The city of Gurgaon has come as a blessing for people looking to invest in Delhi real estate market. With the realty rates in Delhi at all-time record high for both residential as well as commercial sector, the buyers had to no option but to turn to renting. However, off late the rents in some of these localities have been at unaffordable levels with the renowned places fetching few lakhs for residential home. All of these factors have diverted the middle and high income group to Gurgaon property market.
The city of Gurgaon is easily accessible and well connected by roads to Delhi, Haryana and Uttar Pradesh. This city is home to approximately 10 lakh people and has witnessed rapid industrialization over the last few years. In fact, it is a base to more than 200 companies out of the Fortune 500. All of these factors have led to increased residential demand in this region. The realty industry hasn’t missed this opportunity and the city today has residential projects by some of the most renowned developers of India. As a buyer if you are looking to buy or invest in new property in Gurgaon, you’ll find several options in under construction residential buildings as well as ongoing housing projects from both local as well reputed builders. Let’s now have a look at some of the tips to consider before buying a new flat in Gurgaon –
Do thorough background check of the developer
Before putting your hard earned money in any property, you must carefully do a thorough background check of the developer. Do not proceed with the transaction if the track record of the builder is not clean. As far as possible, go with reputed builders having good track record in terms of project quality, delivery time, amenities offered, etc. You must even go a step further and check on consumer court website to see if there are any cases pending against the builder for not registering the flats, unfair trade practice, delay in possession, etc. This will serve you well.
Carefully go through all legal documents
This is the most important step before paying the booking amount for ready possession flats or upcoming properties. You must carefully scrutinize all legal documents either through a property lawyer or take help of property expert from online real estate portal like Housing.com. Check if the property is pre-approved by leading banks and take at least two legal opinions in case of any doubt.
Study the market well before buying
The most important thing in the realty transaction is to know the market well. Gurgaon is no different. You must check the prevailing market rates in the vicinity and proceed accordingly with the transaction. You must however be careful of not exceeding your budget as doing so could lead to future budgetary issues while servicing your home loan EMIs. The best way out here is to do the transaction through reliable online real estate portal like Housing.com. Here you can find several genuine property listings at all budgets, property size, built-up area, amenities, etc. sitting at your home. Also, this site provides you value added services like home loan eligibility calculator, demand flux map, price heat map, etc. to make your buying process easy, hassle-free and convenient.