Know About These Basic Details Before Buying Residential Apartments

Know About These Basic Details Before Buying Residential Apartments

Buying a home is a decision that involves years of planning and savings, which leads to extended payments ever after living in the said apartment. To ensure you make the best choice for a home, keep a cool and composed mindset and see this from a business point of view – emotional attachment is something you might want to avoid.

Buyers in Kolkata must take care of all issues right from the beginning, even before buying residential apartment as it turns out. As the saying goes, precaution is better than cure, and it is important to have a clear grasp before making a final purchase on a residential property. Thus, here are a few yet crucial details that homebuyers should surely keep in mind. 

Here Are 5 Crucial Features that First-time Home buyers Should Check

Legal Status of Property:

There are local government bodies in Kolkata that have the authority to approve or disapprove residential projects if seem fit. Thus, it is vital to ensure that the developer obtains approvals and NOCs from developmental authorities such as the Municipal Corporation, water supply and sewage boards, electricity boards, etc. At the same time, it is wise to check if the property is legally authorized to be constructed on the plot. Thus, don’t enter into agreements without legal approvals such as these.

Hidden and Additional Charges:

Most surmise that what is seen on the website is the fixed and final price and set their budgets accordingly. However, there are always extra and unavoidable charges that come around late to bite. Keeping money saved separately is one alternative, the other is to be fully aware of what you’re getting into. With residential apartments in Kolkata, here are some that are commonly observed:

  • Parking charges
  • clubhouse membership costs
  • Statutory charges
  • Internal/external development fees
  • GST charges
  • Home loan processing fee
  • Registration charges and stamp duty
  • Preferential Locality Charge (PLC)

Exact Size and Structure of the Apartment:

Prospective home-buyers are shown a sample flat by developers upon showing interest. However, it may not match what you see later on. Though seen as a marketing tool, don’t be misled by developers – find out the exact specifications of the living spaces. At the same time, there is another issue that involves clarity. Check out the project’s carpet area, built-up area, and super built-up area and be completely aware of the demarcations of space you pay for.                                                                                                                                                                                                                                                                                                                                                                                                   Funding Assistance:

Whether flats in Madyamgram or Rajarhat, almost everyone can agree that home loans serve the purpose of buying that home you’ve always wanted. While that serves one purpose, it comes with a crucial drawback – prolonged periods of payments. Of course, reputed developers are linked to leading banks and NBFC’s and funding has become comparatively easier. There are also certain funding schemes for the same. However, this is possible after a careful evaluation of your credit score, which helps in determining the loan amount and interest based on your monthly income.

Reputation of Builder:

Getting a perfect price for flats in Kolkata is not enough. Be it regarding quality or legality, a trusted developer is bound to make homes that fulfil each aspect of modern housing. Research cannot be neglected here, which is why one should go through customer reviews, previous projects, review websites, etc. to learn more about their reputation. Do your homework and you will have nothing to worry about.

This checklist is sure to save you time and energy in your search and guaranteed to help you in your final selection. Be it flats in Madhyamgram or New Town, your new home will not be complete if it does not fulfil these aforementioned vital parameters. Buying an apartment is one of the biggest financial decisions that one can ever make.

So, make it count.