Tuesday January 21, 2020
Home Business Ultimate Real...

Ultimate Real Estate Guide For First-Time Homebuyers In India

An increasing number of people today are looking to buy their dream homes. The current Indian real estate market is flourishing, making it the best time to invest in the real estate industry.

0
//
houses
Homebuyers have multiple choices available to choose from -- apartments and flats to villas and villaments. Pixabay

 

In India, owning a home gives people a sense of pride, security and stability. A host of first-time homebuyer benefits and a slew of economic policies are making house ownership accessible to all. An increasing number of people today are looking to buy their dream homes. The current Indian real estate market is flourishing, making it the best time to invest in the real estate industry.

If you are looking for real estate in Pune, Kolte Patil Three Jewels is an integrated township spanning 35 acres offering well-spaced apartments amidst wide expanses of nature.

The home buying process can seem confusing if you are a first-time homebuyer. This article presents the ultimate real estate guide to help you understand the various steps involved in a home buying process:

Houses
If you are a first-time homebuyer, you may take the help of the above real estate guide to walk you through the critical areas of the home buying process. Investing in real estate is a huge commitment. VOA

Assess your needs

Homebuyers have multiple choices available to choose from — apartments and flats to villas and villaments. You can assess your needs by asking questions such as what kinds of accommodation would suit your family size. Does it have all the amenities you are looking for? Is it something you can accommodate in the current budget?

Check your credit score

Most first-time homebuyers opt for a home loan as funding a new home entirely from one’s savings can become burdensome. To know your status of being approved for a home loan, you may want to check your CIBIL score. A low CIBIL score could mar one’s chances to obtain credit.

Check the builder’s credibility

Once you have finalised the location and the type of residential building, look at projects managed by reputed builders in the area. Read more about their past projects, whether they complete housing plans on time, quality of construction, etc. before finalising on a property. You can also read homebuyers’ reviews that have purchased properties from a particular builder.

Buyer-builder agreement

This is a three-way contract between the bank, builder and you to be signed when booking a house. This contract is finalised with a token fee that seals the agreement. Ensure you read all the terms, conditions and understand them well. You could also seek the services of a property lawyer to help you understand the clauses.

houses
Once you have finalised the location and the property type, seek top builders offering projects in the area and verify their background. Pixabay

Approvals and licenses

You can save yourself from unwanted hassles by ensuring a builder has the necessary legal approvals and certifications in place. Some documents that to need to be checked include title deeds, RERA certificate, encumbrance certificate, NOC by relevant bodies, environmental clearances and so on.  

If you are looking for financial assistance to purchase a property in Pune, you can avail a home loan from Bajaj Finserv Homes & Loans with credit up to Rs. 3.5 crore. Avail an easy loan with minimal documentation and features like property search assistance, flexible tenors, and easy part-prepayment and foreclosure facility.

Summary

If you are a first-time homebuyer, you may take the help of the above real estate guide to walk you through the critical areas of the home buying process. Investing in real estate is a huge commitment. So, it is essential to assess your needs before you take the plunge. For example, if you are a family of four with kids, a property with necessary amenities like schools and nearby kids’ play areas can be an advantage. It is equally vital to check your CIBIL score to ensure you qualify for a home loan. Once you have finalised the location and the property type, seek top builders offering projects in the area and verify their background. Book the property after ensuring all legal documentation is in place and you have fully understood the terms and conditions of the builder-buyer agreement.    

Three Jewels in Pune is a magnificent township located at Kondhwa. The housing project offers 1 BHK, 2 BHK and 3 BHK flats that are well-designed, spacious and cater to people of different income groups. Three Jewels provides its residents with excellent amenities that include a swimming pool, flower garden, library, event space, multipurpose courts, conference room, reserved parking, kids play area, gymnasium, indoor games room and much more.

Also Read: Microsoft to Increase Skype Group Members to 50

Get the best financial assistance to buy a property in Pune, by availing a home loan from Bajaj Finserv Homes & Loans. Avail an easy loan up to Rs. 3.5 crore with minimal documentation and other features such as property assistance, easy tenors, and simple foreclosure and part-prepayment facility.

Next Story

Property Investment Tips in Hyderabad and How Should you Choose your Ideal Property

Many people look for a house for sale in Secunderabad,Narsingi, Kukatpally, Kondapur and other pockets

0
Property sale
Real estate in Hyderabad has remained a hot spot for property investors at all times, irrespective of the downtrends in the rest of the country. Pixabay

The real estate market in most parts of the country has remained sluggish over the past few years owing to demonetization and other reforms by the Government. But real estate in Hyderabad has remained a hot spot for property investors at all times, irrespective of the downtrends in the rest of the country. The positive outlook of the Government of Telangana in terms of elevated IT corridors, aggressive infrastructure development, strategic road networks, metro rail, etc., has helped the city to keep up with its sustained growth rate.

The Pearl City of India ranks high at the livability chart with its world-class amenities and ample employment opportunities. Hyderabad is also one of the fastest IT and the ITES hubs in the country that houses the top fortune 500 companies. This has, in turn, fueled the real estate growth in and around the city. The city is one of the hottest spots for real estate investment in the country and faces high demands among home buyers and investors to buy a property in Hyderabad.

Property investment
Buying an investment property is one of our country’s most favorite ways to invest. Pixabay

Current property trends in Hyderabad:

Many people look for a house for sale in Secunderabad,Narsingi, Kukatpally, Kondapur and other pockets that attract the maximum buyer inquiries during the recent few years. These suburbs in Hyderabad are the hot housing spots with more than 56.5% inquiries made regarding the availability of houses.  It has also been found that the 3BHK apartments are in high demand in Hyderabad compared with 2 BHK and 4BHK categories. Also, there is an excellent demand for upper mid-level projects in the city. Properties that are in the price range of Rs. 71-80 lakhs are browsed up to 20 times higher than projects that are in the price value of 30-40 lakhs.    

The best destinations for property investments in Hyderabad:

Buying an investment property is one of our country’s most favorite ways to invest. An investment property not only increased one’s wealth but also helps in securing one’s financial future. Some of the top destinations to look for properties in Hyderabad are as follows,

1. Secunderabad:

Secunderabad is one of the hottest destinations in Hyderabad that is filled with luxurious villas, houses, and apartments. It is the prime location in the city and houses a major railwayjunction and bus stand. Thousands of commuters travel across Secunderabad to reach their place of work and study. Buying a property here is not easy and could be highly expensive. People look for a house for sale in Secunderabad as their long term investment or to enjoy a high return on investment through rents. Investors show tremendous interest in booking commercial properties in Secunderabad more than residential plots.

2. Rajendra Nagar:

This is at a prime locality in Hyderabad and features a significant uptrend in the demand for residential spaces in the past few years. This place has many advantages such as, advancements in transportation, connectivity, superior infrastructure and security facilities which attract investors to invest in its diverse properties. It is very close to the Secunderabad railway station and the Rajiv Gandhi International Airport. Rajendra Nagar is connected with some of the business districts in Hyderabad such as Banjara Hills, Begumpet, Hitech city, etc

3. Nacharam:

Investors looking for villas in Hyderabad choose Nacharam as their destination. This is considered a high investment zone in the city and is known for its excellent infrastructure, reputed schools and hospitals and other amenities such as shopping malls, hotels, banks, etc. This place is urbanizing at a rapid pace and properties here are priced lower as it is about 60 km from Hyderabad. But this is the hot investment destination for real estate investors owing to a range of low- priced investment options

4. Kompally:

This place is also referred to as the real estate gem of Hyderabad. Though it is on the outskirts of the city, it is transforming from a suburban district to a thriving destination at a fast rate. It is the new educational, industrial and residential center in the city and is known pretty well among the NRI investors of the country. Though this place lies in the affordable investment segment at present, it has excellent potential for world-class housing. Its social and connectivity infrastructure is also developing at a fast rate.

5. Shankarpalli:

This place, also known as the green belt of the city is the best destination to book villas in Hyderabad. IT is just 11 km from the HITEC city and is the land for world-class educational institutions, health care centers, recreational zones, and resorts. As this place is close to Cyderabad and is easily accessible to other districts of Hyderabad, many NRIs consider this is a risk-free venue for residential investments.

Property Sale
Hyderabad is one of the hottest spots for real estate investment in the country and faces high demands among home buyers and investors to buy a property in the city. (Representational Image)

Some investment tips for prospective investors:

Investing in residential or commercial property has grown to be India’s preferred and favorite ways to invest. A property should always focus on increasing one’s wealth and in securing one’s financial future. But this is possible only when one manages their investment effectively by the following ways and channelize the same in the right way to achieve their financial goals.

  • It is important to choose the right property at the right price
  • It is important to keep a watch on one’s cash flow
  • It is mandatory to choose a property from an efficient property manager
  • Investors should understand the market thoroughly and buy houses, apartments or villas in Hyderabad from trusted parties
  • It is good to check the age and the condition of the property thoroughly before making an investment.
  • Before investing in a property it is mandatory to foresee its long term view and manage the risks accordingly.

Also Read- $20M Saudi Cup Attracts 143 Potential Entrants

Final words:

There are abundant and ample residential units available in Hyderabad and Secunderabad to meet the housing needs of its existent and immigrant population. But finding the right property at the right place is the challenge in choosing the ideal investment. This is where housing.com helps investors in choosing the best property at different locations of Hyderabad. It is possible to pick Hyderabad properties at housing.com according to one’s budget and investment portfolio.