May 18, 2024

Jocuri

Mad about real estate

Property India

Are you planning to invest in property in India? But watch out for there can be a number of intricacies linked to it. If you are a novice in real state business, do not make haste in investment since your claim of ownership can get transformed into lifelong litigations. You need to examine all the terms and conditions carefully before staking your money. Also, do take care to adopt security methods for avoiding any kind of illegitimate dealing.

If you wish to buy a furnished apartment in a community dwelling, you need to take care of all the basic features including flooring, paints used, prime amenities, electricity wiring and switches, lamps, door panels, windows, plumbing etc. If you cannot make the down payment and wish to buy it through the mode of home loan, it will not start until the finance company pays the initial and final deposits. The buyer needs to pay an EMI until the respective finance company makes the final payment to the real estate promoter, who is the builder of the apartment.

If you plan to invest in an apartment under construction, it will be a lucrative deal for you since such an apartment will be cheap in comparison to a ready-to-move in apartment. But in case of late construction, you might end up suffering from considerable losses since you will be expected to pay more EMI and the final deposit from the end of the finance company will get delayed all the more.

If you plan to buy an agricultural land in India, you might not be fortunate to seek permission of the government to go for any kind of construction on the same. However, in this case one needs to be extra conscious since there might be big catch involved and the terms and conditions are more often too ambiguous. Let us understand it better with an example. Suppose, a person is an owner of the land but the ownership rights over the crops grown on the land are with someone else. In such a scenario, there is a lot of confusion as far as possession over the land is concerned. So to avoid this ambiguity, the investor must acquire a copy of the plan approved by the regulatory authority.

So what are you waiting for? Property in India will soar high with every passing year. Hence, it is a great investment option provided you are fully aware of all the rules and regulations.