What should you know before buying a flat in new town kolkata?
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1. Location & Infrastructure
Before buying a flat, you should check its location properly. Generally, the location of your flat should be wellconnected with the center of the city. There should have many infrastructural facilities such as schools, hospitals, markets, and restaurants. Then you should consider the connectivity mode - metro, bus, and local train as well as the distance from railway terminals and airport.
2. Pricing of the Flat Usually, the builder sells a project at Basic Selling Price (BSP). They separately state additional fees such as club membership fees, location preferential premiums, power backup fees, security, Wi-Fi, parking, and society maintenance costs. Generally, expenses acquired by the property buyer are registration, stamp duty, and maintenance fees per square foot. Some developers, but, may incur maintenance costs up to a year in advance. In some plans, pricing may vary depending on the specifications and features offered. The
3. Carpet Area of the Flat
Typically, a property’s area or the super built-up area that is listed is the entire area including elevator space, stairs, the thickness of walls, and others. But, the carpet area within the flat walls is the actual area. This area is maybe 30 % less than the area used to calculate the value of the built-up area or property. So, it is advisable to always check the actual carpet area enclosed within the walls.
4. Amenities the Project Offers Before buying a flat in Newtown, the facilities offered by the project should be carefully considered. Many new projects are providing better home automation and security systems, comfortable clubs, Wi-Fi, health clubs, meditation centers, ATMs, shopping centers, banquet halls, restaurants, and skywalks. Another point many buyers value is the apartments it provides. An apartment with a view of the central greens or swimming pool is often preferred.
5. Legal Check of Property
Ensure that the flat is legally authorized to be built on the plot on which it stands. The developer should have approval and NOC from the Area Development Authority, Water Supply and Sewage Board, Electricity Board, and Municipal Corporation. But, if you are taking a home loan, the bank concerned will validate your property documents before approving the loan.
6. Possession of the Flat
This has become the trend of the delayed property of flats due to delays in commercial and residential schemes. As a buyer, you must have a clear estimate of the timeline for possession. Usually, a developer asks for a six-month grace period, although there must be a valid explanation for the same.
7. Financing Banks
You should know about banks that are ready to finance some builders or not. Due to a poor status, some banks do not loan to some builders. So, you must check with the banks that are filling in to fund the project you plan to invest in.
8. Builder-Buyer Agreement
When you choose a flat or house of your choice, you can book the same by paying a token amount, in return for which you get an allotment letter. Then, a three-party agreement is made between the buyer, the bank, and the builder for the balance. The agreement must be read and understood in detail before signing. All clauses must be clearly understood and raised, if there is any doubt, on this point.
Buying a home is one of the biggest steps in your life, although you should remember each of these points before closing the deal. If you are planning to buy a new flat then I will suggest Vishwakarma Properties. They’re one of the most trusted brands among Real Estate Developers in Kolkata. They are having 14+ years of experience in the real estate industry. They are in the construction domain since the year 2006 and have since been creating ventures in Kolkata. Vishwakarma Properties is having 2 residential apartment ongoing projects in New Town Kolkata. 1. BE 100 (Located in New Town in Sector 5, Kolkata) 2. AC 93/7 (Located in New Town in Sector 5, Kolkata) They’re developing a property where you can enjoy the privacy and independence of premium apartment living and yet get to socialize with like minded neighbours when you are in the mood for it. These apartments are 4 side open which offer a panoramic view of the vibrant city and also open various avenues of