Basic Points to Remember Before Booking Flats in Delhi
Real estate investment is often looked upon as profitable long term investment; provided you keep your eyes and mind open before investing. In a metropolitan city like Delhi where realty market is expensive and developers often come with schemes to lure buyers, it is best to remain cautious and then make your move. If you have the budget and want to book flat in Delhi then it is wise to remember some basic points to prevent getting mugged while making use of your hard-earned money smartly.
· Before searching for housing in Delhi, first decide on the type of property you would like to invest in - a villa, apartment flat, penthouse or a bungalow and the area of the house.
· Pre-decide the budget or the price range for your intended property. Along with this, also look into the amount of home loan you could procure along with taking in account the outward EMI flow from your monthly salary.
· If you have a big budget and can also spend higher on EMIs, then finding roomy residential spaces in Delhi’s hot locations will not be a problem. As it is the secondary market in Delhi has witnessed a dip of 25%-30%, so getting a flat in one of the prime localities is quite possible. However, if your budget is modest but you intend to buy bigger sized house then move towards fast-developing localities or towards the outskirts of the city. Presently areas like Dwarka, Mehrauli and New Ashok Nagar have good supply of spacious residential units in varying sizes and affordable price brackets. Look into these options before you jump to book flats in Delhi and make your investment.
· An experienced and reliable real estate broker will help you a great deal in not only searching for good residential projects but also during talks/transactions with the developer. However along with that do your own researches too. Carefully go through online property sites and newspaper advertisements to know about ongoing and ready-to-move residential projects. Some of the noted developers in Delhi who have premium ongoing or completed projects are Ansal Housing, BPTP, DLF, Emaar MGF, Omaxe Ltd, Ramprastha, Supertech, Unitech, Vatika, Raheja Developers, etc.
· After you have rounded up on 2-3 projects, gather information about the developer (his reputation, previous projects, etc.) whose project you are finalizing. It is only after this that agreement and registered legal documents should come into picture, but only after reading them carefully and knowing what all facilities you are entitled to get and enjoy.