Meticulous planning, relentless research, and conversations with experts – you have a lot of work to do when you get ready to buy an affordable apartment in a huge city like Bangalore. We give you a handy four-point checklist that you just cannot ignore.
Checklist #1: Your budget
The first and foremost thing to take into consideration when you decide to invest in a budget home is the hidden costs that you normally do not see in the advertisements. A substantial amount depending on the total worth of the property will have to be set aside for registration costs. You will have to allocate funds for parking space in your apartment complex. And it takes money to do the woodwork and other interiors to transform your apartment into your dream home. Don’t leave out the maintenance deposit when you plan the funds. All these, are in addition to the payment for the flat.
Checklist #2: Location and amenities
Once you decide on your budget, you can narrow down the area you want to live in. It is not every day that you invest in a dream home. Your home should ideally be at a place where you unwind after a long tiring day at work. And it should be in keeping with your budget.
Checklist #3: The paperwork
Once you have finalized on the affordable home of your choice, be ready to spend a lot of time to verify if the land has clear and marketable titles. Even if it takes a bit of time, check the previous title deed, flow of title, revenue records and encumbrances. Ensure that the land on which your apartment is on is a mandated residential plot. If this is your first home, the process could get tedious for you and it is advisable to get a legal adviser to clear your doubts.
The paperwork does not end here, it is just the beginning. You need to check the building plan sanction, a Khata certificate for registration, commencement certificate, and occupancy certificate are just some documents that you cannot do without.
Checklist #4: The reputation of the builder
Again, do a bit more homework. Look up every available detail about the builder you have decided to go with. Now, with RERA coming into effect, there is more transparency. Make sure you ask questions and go prepared for interviews with your builder.
At Provident Housing we have always stressed on uncompromising values, customer-centricity, robust engineering, and transparency in business operations. A subsidiary of Puravankara Limited, a leading real estate company that has over forty decades of experience in delivering quality homes on time is our motto.
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