What To Buy?
There are many residential formats to choose from – Residential plot, apartments, single floors, independent houses and multi-storey flats. Given below is a representation of how each type of property is represented city-wise on the gatewayhousing.com portal. This is a representation of property in the top cities.
Tips To Customers Who Wish To Buy Property
Check for proper conveyance of title in favour of the Builder.
Check the License/Development right/approvals of the Builder.
What Makes More Sense - Rent Or Buy?
There is a simple way of judging whether to buy a property or whether you should lease one now. If you find a house that you would like to stay in, that is close to your workplace or easily accessible from there, then buy it. But remember that the Equated Monthly Instalments (EMI) on your property should not be over 40 per cent of your monthly salary. That way you would be comfortable paying it back. You need 10-15 per cent of the cost as your personal contribution to the purchase, as banks do not lend 100 per cent.
The location should be within approved/sanctioned master plan.
The location should have good connectivity.
Infrastructure services such as power, water supply, drainage and sewerage should be present.
What Is The Right Time To Buy?
Ask yourself why you want that house? What really is the motivating factor when it comes to your decision to buy that house? Do you want to buy it because you want to live in it with your family or do you look for an extra income that the house will bring in the form of rent? Or, are you simply buying it for long-term value leverage? The more you know about why you should buy a home, the more focused your search will be and the better you will be able to select one that meets your requirements.
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