Consider these takeaways:
- While building a house, keep in mind that building the layout would take close to 5-6 years
- www.sevagiri.com
- For immediate rental returns, opt for apartments. Check whether you can wait for rental returns till the layout develops
- If you are looking for capital appreciation, remember you have invested early in the development cycle so, while you have the price advantage, capital gains might take time…about 5-10 years
- Study the potential of the area. Check what is coming up in future - whether companies, housing or developer firms? Is connectivity going to get better?
- If a metro rail is coming up, there is scope that property values will rise by 15-20 per cent. Similar trends have been noticed in Delhi values along areas where the metro was constructed
- Do your homework and know whom you are buying from. If a national bank or a recognised private bank agrees to sanction your home loan, your money will be safe.
- You can and must verify whether a developer has defaulted for loan payments to banks or other financial institutions. Banks categorically list the names of such defaulters in the public domain and a scan of this list is critical for evaluation.
- Safeguard your interests while buying into a project by ensuring the developer has a credible partner such as a real estate fund or private equity player. This means that the partner has done full due diligence and bodes well in terms of timely completion.
Source - MB
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