Property Search Made Easy
Selecting the right property is a lengthy process. During our searches, we try to visit as many options as possible without doing enough research on it and in many cases we end up losing our precious time. So it is important to maintain a streamlined method of selecting the exact properties we want to visit and help us to take a wise decision.
Basic Parameters needs to be in place
Before we start, we must decide on three most important parameters.
First we have to freeze on the budget that we are planning to spend. For this we need to consider budget for (a) Property including extra charges (b) Registration charges (c) GST and (d) Miscellaneous expenditure.
We must decide on the locations where we prefer to buy the property. It should depend on (a) Communication (proximity to school, college, hospital, market, entertainment hub etc) (b) future development prospects and (c) budget.
Listing out personal preferences like floor height, direction, amenities, vastu , dimensions etc.
Process of Selection
Once basic parameters are in place, we should start our online search.
The best way to search properties online is through portals like Magicbricks, 99acres, Housing etc. Our searches must include first 2 parameters (that is Price and Location) to have maximum options in the search result. Preferably we should not include the third parameter (that is our preferences) at this stage which may shrink the search result drastically. Start to create a wish list of all the properties that we have liked.
Next, get in touch with the advertisers to understand the property. When we discuss about the projects, make sure we discuss the price, location, availability, amenities, specification, extra cost, GST implication etc along with all our preferences (we listed before).
Now it’s time to visit the properties either with a consultants or a person representing developer house. Going with an agent may have few benefits (1) they suggest property without any bias (2) they can offer more options beyond the list (3) they may certainly help us in negotiation and (4) assist selecting the best option available. On the other hand we can opt to approach developers for a particular project. It is important that we check profile of the developer or the agent online to get an idea on their reliability.
After the site visit process is over, only few properties would make it to the final list. The decision would depend on close comparison between these projects, family inputs and personal preferences.
We can consider a project more or less safe if the project is approved by (1) HIRA / RERA (Housing Industry Regulatory Authority & Real Estate Regulatory Authority) and (2) Banks (SBI, HDFC, LIC Housing etc). HIRA/RERA approves a project only when all the related documents are submitted from developer end. To check status of any project in West Bengal, please visit https://hira.wb.gov.in/. Please note, stand alone projects having less than 9 flats do not require a HIRA/RERA registration. Beyond, we can always request the developer to provide the legal set of documents and appoint a lawyer to ensure there is no legal ambiguity.
Please feel free to get in touch for any property related clarification. Our website is www.realtyquest.co.in .