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The Developer

Azeagaia Development Private Limited is a prominent Indian real estate firm, promoted by Singapore-based companies through the automatic foreign direct investment route (FDI), having considerable experience and expertise in real estate development market and advisory services across the world. Our area of specialization lies primarily in the development of Residential Townships, Commercial Buildings and Developmental Projects.
info@azeabotanica.com
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Planning to invest in Property this Diwali? These precautions may help you



Planning to invest in Property this Diwali? These precautions may help you

All year long, people in India eagerly wait for this one festival – Diwali- and the time has arrived! 
On this Day, people commemorate the triumph of good over evil and celebrate the power of light over darkness. Apart from the fun & frolic, Diwali also marks a time for new beginnings in life. Many people go for property investment during this festive season as it marks a good omen to buy or invest in things. 
However, with real estate transactions come fraudulent loops. Often, due to negligence behavior or lack of awareness about the pertinent factors in property buying, buyer fall easy prey to frauds. Misleading sellers take the advantage and result in fraudulent transactions. Moreover, lack of knowledge among the buyers about the authorities or laws responsible to take cognizance of real estate frauds also plays role. 
So, if you are planning to buy a property to set up a dream house for your family – it is better to give a look at the precautions before you give it a thumbs up. 

 

Property Title: While buying a house or land, look for clarity in the entitlement of the property. Ensure that the builder/seller has the full ownership of the property. To examine the title deed thoroughly, you can take help of a lawyer. In case of suspicious or huge investment, you can issue public notice in newspapers in respect of the property calling for its claim. This will clear your doubts and you can safely rely on the title deed. Also, make sure the title deed presented to you is registered and original. 

Approvals & Licenses: Every property has its paperwork which is need to be approved and licensed. So, once you finalize the property, make sure to check the paperwork of the property ranging from commencement certificate, release certificate, encumbrance certificate, tax receipts (ensuring no pending bills) and other local body approvals. This way you can be satisfied of the documentation involved before you finally say yes to a property. 


Project Financing: Often the realty companies sit on unsold inventory and have no enough cash to resume their project work, which leads to banks becoming reluctant to finance them. So, after you have checked the validity of property title and other documentation, look out for the banks which are ready to finance the project. After chalking out the link, choose the bank which is offering you the loan at the lowest interest rate. 

Check the Total Cost: When it comes to the cost of the property, do not blindly believe what the broker/builder tells you. Often the brokers misguide regarding the cost by only mentioning the basic cost, excluding other factors like development fees, GST, preferential location charges, and club charges. So, always ask for the inclusive or final cost of the property before buying it. 


Verify the Builder: It is always recommended to do a substantial verification of the broker/builder by putting various queries around its current or past projects on online realty forums and enquiring about him with someone in your trusted friends who has real estate interest/knowledge. This verification will relieve you of any doubt on the builder. 

 

In Hope of Rent: Many times people buy a property with an intention to use the rent out of that property to pay EMIs. However, it is said to be a wrong kind of approach and in fact, can end you up in more trouble. This is because no property guarantees to fulfil your hope of yielding the desired rent to pay off your EMIs. Furthermore, there are chances that you don’t even find a suitable tenant for few months and in those months you get just get stuck. So, before the final call make sure you are clear of your motive to buy a property. 


Visit the Site: In present scenario, most of the people look for a home online, and go through the project website and social media to take a glimpse of the project/property. However, it is advisable to take a tour of the actual site of the project/property and then make the final booking. This is because, at times, what is shown online might differ from the real project/property. 

Property investment is not a child’s play. It requires proper understanding of the significant factors to make a wise decision. So, make sure the next time you pick a property to buy, remember the above mentioned factors. 


Azea Botanica is nearing possession. We have been extra compliant to have all our deliverables approved and authorized in each and every aspect.


Reach out to us and do not miss the opportunity to avail your dream home.