FLAVOUR OF THE MONTHpossession without any
waiting period and you can
inspect the property and there
is no risk of discrepancies,
unlike an under-construction
property. Considering all the
above, if you are going for a
new property and do not
require immediate possession,
then you can consider under-
construction property,
provided it's a reputed builder.
If you are looking for a specific
location & new projects are not
available in the location, then
you can consider resale
property. Generally, resale
properties which are not much
old are preferred i.e. properties
not more than 7-8 years old.
There are some people who
would want to sell their
properties quickly, which can
provide a good opportunity to
bargain for buyers and save
some money. There might not
be a significant difference in
price between a new property
and a resale property, unless
the resale property is very old.
If both are available at the
location you are looking for,
then buying a new property is
better.
3. What factors one considers
while finalizing a property?
Before finalizing a property,
factors such as location,
facilities available in the
ne i g h b o r h o o d a n d
surrounding area, amenities
provided in the building,
builder reputation and history,
quality of construction, layout
of the house, affordability have
to be considered. It is close to
impossible for you to get
satisfied in all the parameters
for zeroing in the house. You
will have to be ready to
compromise on some
parameters. Hence, deciding
the factors which you can
compromise becomes
essential.- Things to keep in mind before
buying the property.
Title, approvals and licences:
Check if the builder has the
right over the property. Check
encumbrance certificate to
verify that the land is free from
all legal dues. Verify land-use
zone from the local body office.
Check if the layout of property
is approved. Do a check about
the builder and the previous
projects delivered by the