How to select the best property
When purchasing real estate, first decide your type for the investment, ensure legal clearances by verifying the title deed, encumbrance certificates, and necessary approvals. Evaluate the location for proximity to amenities and future development plans. Research the builder's or owner's reputation. Compare the property's price with similar ones in the area. Confirm the availability and quality of utilities like water and electricity. Inspect construction quality for built properties. Ensure all legal documents are registered. Consider potential resale value and market demand. Review financial aspects, including loan eligibility and payment structures. Lastly, ensure compliance with local zoning laws and check for any government acquisition plans.
In summary below are the common points which needs to be checked for every property. Post validation, it is your descretion to finalize the propery
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Legal Clearances: Verify the title deed for a clear title, Check for encumbrance certificates to ensure the property is free from legal dues,Ensure all necessary approvals from relevant local authorities.
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Location: Assess the property’s proximity to essential amenities such as schools, hospitals, markets, and workplaces. Consider future development plans in the area that may affect property value.
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Builder's/Owner's Reputation:Research the reputation of the builder or owner.Look for reviews and feedback from previous buyers or neighbors.
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Price Verification:Compare the property's price with similar properties in the area.Ensure the price aligns with the current market rates.
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Infrastructure and Utilities:Confirm the availability of basic utilities like water, electricity, and sewage systems. Check the quality of infrastructure such as roads and connectivity to public transport.
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Construction Quality: Inspect the quality of construction materials and adherence to safety standards. Look for any signs of structural damage or poor workmanship.
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Legal Documentation: Ensure all necessary documents such as Sale Agreement, Sale Deed, and possession certificate are in place. Make sure all documents are duly registered and stamped.
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User generated content (such as messages, posts, comments, pages, profiles, images, feeds or communications exchanged on the Supported Platforms that can be used)
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Resale Value: Consider the potential resale value based on location, quality, and market trends.Evaluate the demand for similar properties in the area.
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Financial Aspects: Check loan eligibility and pre-approval from banks if financing is needed. Understand the payment structure, including down payment, installments, and final payment.
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Future Developments: Investigate any planned infrastructure developments like roads, metro, or commercial hubs. Consider how these developments might affect property value and living conditions.
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Compliance with Local Regulations: Ensure the property complies with local zoning laws and land use regulations.
Check for any government acquisition plans or restrictions.
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