Buying a property for the first time may seem like a daunting task to person especially for first-time buyers. The buyers need to take an informed decision when it comes to investing in a property in Navi Mumbai or any other properties across the country. A correct decision will lead to happiness and financial security whereas the wrong one can point to potential problems.

Before investing in a property, the Real Estate Developers of Navi Mumbai recommend the following checklist that will assist the buyer in making a well-informed purchase:

Developer credentials:

As per the rule of the Real Estate Regulation Act (RERA), developers and Builders in Navi Mumbai have to be registered before advertising a property for sale. The buyer has to verify the credibility and the track record of the builder when it comes to the quality, construction methods, completion and handing over of projects in Navi Mumbai.

Location:

If the buyer wants to invest in Taloja projects, they should first check the area of the property. The position of a project plays a vital role in increasing or decreasing the value of the asset. If the buyer requires a residential property in Taloja, the check of long-term viability, accessibility, facilities in and around the area and the amenities offered by the builder is a must.

Graph:

Whether it is an investment about Flats in Ulwe or flats in Kharghar, the buyer must assess the growth graph of that particular area. They must evaluate whether the area is in decline mode or has reached the point of saturation where there is an excess of amenities. If the property located in an area that is currently in the early stages of development, then the buyer must make themselves aware of how this development will affect their investment’s value.

Use:

The buyer must first determine the use of the investment before zeroing on an asset as it helps in deciding the future course of action. If the buyer wants the asset for his personal purposes, they receive the benefit of self-utilization and capital appreciation. If the buyer wants passive income, renting or leasing is a good option. Then there is the option of long-term and short-term hold that gives a quick profit on resale or is suitable for options like retirement or educational expenses.

Points to check:

If the buyer is interested in buying a property in projects in Ulwe, then they should make a checklist of the following points:

1.Confirm the travel accessibility like the nearest bus and train stations.
2.Whether the area provides quick access to hospitals, schools and other amenities?
3.The connectivity options to major business locations like Pune, Mumbai and others.
4.The ongoing or completed infrastructural developments like good roads, drainage systems and others.

Documents:

As RERA has mandated every builder to register their credentials, the buyer has to note down the registration number. They have to receive proper declaration stating the project completion period along with necessary land and building permits. The sale affidavit should contain the date of handover and the rate of interest in case of default from the builder’s side.

Whether the buyer invests in Projects in Kharghar or others in Navi Mumbai, they should make sure that the property fits all their requirements and every point on the above-detailed checklist as it helps them secure the best property in town.

Source: http://siddhivinayakhomes.co.in/the-real-estate-investment-checklist/