You have saved for years. Now you are ready to buy your dream house.
Sushil Mantri, Managing Director, Mantri Developers Pvt. Ltd. lays
down a few indispensable guidelines that will help you select a home.
Location
Ascertain which areas of the city are appreciating more than others,
while avoiding areas that are highly priced.
Look for property in developing areas that will soon come under
the City Municipal Authority.
Select a property that has good resale value and is close to
markets/shops, medical, educational and religious facilities, and
to your places of work.
If you are an investor, check if the area is preferred by foreigners
or executives of multinationals. Such areas generally command higher
deposits and rents.
Finance
Check your financial situation. How much loan will banks, home
loan institutions and your company provide? Don't hesitate to avail
of it. The appreciation in the price of your property over a period
of time will more than repay the interest you shell out.
Calculate the rate in Rupees per sq. ft. of the home you propose
to buy, after deducting cost of additional items like stamp duty,
registration charges, extra amenities, car park costs, etc. If you
fail to do this, you may find yourself running out of funds to complete
the purchase.
Choose your builder with care
It is always the wisest course to confirm a builder's credentials.
Is the company the member of a promoter's association? Are the legal
advisors, architects and consultants sufficiently experienced? Has
the builder completed earlier schemes? Talk to the occupants to
find out more.
Check details
The size and shape of the rooms should meet your requirements.
Do you require a swimming pool and clubhouse? If not, why pay
more for their maintenance?
Check all amenities - approach roads, floor finishes, doors, windows,
entrance door/grill safety.
Enquire about availability of water and electricity in the area.
Check out the drainage.
If you do your homework properly, you're on the way to your dream
property. Take time. Take trouble. Talk to people who have recently
made a purchase. It's worth it.
| Courtesy: Times of India |
 |
|
|
|
|
2:09:26 PM 
