Things Need to be Considered Before Investing in Flats

We don’t invest in flats every day, it a while for us to make an investment in the real estate. Investing in real estate involves a lot of risk which may reap a great amount of profit in future. To reap profit out of our investment we need to look after certain things before purchasing a flat. Now these steps are mandatory to be followed irrespective of the city in which you are purchasing the flat.  When we plan to purchase a flat we need to look after the following things: 

• The Right Location: - You may have to decide on the right location before pouncing for the kill and buying an apartment in Bangalore in a hasty manner. Make sure that you take all things into consideration, including the apartment’s distance from your workplace and its distance from nearby schools and universities (if you have kids!).

While opting for an apartment in Bangalore, you can either choose one that is located bang in the city’s commercial centre or one that is located in the peaceful outskirts. In case you have kids, the latter option would be more ideal. Commercial areas tend to be very noisy and bustling and all this can take a toll on you over a period of time.

• Good Infrastructure: - Check if the apartment is indeed your dream home or a blast from the past. A few apartments in India tend to be improperly furnished with no showers, fading walls, bad carpeting and non-existent furnishing. You’ll be investing all your hard earned savings in an apartment, so exercise your right in being choosy. Do not settle for apartments where bathrooms just have a pail and a bucket. Instead, you can opt for a beautiful apartment that is well furnished on all fronts.

• Establishing Limits: - The key to making a good investment is proper calculation. You should create a budget and stick to it, in order to make sure you don’t spend it all away on the apartment. List out your requirements, (what you’re looking for in an apartment) and check out the many housing complexes located out there. Compare the rates with your budget and pick out the one that matches all your criteria. Talk to the builders and question them on the advantages of taking up an apartment in their complex.

• Know Your Papers: - Verify whether the apartment of your choice has proper BBMP Approval Certificates.

Make sure you check the flat’s Khata Certificate. Ask for this from the owner of the place.

The property should have no loans dependant on it, so check the Encumbrance Certificate.

Employ a good real estate lawyer and verify the content of these certificates and the content of the Sale Agreement and Sale Deed with him/her.

Wrap up all your pending payments before the period mentioned in the Sale Deed and get a sale agreement.

Get your sale deed registered and get the Khata in your name.