Important Things To Remember Before Buying A Flat

While buying a flat, buyers should mainly consider major conditions like location, builder reputation, resale value, price, amenities, etc. The buyer or investor must confirm that the project has RERA board approval. They should also check that it is free from legal issues and litigation.

Some of the most important things to remember before buying a flat in India are:

The factors mentioned below are the five major things to check before buying flats in cities like Bangalore, Mumbai, Chennai, Hyderabad, and Pune:

Location factors:

While purchasing in major cities like Bangalore, Pune, Delhi, and Mumbai, it is better to go to buy in the outskirts. This is because the outskirt areas will have less pollution and be free from the bustle of traffic and crowds. Also, the flat can be purchased on a friendly budget. Usually, in this city, prices will be comparatively Rs 1,000 to 1,500 cheaper per sq ft than the city area.

Another thing is the project must be neat to the business sectors and basic facilities like hospitals, metro, rail routes, and all transport. These factors are the main factors for the best ROI when selling in the future.

Builder Reputation:

Builders of the flat are also the main factors to consider for the resale and the prestige of buying a flat. Always, an investor should go for RERA-approved builders in India, the top 10 builders in India. Some of the best builders include Godrej Properties, Birla Estates, Mahindra Lifespace, Prestige Group, and other leading firms. The builders mentioned are RERA-approved. Their apartments come with promises of timely delivery and quality construction. They also guarantee the features they advertise when you buy.

More than that, buying a reputed builders' flat is the main prestigious thing for buyers. There is a huge difference between buying property from local builders and reputed developers. Also, when it comes to approval, a reputable builder will only develop the sites with no litigation and give high resale value.

Construction quality and customisation:

When buying dream flats, it’s important to know that local builders often won’t share what materials they use. Only reputed builders allow you to buy during the pre-launch stage. While buying in the pre-launch, builders have the right to use certain materials as per their needs.

Amenities and facilities:

The buyers are better off going for the project with at least 30 plus amenities, with clubhouses and a green area. They should also select the project with more than 80 per cent open space in overall land.

Resale value:

The key factor is resale when buying. Some areas may face future risks from city infrastructure changes. For instance, new industrial projects, like chemical plants or high-tension wires over the project, these kinds of factors can lower resale value.

What documents should I check before buying a flat from a builder?

It is very important to ensure the following documents are in order before purchasing: they are: