4 Things Home Buyers Should Check Before Investing in Under-Construction Projects
The second-biggest market in India, the real estate industry is all set to contribute almost 13% to the country’s GDP by 2025.
While you might have already made up your mind of investing in properties, what can be more challenging is the number of choices that you will have in this huge sector.
The key question which arises here is whether you should invest in under-construction properties or ready-to-move-in homes. Investing in under-construction properties can be profitable keeping certain aspects in mind. Here are a few of them.
1. RERA Approved
One of the most important things for you is to check if the property that you are planning to invest in is registered under RERA. The advantage of this is that you don’t have to worry about the construction deadline and the possession date. You also have the liberty to check the progress of the project by visiting the RERA website.
2. Legal Aspects
Check if the layout and the plan given by the developer are approved by the municipal authorities. Another important thing to check is if there are documents that have been issued by respective authorities for giving infrastructure facilities. Go forward with the project only if all the legal aspects are clear and RERA complied.
3. Builder’s Background
It is important to do proper research about the past and present records of the builders/developers. This will help you avoid taking any wrong decisions. Remember that this investment is huge and a wrong step can destroy everything. Check on the financial stability and previous projects to get a clear idea about the builder’s quality and delivery.
4. Visiting the Project Side
Once all the paperwork is done, it is advisable to go for frequent site visits to know the progress of the project and if everything is running smoothly. Go and check on the facilities available, and keep a track of the things promised to you when you signed the papers. Have a look around and see what the hot spots are nearby and also the upcoming projects in the vicinity. This can influence your future home value
Saving bit by bit to buy your own home is a dream for each one of us. Taking a wrong step or a bad decision cannot be an option. Details checked, research done, and then you are all set to buy the home that you deserve. Gopalan Enterprises offers 2BHK and 3BHK homes in Bangalore that is RERA approved providing you with the best quality constructions and on-time projects.