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Tips to remember before investing in under-construction property

Posted on Aug 20, 2015 by Admin
 
Introduction
 
There is no doubt every person in this world from any level always want to buy a home, always dream for a home which they can proudly says this is my home. but due to some lake of resources like time, proper guidance and most important money, he is unable to buy a home. now a days real estate market is at peak point, if you are not eligible for down payment or any big amount investment for that case there is a new scheme in the market that is you can apply for a under construction projects only with a start up amount investment.

Now a days under-construction property attracts people too much because they charge less amount as compare to complete construction properties.

But remember investing in under construction property may have a lot of risks regarding possession. Therefore when you are going to buy a under construction property do full analysis of that builder and property, here are some tips to investigate before investment.

1. First of all you should be ensure about the ownership of the building. You have to check the person or builder who is offering the project is the legal owner of the building or just a care taker.

2. Some money minded dealers or developers collect the amount in their personal account without entering into registered agreement. so it is one of the important thing to remember before payment of booking amount and ask for the payment slip for the all installments.

3. some time most of the investors avail a house loan. If you are ready to invest in under construction property then you need to ensure that the project is approved by bank or not. if you got any type of issues then you have to change your plan and reject that project with out any if and but.

4. You have to be ensure about that there should not be any any legal issues which may causes delay in possession.

Hence, buying a own home need a full awareness, because you never know what will be in next. Investing in under-construction project have both positive and negative phases, you will move in which phase is all depends on your sense of awareness.

Under-construction projects are cheaper, have low EMI's providing high returns where as some time you could got a great fraud. So I always suggest you that do you proper investigation before investment in Real Estate Doesn't matter in which property you are investing.
 
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