Buying a residential property, especially for the first time, is a daunting task. This is because it involves a significant sum of money and documentation. Taking this into account, make sure you go through some checks and filters before making your final decision. Mentioned below are some key factors to keep in mind when buying a residential property.
A good location that has connectivity to essential services provides good quality of life and better resale value of the property. Thus, you should find an apartment that is close to hospitals, schools, commercial hubs, railway stations, airports, and supermarkets. Accessing state and national highways is another plus point to note when buying a residential property.
When buying a residential property, make sure it is authorised by government bodies. For example, the Chennai Metropolitan Development Authority (CMDA) or Real Estate Regulatory Authority authorise realtors to develop residential properties in Chennai. These certifications are provided only to those properties which have gone under checks and do not show any discrepancies.
Through the Pradhan Mantri Awas Yojana scheme, the government has been making constant efforts to encourage people to buy homes. Many different government schemes have brought home loan subsidies for both rural and urban people. Besides this, there are many state-specific schemes that aim to provide subsidies, financial aid, and housing options to people who wish to buy a house.
It is best to choose a residential property that complies with quality checks and government authorisation and has proximity to major parts of the city. You can find easily buy a residential property for sale in Chennai, Pune, Mumbai or any other city by keeping the aforementioned points in mind.