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Tips For Purchasing Residential Property in Gurgaon

Written by Posted On Tuesday, 19 July 2016 06:47

Buying a home can mean different things to different people. To some, it could be the dream home that one has been waiting for, for others it could be the perfect opportunity for investment, to safeguard in times of need or a means to grow their wealth. Whatever the case may be, if you focus on NCR, then Gurgaon is by far one of the most lucrative options for real-estate investment. The high demand and a host of notable options make Gurgaon a hot destination for those wanting to buy a house. With an entire spectrum of options available, how does one go about deciding which residential property in Gurgaon to buy?

Here are a few tips that can help you:

1.       Fine tune your requirement

It is important to pen down what you want. Is it a 2,3 or 4 BHK? If it is for staying yourself, then look ahead 10 years so that you can look for a long term requirement. If it is for investment, then select the ‘hot-selling’ and fast moving range in the market. Having a clear requirement helps you save time and energy.

2.       Check out the locations:

Gurgaon is expanding in all direction. On one side is the Dwarka Expressway, kissing the boundaries of Delhi with swish upcoming projects like Tata La Vida andSobha International City. On the other side is expansion towards NH-8 and Manesar. HereBestech Park View Ananda and many Vatika projects are some known projects. Then there is the extension if South if Gurgaon into Sohna, with Ashiana Mulberry, ILD GSR Driveand the others creating wonderful apartment enclaves.

Be sure that you have studied about all these locations and then select the one that suits you.

3.       Stage of the Property

A home buyer needs to understand what stage the construction is at for the interested project. A new launch or original booking from the builder is different from one that of a resale. Check out the developer agreement between the builder and landowner, and for resale, the agreement between investor and the developer. For constructed property, check out whether the seller has the title and possession and the right to transfer property.

4.       Reputation of builder and past record

Check out the reputationof the builder and how the company has delivered past projects. Visit their existing enclaves to verify how the property has been maintained after delivery. Has the Occupation Certificate been obtained for past projects? Talk to people residing there and then judge the builder’s performance.

Finally, do visit the said premises if you can. If you are a distant investor, do ask a local representative or your trusted investment age to do a site visit before you take the final call!

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