amenities?

Why would you buy a property that does not go beyond just offering a piece of land? With improvements in the housing market, buying a property does not just mean buying a house anymore. As a homebuyer, look for added amenities like a swimming pool, lifts, gymnasium, power backup, parking, etc. These amenities will also affect the resale potential of the property. 

Is the Property Well Connected to Essential Areas of the City?

Location is a top priority for most buyers finding a property in India. Do not neglect to visit the neighborhood a few times before you finalize it. Check if it is connected to your workplace, reputed healthcare institutions, shopping malls, and other essentials. Also, check if the locality has availability of public transportation nearby. 

It is your duty as a responsible homebuyer to make sure that all of the elements mentioned above are in place and there is nothing amiss. If you feel that you need a second opinion, do not hesitate to contact a real estate agent that will make your work of finding a property in India both easy and efficient.

Buying a property is not something you do every day, is it? How about you do it right the first time? 

Also read: Price Negotiation Tips Every Homebuyer Should Know