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4 do’s and don’ts that every home buyer needs to know

Mumbai

 

 

 

 

 

 

 

Do’s

Do check your financial capabilities and hasten your home buying process with a pre-approved home loan

Do check for the necessary approvals for the use of the plot for the proposed project to avoid legal complications

Do thorough financial planning before investing in a property keeping in mind your future liabilities

Do follow online real estate forums to check the builder’s credentials and interact with other home buyers

Don’ts

Don’t invest in a property where the owner is not able to produce the parent documents

Don’t invest in a property where the construction is not done as per the approved plans

Don’t over borrow. As a rule the total EMI going out of your pocket should not be more than 40% of your monthly income

Don’t go blindly for projects offering good offers and deals

Image: “Mahindrage” by X2spanish at English Wikipedia. Licensed under CC BY-SA 3.0 via Wikimedia Commons – https://commons.wikimedia.org/wiki/File:Mahindrage.JPG#/media/File:Mahindrage.JPG

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8 comments

  1. Mohammed Arifuddin Ahmed

    Thanks for the information

    • Mohammed Arifuddin Ahmed

      Thanks for the information, please provide me more information regarding plots, apartments and villas inside and surrounding of hyderabad City.

  2. People blindly like sheep are jumping into the traps of property developers, promoters and retailers. A real estate regulatory authority to check malpractices to save hard earnings of people will go a long way in this all consuming harakiri game!

  3. Pushpalatha Sundaresan

    Thanks for this useful information

  4. How to verify the documents if trying to buy a house from overseas by an NRI?

    • Hi,

      We have forwarded your query to our legal team. It will be answered shortly.

      Team IndiaProperty

    • Title deeds, approvals, statutory connections, trace of the title, building
      plan, electricity, property tax, zone checking all are needed – if there is
      a bank involved in the middle for loan, they also do it independently.
      Without verifying the documents, it is not advisable to take a call. There
      are independent experts available for this service.

      Team IndiaProperty

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