Home Buyers Guide

  • While making the decision to buy the property, several aspects should be considered; fees, loan and property price and the location.
  • Property area and its location: visit the property site and get to know the in and around of the property (including transportation and community facilities).
  • Calculate the total expenditure of the purchase, e.g. as lawyers' fees, loan charges, insurance fees and stamp duties
  • Consult the banks to understand if you are eligible to obtain the needed mortgage loan, select the appropriate payment method and calculate the amount of the loan to ensure it is within your repayment ability
  • 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, enquire with us.
What are the essential aspects to be considered before purchasing a property which is registered in the name of a
   company?

Before purchasing any property, you should verify from the Registrar of Companies that the property is neither mortgaged nor collateral security against any loan etc.

Which are the important documents you should check before buying a property?
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 requires a lot of legal probing, it is advisable to contact an advocate for further advice.

What papers and permissions should you check before buying a flat from a builder in a building under construction in
   order to get assured about the genuineness of the builder?

While buying a flat from a builder which is under construction, you need to check the following:
  • You should check the approved plan of the building along with the number of floors.
  • 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 a landlord.
  • You should check if the builder is constructing without any violation of front setbacks, side setbacks, height etc.
  • You should check that specifications given in the agreement to sell of the sale brochure is 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 has been obtained or not.
What constitutes conclusion of sale of a property?
An agreement of sale, 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.

Loan Guide

  • Research: Select what features you most require in a home, what localities you desire, and how much you are willing to shell out each month for housing.
  • Review your finances: Review your credit 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 or looking 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.
  • Long term approach: Are you considering an initial Ďnestí flat/home with plans to shift in a few years, or do you plan to stay in this home for a longer period? This decision may decidethe kind of home you buy as well as the type of loan terms that will best suit you.
  • Insist on a property/flat inspection.
  • Getassistance from our Salesperson.

Reasons to Own Your Home

  • Tax Saving: Property tax benefit and other incentives
  • Appreciation: Real estate has long-term, exponential growth in value.
  • Equity: Money paid for rent is money that you will never see again, but loan payments let you build equity ownership interest in your home.
  • Savings: Building equity in your home is a convenient savings plan.
  • Unlike rent, your fixed-loan payments donít increase over the time so your housing costs may actually decrease as you own the home longer.

Buying in an Upbeat Market

Increase your chances of getting your very own desired flat/home/property in a competitive real estate market, and lower your chances of losing out to others.
  • Get prequalified for a loan: You will be able to make a firm commitment to buy the property.
  • Stay in close communication with our salesperson to discover about the newest listings. Be ready to see a property as soon as it goes on the market ó if itís a great home, you are likely to lose it fast.
  • Be ready to make a decision: Spend a lot of time beforehand deciding what you must have in a home so you wonít be unsure when you have the time is right.
  • Keep possibilities to a minimum: Restrictions such as needing to sell your flat/home before you move or wanting to delay the closing until a certain date can make your offer unappealing. In a rigid market, you will possibly be able to sell your house rapidly. Or talk to your bank about getting a bridge loan to cover both loans for a brief period.