5 Things to Keep In Mind While Buying Flats in Haridwar

Buying a property is a big decision for a middle-class family, they put their life saving for purchase their dream home. In this situation, when life savings are at stake, you don’t want to take any chance. Due to that we are here sharing a few points that help in finding outing the best deal for you.

1. Verify the Price of the Flats

The very first step that you should take while choosing a flat or an independent house is to fix your budget. It helps in making everything so easy. It will make the whole process of shortlisting a flat or a house very simple. You should compare the price of the flat that you like with those surrounding it from different builders for getting an idea if that builder has given you a fair quote. There’re a lot of ways for getting a comparative analysis of the properties in the particular area where you are planning to buy a flat.

2. Builder-Buyer agreement

While choosing a flat or an independent house, you may book it by simply giving the token money and in return, you should get the allotment letter. Then the tripartite agreement should be entered between the bank, the buyer and the developer for the remaining amount. Make sure that you read and properly understand all the details before you sign it. All clauses mentioned in the agreement should be understood clearly and in case you have any doubts, you should ask the builder then and there. This is the most important document in a property deal and thus it is very important to understand the role of this document.

3. Location and its upcoming infrastructure

Another very important point to consider is to look at the area where you’re planning to buy the property in. The physical infrastructure, amenities as well as the reach of basic public places are very important. You should analyze all these factors very carefully. These factors would help you in having a peaceful life later on. So make sure that you check for these factors well in advance in order to avoid any inconvenience or dissatisfaction later on. The house should be safe as well as secure providing security to your family members.

4. Possession of your apartment

Delayed possession is something very common these days. The builders and developers delay the possession of the flats and houses in commercial as well as residential projects. Being a property buyer, you need to have a clear estimate of the time of possession. Generally, the developers ask for 6 months time period as a grace period but there has to be a genuine reason for this. You may check the possession of the previous projects of the builders. Check if they have given possession of their previous projects on time.

5. Additional charges

You need to make sure that all clauses of the legal documents are properly read. You should read all the clauses, especially the penalty clauses very carefully. The builder should pay you the monthly penalty just in case you don’t get possession of the flat or the house you are buying within the grace period. The additional charges like stamp duty, GST, registration fee, processing fee of home loans, and all the other additional charges need to be kept in mind. Sometimes people miss the additional charges clause and then later realize that they have made a mistake.

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