FLAVOUR OF THE MONTHand pricing as per the location.
Few terms in House property:
Area is the essential part of house
property:
House is purchased with the
help of area it covers. There are
3 types of area that is
considered in a house property
namely. Carpet Area that is the
area enclosed within the walls,
actual area to lay the
carpet.Built up Area consists of
carpet area plus the thickness
of outer walls and the balcony.
Super Built up Area is the built
up area plus proportionate
area of common areas such as
the lobby, lifts shaft, stairs, etc.
Is location an important element?
Yes, Location plays an
important role when it comes
to house property. The factors
that are considered by the
individual are the status of the
neighborhood, access of water
supply, facilities and amenities,
transportation, market area,
warehouse, health care
facilities, workplace,
infrastructure, etc. of which all
is connected to the location
you choose. Location also
decides the value of your
house, if the area is fulfilling all
the factors the prices could be
higher.
Define your goal/purpose:
Residential
A house that is utilized for
personal use like self-occupied
is termed as residential
property. Usually people
decide that post retirement
they should at least own a
house and have a secured
investment in hand.
Commercial
This goal could be a long term
or short term investment.
Receiving cash inflows in a
fixed period through rent or
utilizing the house for a
business purpose like shop,
workstation, etc. this all comes
under a commercial property.
*based on your preferences
one could go for a residential
or a commercial property or
both.
Documents that one should know
while purchasing a house property:
Documents or papers in a
house property holds the
higher value than the property
itself. It's a proof of its purchase