Fix Your Investment Bucket – The first step towards owning your dream home is to fix the budget. It is preferable to do this in consultation with all the family members, take their inputs, know their requirements and at the same time act in accordance with the financial situation at home. Deciding on the location, the number of bedrooms i.e. 2 BHK or 3 BHK or more, the amenities available in the complex, and other important aspects of the property will depend on this important factor of the Budget.
Choice of Location – Location is a crucial factor to be considered in selection of the property. The location should offer homes in your investment bucket and at the same time offer the right social infrastructure for living. Apartments in OMR rank high in this factor as OMR has numerous reputed schools, colleges, good hospitals, restaurants, malls, banks, ATMs and all other facilities required for comfortable living. Moreover the prices of the ongoing projects that offer futuristic flats for sale in OMR is much less when compared to the price of the apartments in other parts of the city and the scope for Property Appreciation for the apartments in OMR is much higher. Properties in OMR have experienced 10 time appreciation in the past decade.
Background check of the builder – A reliable builder with many years of experience in the field of construction and goodwill amongst the clients is definitely preferable. Buying a house is a milestone achievement in one’s life and involves your investment both financially and emotionally, so choice of the builder is crucial to ensure the safety of investment. RERA certified builders and projects are a safe and reliable choice. Ask for the RERA approval number of the project to ensure RERA compliance of the property. It is easier to get loan approval from financial institutions for a RERA approved project.
Check Property Dimensions and Specifications – Property’s super built up area which includes the area of the shafts, elevator space, stairs, thickness of walls are usually specified by the builders. However, it is important to know the carpet area of the flat which is usually about 70% of the built up area of the flat. The carpet area of the flat will give you an idea of the total space in the house that is available for usage. Get a clear view of the amenities available at disposal. Gated Community apartments in thriving parts of the city like the flats for sale in OMR are highly preferred by Next Gen property buyers owing to the amazing range of amenities available for the residents. With new age facilities like swimming pool, Club house, indoor/outdoor game courts, Co-working spaces, and Rooftop amenities these apartments in OMR guarantee resort-style living each day.
Property Legal Documents – Ensure to check the title deed of the property, it gives all important details regarding the ownership of the land on which the property is constructed and obligations towards the property. Also check the developer’s approvals and NOCs from Area development authorities, Municipal Corporation, water supply and sewage boards, and electricity boards. Availing bank loan for the purchase of the property is a smart move as the financial institution would perform all the necessary due diligence. When you pay the advance for the flat and book it you will receive the allotment letter and a builder buyer agreement will be entered into, read all the clauses in the document, understand and agree to the same only on total compliance. You can also seek a legal opinion when there is ambiguity in the clauses.
With careful planning and execution execute the smart decision of owning your dream home, for Your home is the abode of your dreams and also an asset for lifetime.