Things to look for while se­lect­ing a project

In­ten­sive re­search may save you from prob­lems like de­lay in pos­ses­sion and hike in in­ter­est rates

HT Estates - - HTESTATES -

a dif­fer­ence in the ser­vices and ameni­ties, the free­bies or the dis­counts? If the ameni­ties on of­fer are bet­ter than oth­ers, you should con­sider the project.

Third, check the com­ple­tion date. It is im­por­tant for you to know the month and year when the de­vel­oper is promis­ing to hand over the pos­ses­sion of your flat. The sooner you get pos­ses­sion, bet­ter it is for you to con­sol­i­date and plan your monthly ex­pen­di­ture.

As you move be­yond your pri­mary re­search and queries, the fourth thing you should check is if the builder-buyer agree­ment favours your in­ter­ests. And fifth, you should ask for some dis­count on the quoted/marked price. If all these checks are in your favour, you should go ahead with your in­vest­ment.

If the project’s lo­ca­tion, ameni­ties, sur­round­ing in­fra­struc­ture, price band and con­fig­u­ra­tion, and the com­ple­tion date suit your re­quire­ments, go ahead but re­mem­ber, be ready to make com­pro­mises if the de­vel­oper is giv­ing you an early pos­ses­sion but the flat is not avail­able at the floor de­sired or is road fac­ing in­stead of park fac­ing.

Such mi­nor de­vi­a­tions should not mat­ter if you are in­vest­ing in a project that is de­liv­ered on time and prom­ises healthy ap­pre­ci­a­tion. De­layed projects in­crease costs, the pre- EMIs in­ter­est outgo go up if you’ve taken a con­struc­tion-linked pay­ment plan.

THINKSTOCK

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.