Buying dream villas is always an important decision. Buying flats in thrissur without doing a proper research will be a bigger pitfall. People rush in and buy, and are left to deal with the consequences. Our hard earned money, time and energy to buy a villa for sale in thrissur will be in vain. You have to be extra careful and make all necessary verification of documents, property specifications and other details related to location, bank loan facility, drainage, connectivity, water supply, etc.
Important parameters for purchasing properties are the location, price and the possession date. However there are many other important things to check for before you finalize the deal. The major points to consider while buying a flat is given below:
Property Research: Search platforms allow buyers to compare offerings to ensure they are paying within fair market range. Searching for your future apartments in thrissur on online portals can also assist in identifying community-focused agents who can assist with guiding you through the process. Talk to real estate agents and your mortgage broker to get a sense of what’s happening in the local area. Make sure you understand how properties are valued and how that differs from what the list price may be.
Budget: You need to know how much money you will have each month to meet your expenses. According to your budget, you can plan to buy flats. Do a proper cost estimation to avoid further difficulties. Some builders in thrissur might have additional costs for maintenance, electrification service tax etc. This will escalate the actual property cost.
Location: It is best to get an apartment in a location close to your workplace and the areas you visit frequently. Make sure to choose an area which has easy access to reputed hospitals and schools.
Builder’s reputation: Research your builder’s background and visit a few of their other projects, if the apartment you’re interested in is still under construction. You can visit the old projects from the builder to check the quality standards followed by the builder. It is best to choose from reputed builders in thrissur who have completed their projects in the proposed time, without compromising on the quality of materials used for construction.
Choose properties with clear titles
To avoid any unpleasant surprises and legal complications, it is necessary to check if the property has a clear title. Check the sale deed and ensure that the layout is approved by government Development Authority.
Check for legal approvals and clearances
Verify the paperwork’s from the builders which ranges from the clearances by the government to approval of environment department. Check the details such as title deed in which clarify owner ship right, mortgages, obligations on the property etc. As well as check out commencement certificate, land use certificate, no objection certificate, encumbrance certificate etc.
Verify the bank tie ups.
A bank will not support a property which has legal difficulty associated with them. Banks do a better checking of the projects about the legal difficulties and financial risks. Choose a project which has a good tie up with the bank and finance is easily available.
Inspect the property
Most apartments under construction have a model apartment which you can check out. If the apartment is ready, make sure you search every nook and corner for any imperfection. Make sure that the builder has delivered every promise.
Mobile Tower / Hoardings: Normally the terrace rights are retained by builders and you should clarify if builder has any plan to let out the space for Mobile Tower or hoardings. For buyers on top floor, mobile tower can devalue the property by up to 40%.
Hire a lawyer
In order to make sure that you’re not being taken for a ride, hire a lawyer. They will spot any loophole or discrepancy in your builder-buyer agreement. Your lawyer should check the property’s title deed and all the legal documents concerned.
Copy of Agreement: Though most builders in thrissur are hesitant to share the copy of agreement before payment is being made but legally it’s your right to ask the same. Almost 99% of agreements are heavily in favour of builder and buyer has no option but to sign the same. Another reason is that after booking amount is paid, builder will not listen to you therefore ask for copy of agreement in advance. It will give you fair idea about the project.