Being one of the emerging real estate markets, Hyderabad is proving to be a great source of investment for both homebuyers and investors. Apart from that, there was an increase of 24% in the sale of houses in the last quarter of last year, while the launch of new projects went up by 20%. A house is a long-term investment which is built with your hard earned money. It becomes essential to invest that money wisely in an increasingly commercialized industry.
While looking for a house for sale in Hyderabad, here are some of the key factors you need to consider:
The apartment you are signing up for must be cleared with all the government procedures. It is crucial to ask your developer for all the clearance and occupancy certificates. This includes Title deeds which have to be approved by Panchayat records, all the tax receipts paid by the developer for electricity and water supply. Make sure the plan comes under the sanctioned plans approved by the Greater Hyderabad Municipal Corporation, release certificate for the loan taken from the bank against the land, Urban Land Act Certificate, Development agreement, ownership documents, commencement and No Objection Certificate and Encumbrance certificates.
Bajaj Finserv Homes and Loans help customers make sure they are buying a Government approved project by providing personal assistance on all the documentation and procedures.
Experience matters while looking for convenient and affordable flats in Hyderabad. Hence, a proper research on reputed builders by gaining information on their earlier projects, and reading reviews can go a long way. Also, the land on which the plan is developed might be under litigation, a verification in this regard is a must. As a safety measure, you can also ask for a copy of the proposed plan’s blueprint, which the owner has got duly stamped by the municipal authorities. Bajaj Finserv Homes and Loans enlist only reputed builders that have a stable and consistent presence in the industry, due to their expertise.
Banks Associated for Financing
Nowadays, banks have become careful enough of which project or a builder to support financially. This is due to the fact that many developers have an inventory which is still not sold and hence, they don’t have enough cash for the completion of their projects. It can also be an important point which can validate the reputation of the builder, to know if there is a bank to back up the finance of the project. Hence, finding out the banks which have approved the loans of the builders you have selected, and which one is offering a good deal. Home Loans by Bajaj Finserv Homes and Loans could also be a great option to consider for financing your dream home.
Location, Amenities, and Extra Costs
While choosing affordable flats in Hyderabad is the prime concern, it is equally important to look for a location which is well within the reach of hospital and shopping centres. It also includes researching the areas which might witness heavy traffic jams during peak hours. Water supply, electricity, security and sewage systems are critical points to be kept in mind while planning for a qualitative lifestyle ahead. Additional costs like mortgage, parking areas, inspector and land surveyors, etc. might also come up while paying the amount to the builder.
One of the most important things is the actual area of the apartment you are purchasing. The layout in the drawings and blueprints can be a lot different than it actually looks, so a thorough visit of the site is a must.