Given below are the top 10 things that you must know before investing in an apartment in a township:
1. Location of the apartment – Study the location of the project thoroughly and ensure that the physical and social infrastructure of the locality is robust and developing.
2. Builder of the project – It is always advisable to invest in an apartment that a reputable builder is constructing.
3. Land – Study the paperwork and ensure that the land the project is being constructed on is stable and of superior quality.
4. Price – It is imperative to fix a budget before deciding on an apartment. This way, you can shortlist properties that fall within your budget and not overspend.
5. Legality – The legal status of the property on which the apartment has been constructed has to be clear and free of all hindrances.
6. Carpet area – Check the carpet area of the apartment you are interested in, which will give you a clear idea of the space that you will have.
7. Finances – It is always essential to check what financial institutions are willing to invest in the project you are interested in. Reputed builders usually have approval from all major financial organizations, but it is best to be sure.
8. Additional charges – All property costs have hidden charges such as stamp duty and GST that you have to consider before investing.
9. Amenities – The amenities offered at a township significantly add to the residents’ lifestyle. You must ensure that the township you are going to invest in has all the amenities that you and your family desire.
10. Clear builder-buyer agreement – A clear builder-buyer agreement is a must before investing in a property. This agreement must make mention of the date of possession as well as additional charges that will be levied.
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