Whether you are planning to buy a house in Chennai to live in or from an investment point of view, you need to choose wisely. There will be a lot of options to choose from at all times, but only a prudent buyer will make a sweet deal.
In a cosmopolitan city like Chennai, there is always a great demand for real estate. Not only the demand for real estate, but the supply channel is also growing. With so many new housing societies developing, ads for apartments for sale in Chennai are a common site.
How to Start Looking
Buying a property is a major investment decision. Those who are aware of the real estate make a great choice of property that will appreciate in value. However, for all the others it is a very gruelling and tense time as we are not sure if we are making the right choice.
The best thing to do is check out all the sources from where you can get an idea of the real estate market. Get a feel of the property from an outsider’s point of view and that will give you an understanding of whether the property is rightly priced or not. Once you start searching for properties, there would be loads of properties to look at. This can be a time consuming process and it might be a good idea to outsource the job to people who have knowledge in this filed.
Location is the most important point to consider while buying property. Even a ramshackle house in a good location can be a great investment decision as the property can be repaired, but a location cannot be changed.
Tips to Make Your Buying process Smoother:
Choosing the right property to buy is not only a time consuming and tedious task, but it also needs intelligent thought. Here are a few tips that you should keep in mind while selecting a property:
- Based on your idea of a dream house and your budget constraints make a list of requirements from the house. This will save a lot of your time as you can make a short list of houses to look at based on these requirements.
- While selecting an apartment always ensure that the builder is reputed. See that all the legal paperwork is in order. NOC certificates from MCD, development authority and different utility suppliers will ensure that you will not face any hassles once you start residing in that house.
- Ensure that the property has a clear title deed. This is important to get a Home Loan, as the banks will check all the deed papers before sanctioning the loan.
- For an under construction apartment in a newly launched housing complex, get the allotment letter and the development agreement, which will contain detailed terms and conditions of the permitted development plan.
- If you are buying a constructed property, ensure that the builder has the title of the property and has the rights to transfer the property to someone else. Check to see that all utility bills are cleared and save the documents.
- Have a clear understanding of all the legalities involved in buying and selling of properties. Ensure that all legal paperwork in completed well in time.
Internet has also made the real estate market very accessible for all buyers and sellers. All you now need to do is log on to a website that deals in properties and you have instant access to all the apartments that fit your idea of a dream house that is also within your budget.