An investor requires to invest a huge amount of money when it comes to real estate investment, which consists of several risks. These factors make it necessary to think over all the aspects of the investment carefully before making the final decision. Lack of knowledge of the industry and related rules and regulations might lead to a wrong decision. The inclination to own a property has increased due to the pandemic induced insecurities. With this tendency, the importance of the information related to the complexities of investment in realty has also risen. The major points one should consider are here
RERA is framed and implemented to curb the malpractices in the sector and ensure security to buyers. It has made real estate transactions transparent. The investor should check the project registration with RERA. It can be confirmed online through RERA Website. It would be extremely beneficial to review the property on the parameters of RERA.
Location is an important point to consider before investing in property as it decides connectivity. Accessibility to roads, public transport, healthcare facilities, educational institutions and other important infrastructure depends on the location. Property should be analysed to understand the potential of the site. A close look at the layout of the property is also important to understand the complete system created at the site.
Security and amenities
Security is a primary concern today for all. Security from the unsocial elements as well as biological threats such as viruses has become vital. An individual looking for investment in real estate should check all the security features at the site. Another important point to consider is the amenities offered by the developer. Maintenance charges, electricity supply, water charges and other such extra charges must be considered before finalising the deal.
Understanding the title of the property is extremely important when it comes to investing in realty sector. Legal advice from a reputed lawyer should be taken to understand this complex issue better. It is more important in case of secondary sales. Sometimes, unpaid due or some charges are hidden from the buyers in property agreements by the broker or seller. It must be given due attention.
Compare market prices
Investors should compare the prices in the market before making the final decision about investment. It will ensure the best offer. Besides, it’s good to know the brand value of the developer for future valuation.
Real estate investment is a very big decision as it involves a whopping amount of money. This is the reason why one should check all the required detail before investing. It is also important to avoid future disputes. One should investigate every aspect in detail and then only make an investment in property. It makes the advice of reputed consulting agencies vital. A legal assistant will also help in making the buying process easier.