Things Needs To Be Known About Properties And Buying Flats In Chennai

Overview of Properties in Chennai:

Chennai has a great influx of the IT industry as well as the other industries through the SEZs. Many people have migrated to these places in search of a better living apart from infrastructure development. All these factors have influenced the market for Properties in Chennai of having positive growth. As overall housing demand is increasing in the city, the real estate market is expected to have a bright future due to increasing employment opportunities, a rise in income levels, and improvements in infrastructure. There have been drastic developments to suit the needs of all kinds of people in all kinds of real estate projects.

Factors to be considered before buying Flats in Chennai:

Property Price:

The first step in selecting a flat or a house is fixing the budget for buying it. Brokers of the area, Portal listings, Newspaper listings are the sources of comparing the price of the properties with the ones surrounding it from various builders.

Flat’s Carpet Area:

A carpet area is an actual area within the walls of the flat which can be lesser than the built-up area to calculate the price of the property.

Land Record:

The soil quality and topography of the land on which the flats are constructed must be researched before buying flats.

Legal Check of Property:

It should be ensured that the property is authorized legally which is constructed on the plot it stands on.

Apartment Possession:

There must be a clear estimation of the timeline for possession as a buyer since the developers usually ask for a six-month grace period.

Financing Banks:

It is very important to check with the banks that are willing to fund the projects planned to be invested on.

Builder-Buyer Agreement:

There must be an agreement entered upon between the buyer and the builder when a house or flat is selected.

Location of the Flat:

The physical infrastructure, amenities, and reach to all the basic places are important to be analyzed. The flat should be in a secured and safe place offering some security to people living in the flat.

Hidden And Additional Charges:

Ensure that all the penalty clauses are understood and the other clauses of documents are read. Additional expenses like stamp duty, GST, and all other charges should be kept in mind.

So, each of these points should be remembered before buying New flats for sale in Chennai as buying flats is one of the biggest steps in life.

You May Also Like