Answers ( 3 )

  1. This answer is edited.

    Due to the Corona virus Pandemic, the entire economy has shaken up. Today, many major industries are facing an economical crisis and the real estate industry is no exception. According to a few reports, the property prices in major cities have gone down drastically. Analyzing this, many real estate advisors say that it is a great opportunity to invest in real estate right now.

    Owing to this situation, many builders and developers are coming up with various schemes and offers to attract customers to sell the properties which are otherwise lying useless. This has made them lower the property rates as compared to the times before the lock down. Apart from that, there has been a reduction in interest rates on home loans by all the major banks.

  2. Buying a home is a lifetime decision and there are multiple factors that you need to take into consideration when deciding on buying a home. You will need to decide on the budget, location, BHK, your credit score, shopping for a home loan, searching and finding properties, shortlisting and finalizing one. can help you have all this done from the comfort of your home.

  3. Hi,

    I am assuming that you are looking for points to consider for buying property before doing the paper works. Here are a few things which you can consider before buying a property in India:

    1. Title Verification

    Title verification is the basic and foremost important thing you should do before buying a property. Title verification will help you understand the existence and validity of the property title. You should consider the property only if it is free from mortgages or previous unpaid dues.

    2. Seller’s Identity Verification

    After title verification, the next important factor is the seller’s identity. You should insist on the seller and get their legal documents like a PAN Card, Aadhar Card, etc verified. If the seller is an organisation, check for the company’s registration, TAN number, etc and other related documents.

    3. Construction Approval

    Now, it is very important to verify the building or layout plan. Check with the local bodies if the plan is approved by them. Also look if there are basic amenities like water supply, electricity supply and so on.

    4. Document Verification

    Next step is the verification of documents of the property. These include the type of land – residential, commercial, industrial, non-agricultural, mixed-use, etc; check for OC (Occupancy Certificate); property tax papers and so on.

    5. RERA Compliance

    Last but the most important. Check whether the property is registered under RERA (Real Estate Regulatory). You can simply do this check on the RERA website. You can also check if there are any cases or complaints filed against the developer, defaulted payments by the developer, etc.

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