Checklist – Buying a Property in India

Does anyone want to invest on property which causes problem or risk in future? We believe “No”. To buy a property is not only to buy a dream property but also your investment in life. We suggest the below for you to adhere before you buy any property.

Consult a Good Lawyer

Consult a good lawyer with your intensions to buy a particular property and with complete property details and get his opinion on the property. You can also get opinions from good property agents / consultants. Never forget, you should be the ultimate decision maker. Never fall for anybody’s sweet words.

Clear Title

Never buy a property if the title of property is not clear. If the title is not clear it will definitely create issues in the future. Financial institutions/ banks will also refuse to provide you with any loans if required. You should be discussing this with your lawyer in the first instance itself. Your property title confers the owner of the property.

Documents Clarity

Before you take any discussion with the property owner, ask him for the copies of documents and tell him it will be checked with your lawyer.

Ensure the property is free from any debt and liabilities

Ensure you are buying a property which is free from debts and all taxes are paid in time. If seller of property has taken any loan or advance on the property, ensure they are paid off and ask them for documents or copies to show that property is free of any debts. Also please clarify with your lawyer.

Approved layout

If you are buying the property in a big project, get a copy of approval of the layout for the building from your builder or seller of property. Ensure that building plan and construction is approved by the authorities and property is listed in government register. Consult the same with your lawyer.

Water, drainage and power supply

By checking with the concerned authorities, you can be sure if the property is genuine and be assured that the bills for the above facilities are paid regularly to the government. Ensure that property you are buying has adequate water supply and there is no problem of power such as voltage fluctuation, power shortage etc. Voltage fluctuation can damage your home appliances. Ensure the availability of water and power supply.

When buying a property ensure that there is no claim on the property by authorities or government and check whether land is designated for the residential purpose. Make good market research and seek expert’s advice for making your decision.

Consider Total Property Cost

Consider complete expense you will be incurring to purchase the property. Cost of the property is not only the rate of property, but also it includes other costs viz: fee to the lawyer, registration and notary cost, agent commission if any etc.

Bangalore Real Estate

Real estate business in Bangalore is famous for selling, purchasing and lease of luxury houses, flats, apartments, villas, properties and acreages. Bangalore, being the business capital of Karnataka, holds vast chance for real estate growth and growing economical advancement. The developing societal scenario is thus prompting massive development and increase chances of real estate in Bangalore. Bangalore real estate marketplace is fast growing with a boom of approaching modern fashionable apartments and flats. Companies like real estate in Bangalore are now having a dramatic advantage. There are various professionals prepared to reside in apartments, luxurious flats, bungalows, flats villas in Bangalore.

In the next couple of years, it’s called that a steep rise of new apartment units in Bangalore and is most likely reach up to one hundred,000. As the number of people from started settling  in foreign countries is huge, the real estate in Karnataka has always been the main topic of NRI interest. Residential project of  Bangalore real estate has grown by the extensive investments made by the NRI’s thus increasing the style of quality and luxury living. The commercial sector of Bangalore is being shooting up with important start from huge multinational companies and IT parks being set up within the city.

Investments in and around Bangalore are appearing due of the fact that leading IT sectors , Info Park will be sharing a big part of employments across Karnataka in not too distant future. Huge amounts of workers are settling in Bangalore and this could be reasons why the real estate business in Bangalore is flourishing as ever before. The rise in the IT professionals inside the city of Bangalore raised the interest in quality as well as trendy flats, apartments and villas in all facets of Bangalore. Prospective real estate developers are now participating in modern projects that would furnish to the growing necessities of the city. Developers and Contractors primarily focusing on variables like complimentary spending budget with all modern luxuries to target a lot of real estate growth inside the city. Builders in Karnataka are famous for conventional residential building practices.

Chennai Real Estate

Among the four metropolitan cities in India, the port city of Chennai has a unique advantage of a major hallway to Southern India. Typically the city is catering to the leading off shore industries, but with time Chennai is becoming lucrative place to go for IT and ITeS industries. Chennai real estate value is relatively more affordable due to the availability of large tracts of unutilized land. Chennai can also be gaining advantage over neighboring cities like Hyderabad and Bangalore owing to the access to space and work force. The low operational cost and more affordable lodging is the other motive bring interest of foreign businesses.

Not only has this increased the capital and rental values of commercial property, it’s also fuelled a demand for housing for its workforce. There’s been an active demand for flats and apartments. Residential land prices in Chennai have showed a significant upward trend in the last quarter. Taking into consideration the inroads of multinationals into the city the hospitality industry is also upbeat. To be able to attract the company traveler several up market hotels have been established at Chennai in the last decade. International hotel chains like JW Marriott, Radisson has built resorts within the city. This has further improved the real estate actions within the city. Cashing on the trend majority of the upcoming projects are catering to the needs of higher class end user.

Kochi Real Estate

Real estate business in Kochi is famous for selling, purchasing and lease of luxury houses, flats, apartments, villas, properties and acreages. Kochi, being the business capital of Kerala, holds vast chance for real estate growth and growing economical advancement. The developing societal scenario is thus prompting massive development and increase chances of real estate in Kochi. Kochi real estate marketplace is fast growing with a boom of approaching modern fashionable apartments and flats in kochi. Companies like real estate in cochin are now a dramatic advantage. There are various prepared to reside in apartments, luxurious flats, bungalows, flats villas in Kochi.

In the next couple of years, it’s called that a steep rise of new apartment units in Kochi and is most likely reach up to one hundred,000. As the number of people from Kerala settled in foreign countries is huge, the real estate in Kerala has always been the main topic of NRI interest. Residential project of Kochi’s real estate has grown by the extensive investments made by the NRI’s thus increasing the style of quality and luxury living. The commercial sector of Kochi is being shooting up with important start from huge multinational companies and IT parks being set up within the city.

Investments in Kochi are appearing due of the fact that leading IT sectors like Smart City, Info Park in kochi will be sharing a big part of employments across Kerala in not too distant future. Huge amounts of workers are settling in Kochi and this could be reasons why the real estate business in Kochi is flourishing as ever before. The rise in the It professionals inside the city of Kochi raised the interest in quality as well as trendy flats, apartments and villas in all facets of cochin. Prospective real estate developers are now participating in modern projects that would furnish to the growing necessities of the city. Developers and Contractors primarily focusing on variables like complimentary spending budget with all modern luxuries to target a lot of real estate growth inside the city. Builders in kerala are famous for conventional residential building practices.

Property Developers In Chennai

Among the four metropolitan cities in India, the port city of Chennai has a unique advantage of a major hallway to Southern India. Typically the city is catering to the leading off shore industries, but with time Chennai is becoming lucrative place to go for IT and ITeS industries. Chennai real estate value is relatively more affordable due to the availability of large tracts of unutilized land. Chennai can also be gaining advantage over neighboring cities like Hyderabad and Bangalore owing to the access to space and work force. The low operational cost and more affordable lodging is the other motive bring interest of foreign businesses. The upswing in the service sector of Chennai is impacting the quality if life, infrastructural facilities and real estate market of the city. The growing IT\/ITES sector is good news for Chennai’s property market. The property prices in Chennai are very reasonable as compared with Bangalore. The city offers good infrastructural facilities and healthful business environment. These elements are prompting IT companies, MNCs along with other big corporate houses to choose Chennai over Bangalore. Worldwide companies are keen on opening their facilities, campuses or branch offices within the city. This trigger in the demand of commercial and retail property is finally represented on the residential section as well.
Not only has this increased the capital and rental values of commercial property, it’s also fuelled a demand for housing for its workforce. There’s been an active demand for flats and apartments. Residential land prices in Chennai have showed a significant upward trend in the last quarter. Taking into consideration the inroads of multinationals into the city the hospitality industry is also upbeat. To be able to attract the company traveler several up market hotels have been established at Chennai in the last decade. International hotel chains like JW Marriott, Radisson has built resorts within the city. This has further improved the real estate actions within the city. Cashing on the trend majority of the upcoming projects are catering to the needs of higher class end user.
Professionals, who flock to Chennai because of employment, ultimately look for affordable houses. A broker source informs that the cost of residential property in Chennai has doubled in the last 3 years. Areas like the Boat Club Road have witnessed a four fold increase in residential values in last few years, adds the source. Areas that are near to the IT corridors have registered 100-150% growth in residential real estate values like Adyar, old Mahaballipuram, Ambattur and Kotturpuram. Property developers, too, have sensed this phenomenal potential in Chennai Real Estate. New residential projects are priced at 2,500 – 4,500 Rs\/ sq ft for the apartment ranging from 1,200-1,500 sq ft.

To make the most of this situation, some developers have even increased the launch prices of their upcoming projects. In several cases, this price rise is as steep as 20-25%. Chennai’s residential real estate is poised for further growth. The commercial and retail infrastructures are also being braced up to cater to the new demand.