Stepping into the captivating world of Indian real estate can be a little daunting task at first. Investment in itself is a roller coaster ride, especially when it comes to first-time buyers. Beyond the bustling cities and tranquil surroundings exists a domain that emotionally binds us to our yearning for security, peace of mind, and a legacy to carry on. Investing in Indian real estate is more than just a financial venture; it is a pathway to achieving your goals.
Here is a beginner’s guide, where we will lead you through the wide landscape of Indian real estate, helping you to make informed decisions and embark on a transforming adventure. In this blog, we will unlock the complexity and uncertainties that frequently accompany this journey. Let’s dive into an insightful voyage of what all you should know as a beginner in this vast investment arena.
Real-estate investment know-how for beginners!
First things first, this blog will drive you through the Indian real estate industry and unravel the complexities of varied property kinds, investment techniques, legal issues, and new trends that are the torchbearers of this sector.
However, while reading this blog, you will get a clear idea of what needs to be done while making your first investment or buying your first home. Prepare to navigate through Indian real estate.
- Neighborhood of the property
Sometimes you will find everything you need in one single property, but it might not be well connected to your places of importance like hospitals, supermarkets, metro stations and so on.
Therefore, the importance of owning a home in the right locale can never be overstated. Things such as accessibility to amenities, schools, transit, and opportunity for expansion when purchasing real estate is of utmost importance. A suitable location may raise the value of a property and attract tenants or prospective buyers. It will also help you get good returns in the future and the appreciation value might constantly increase. So, it is mandatory that you choose the right location surrounded by a neighborhood that suits your needs.
- Know your finances
Owning a home is a long-term investment, and setting a budget in place is the first thing you would have to do. Negotiating is a skill every homebuyer must possess as it helps during the process of house hunting.
It happens very often that a plush property with great amenities, greater facilities, and grand lifestyle would lure you to buy it in a go, but it might ruin your budget. Therefore, know your spendings and search for properties that suit your budget! It is the most important and emotional decision of your life, so be aware of what is needed and where to spend.
- Know what documents are necessary
If you are planning to buy a home, be aware of all the tedious documentation processes you will have to go through. Knowing which exact documents to ask for before signing the sale deed, and having a detailed knowledge about which documents are needed from your end will save you from any inconveniences during the finalization of home. This way, you will get enough time to gather your documents if missing.
There are a ton of fees you need to pay before finally booking a home. It’s better to get in touch with a professional consultant and have in-depth knowledge about the same. A few things you need to pay for are stamp duty charges, registration charges, tax registration charges, etc.
Some of the documents that are of utmost importance are the title deed, proof of property tax payment or utility bills payment, khata certificate and much more, it is always helpful to take proper guidance from a professional for these documentations.
- Know your developer
The real-estate arena has evolved exponentially through the years, but one thing you should keep an eye on is the reputation of your real-estate developer. Here is when technology helps you the most, you can always search for the track record of the specific developer.
Check on your developer’s profile, check for the history, and what feedback is given online for their respective projects. That’s how you will know whether to go ahead or not. Ask people who are staying on the premises and people spread around the neighborhood. That’s the best way to know what you do not know about the developer.
- Construction quality of the project
Construction quality is one of the most important aspects that decide the success and longevity of any project. Do a thorough check on the property before you decide to move in. Maintenance of safety, durability, and best-in-class specifications will only lead you to more mental peace.
Know that the place you are going to call home is thoughtfully designed, meticulously planned, and has a good construction quality. From fittings and fixtures to the outdoor specifications, take a proper tour to make sure you make the right choice.
Investing in real-estate in the current timeline would be of great benefit. With the rapid development with growing infrastructure and cities turning into metro cities this is the best time to own your home.
If you are looking for real estate investment in Pune, then do check out properties developed by Pharande Spaces. They have well-developed projects in some of Pune’s liveliest locales. Puneville, L-axis, Vaarivana, Kairosa, Vaanya, and Felicity are some of their benchmark projects that are all set to break the normal norms of the residential community.
Overall, have a safe journey while investing in any real estate project and choose wisely!