The only way to have luck by your side while investing is to “smart invest”. It’s okay if you have an instinctive scheme of things while picking properties to go for but if you have a checklist of to differentiate good from the better, your job just becomes easier.
So, what does smart investment mean? It simply means applying a number of smart measures before finalizing the worth of a project from various builders and then placing your bid on it. These measures are standard for each kind of real estate investment you’re going to make.
Let’s count these smart measures.
The first thing to check while crossing off any option from your list is to see if it is registered under RERA. All the modern projects that started or were under completion after May 2017 need to be registered with RERA. If a project fails to do so, there’s a high risk in putting your money in such a project. Also, if a project already has been completed before May 2017, you can leave that RERA thing alone.
The concept of investment revolves around the profit you are going to make on your returns. The return is directly proportional to appreciation. Therefore, you need to make a wide analysis of various appreciation circles in the region of interest and shortlist properties that offer the highest appreciation. If you’re not going to use the property for your own needs, the appreciation factor is primary.
Reputation of the Builder
In the uncertain world of real estate business, if there’s something to hold on to, its reputation. Rather than playing your bet on a newbie who is yet to make its mark in the real world, it’s always wise to look out for a builder who has a track record of successful projects and who also has a good reputation when it comes to delivering projects.
Amenities are the tiebreakers for any kind of real estate establishment. For whosoever is going to buy an apartment from a certain builder, will consider how comfortable it is to live there. The lack of one good thing such as all-day electricity backup or reserved parking for each flat makes hell lot of difference. Therefore, projects with good practical amenities should be given a higher rank in the list.
Project Banking Partners
After you’ve selected your top five, it’s time to filter out the financially viable ones. One good metric for this is to check what all banking partners have signed up with the builder. The presence of PSU banks such as the State Bank is a great factor in this choice. The reason being that these banks have a stringent passing
The last thing to check with the builder of your choice is the cancellation policy. In case, you do pay the booking capital for a property and decide to cancel your investment for arbitrary reasons, what will happen with your money? Is there a provision for a refund? If yes then how early will that be credited back to you and with what all deductions? All these things can increase your confidence for a project at last, if all others factors have proved it a smart investment.
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