Jul 24, 2023

Unlocking Opportunities in NCR's Dynamic Real Estate Market: Key Strategies for home buyers

by Godrej Properties Limited

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Purchasing a home for the first time is a significant undertaking, and with the Delhi NCR real estate market expanding quickly, it can be difficult to know where to begin. Here are some crucial pointers that will help you make the right choice.

Buy a house in a suitable neighbourhood 

The first step in purchasing a new home is to pay great attention to the neighbourhood or location that you are familiar with as it is quite important. Studying the location in which you intend to live is crucial. One should verify the accessibility to facilities and all other major hotspots. You should also do an in-depth search to see whether the residence is in an area that is relatively crime free. In other words, you should verify the area's safety, to ensure that you can provide your family a secure abode. Buying real estate in one of the posh neighbourhoods ensures that every requirement of yours is met. You can read more about those neighbourhoods here (add link to the posh areas in Delhi and Noida here).

Know your builders

A prospective homeowner would never gamble with such a significant transaction in their lives. And it is advised that you keep yourself informed about developers and their real estate operations, stay up-to-date with their new launches, and stay informed of other buyers' reactions, as these things will ultimately help you in the process. Choosing a reputed developer with a rich legacy, like Godrej Properties is key. Godrej Properties, India’s Trusted Real Estate Brand, has signed land deal in Sector 146, Noida. The sector is located near upcoming developments and promises to be a neighbourhood on the rise.

Inspect the home beforehand

The most important phase in the property search process is this one. A thorough inspection will tell a lot about a property, which then simplifies the next steps. Home inspections look at the carpeting, the property's legal status, the construction quality, the amenities and services you'll receive, any hidden fees, etc. You can choose the property by looking through all these factors.

Compare the prices of real estate

Before viewing any properties, homebuyers always have a value in mind. You can select the ideal house based on your needs, way of life, and spending capacity. To determine with certainty whether the builder is providing you with the best price, compare the prices of houses from various builders.

Check the Developer-Buyer Agreement

You can reserve the residence of your choosing by paying a nominal fee. You will then receive an allotment letter, after which you can negotiate a deal with the builder. Buyers ought to read the fine print of the agreement's terms before signing it, so there won't be any questions later on or during the home-buying process.

Hire an agent

Employ an agent who specialises in real estate if you're determined to buy a property and are serious about doing so. A knowledgeable professional will not only plan and accompany you to showings, but will also help you navigate the entire process. 

Enquire about the possession of property

Another crucial aspect is that it has become a pattern for both residential and commercial properties’ possession to get delayed. As a consumer, you should always request a precise estimate of the timeframe for possession from the builder. Developers typically want a six-month time frame, so the consumer should investigate to determine whether the time frame is justifiable.

While these factors might be a part of the basic checklist, buying a house is an extensive process. Don’t forget to do your due diligence and take second or even third opinions from friends, family and experts in the field. It is a decision most of us make once in our lives, so it’s best to err on the side of caution and make a wise, calculated decision

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