Every person would wish to own a house, whether spacious or a small house according to their financial status. A person desires to own a house since it is not only a concrete structure but also involves an element of emotional bonding towards the same.
Nevertheless, it is not easy to either buy a new house/apartment or to construct on the plot. If a desire of a man is to buy an apartment, then it is necessary to identify the right location and a reputed builder and if the desire is to construct a house, then a reliable and right person, is very necessary.
Selection of a location
Before acquiring any property, more impetus should be on the location since it plays a paramount role in almost all aspects of the real estate. However, the process of identifying the location for owning any property depends upon the purpose for which such person intends to invest, which could be either for residential or commercial, since the priorities differs according to the purpose for which the property is intended to be purchased.
The following are some of the guidelines required to be
considered while choosing the desirable location are mentioned below:
1. The first and foremost thing that should be
kept in mind at the time of identifying the property is that the property
intended to be purchased should not be located within the vicinity of slum area
or place of worship or in close proximity to a drainage line. It is
better if the location is populated with people having diverse culture with
cosmopolitan outlook and free from anti-social elements and anti-social
activities.
2. If the person wants to own a house or aflat for his own occupation, it is advisable to prefer a purely residential area
than a commercial one.
3. It is always appreciated to opt for
purchase of an apartment built on a Layout approved by the competent authority,
since it would ensure better amenities to such occupants.
4.It is also important that such layout
should also comprise of well-laid roads with good sewerage system, along with
regular garbage clearance.
5.It is advisable to avoid owning a house in the low-lying areas since such property often runs under the risk of inundation
of water during heavy monsoon.
6.Care should also be taken to ensure that
the location is not very far from the work place, Market place, Educational
institutions, hospitals, Bus stand, Railway station or other basic and
important destinations.
7.Apart from the above, it is also necessary
banking facility, ATM’s, public conveyance, public telephone booths, Internet
Centers and others are also not very far from the property. Last, but not the
least that the location must also be free any kind of pollution or congestion.
8. Needless to say, the area should have good and regular supply of water, power and in case of bore-wells, then good ground
water table is also necessary.
9.To ensure good sleep and less pollution,
pick an area, which is free from any factory or workshop in the precincts of
your location.
10.As regards maintenance of good health is
concerned, it is also very important to inculcate the habit of jogging or
walking regularly, for which Public Parks or gardens having jogging track is
necessary in such circumstances, it is preferable to own a house or a flat
wherein such parks or gardens are easily accessible.
11.Further, it is also seen that the concept
of Vaastu has gained much momentum now-a-days, which is subjective. In such
circumstances, importance should be given to the size of the plot and the Floor
Area Ratio along with the price tag than banking upon the Vaastu alone.
12.One thing that always concerns everyone is the parking and other logistic issues, which we should be ascertained before
purchase. The infrastructure facilities should be good in all respects.
Necessity
of a reputed Builder
Real
Estate is booming like never before due to various factors viz. IT Boom, High
salaried people, soaring share prices, and wide range of home loans available
easily. The Builders/promoters are having a field day, as the demand is
mounting. That being the situation, it is very important to opt for the
purchase of a flat/apartment constructed by any reputed Builders, because some
builders, having no experience in the filed of construction may take undue
advantage of the mounting demand and may cause damage to the intending
purchasers by making false assurance, with poor result and high prices.
We get to hear a lot of stories about such bogus builders, whose motto is to cheat the people to a tune of millions,
collect money and vanish with them, which situation has to be brought under
control. The following are few of the information given to enlighten about the
ways to tackle and overcome such instances:
- At
the outset, before making any kind of investment either in apartments or
plots or in any type of property, it is very necessary to obtain the list
of reputed builders of the city, who are involved in the real estate
business from quite few years.
- Once
such list is available, then it is necessary to make a thorough
investigation about the antecedents of the short listed builders.
- The
next important aspect after finalizing the builder from whom the property
is intended to be purchased, other aspects such as promptness in delivery,
construction standards, strict adherence to the agreed costs without any
escalation, providing all the basic amenities as promised at the time of
booking.
- It
is advisable to try and meet the residents residing in the apartments
constructed by such Builder.
- If
an offer to sell a flat/apartment is made for the price which is much less
than the prices prevailing in the market, then it is advisable to think it
over than getting carried away over the throw away price as such
purchasers may be vulnerable to some unknown problems, leading to lot of
problems in terms of legal and quality of construction.
- Investing
in an independent house or flat built by any unknown builder is always a
risky act.
- Nowadays, many Builders are making use of modern and unique techniques and
are creating alluring brochures depicting unbelievable designs just to
attract the customers to invest in their projects. On the basis of such
brochures, heavy claims are being made by the builders and in turn the
purchasers are not benefited in any way.
Safe investment
aspects
As far as residential
property is concerned, it is safe to invest in those projects which are
completed rather that those which are still under-construction.
For those who intend to invest over the property other than residential, for getting steady rental
incomes, investment on the ready possession properties may be a wise choice.
Also, the possibility of capital appreciation would be very limited as ready
possession property attracts premium over the market rates.
Thus, purchasing an
immovable property free from any kind of impediments is a time-consuming
affair, which requires selection and involvement of efficient professionals
such as Advocate, Architect, Structural Civil Engineers, Contractors and Real
Estate Agents, who have very important and independent roles to be played in
purchasing any property.
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