Thane Real Estate Market: An overview

Every individual wants to own an apartment in Mumbai. However, the increasing rates of the properties only make it difficult. This is where Thane comes into the picture. Thane is slowly emerging out to be a major residential location, all thanks to several new projects in Thane. This has further risen the investment opportunities for the potential homebuyers and investors.

Thane needs no introduction for it has established itself with apartments at affordable rates possible. Besides. Thane is also a major commercial location. It is home to some of the top companies thus making it easier for the locals. Being a well-known suburban district of Mumbai, Thane is closely location of Kalyan, Navi Mumbai, Bhiwandi, Badlapur and so on. It is a beautiful city in itself. Thane has over the years witnessed a great development as far as real estate is concerned. Widely divided into Western and Eastern halves, Thane serves as a perfect platform for potential investors and homebuyers looking for affordable homes.

Taking advantage of this situation are the builders and developers who offer reasonably priced new residential projects in Thane. With the increasing number of new residential projects, it becomes quite easier for homebuyers to find the right apartment. Though reasonably priced, the apartments offered to come with state-of-the-art and modern amenities. In all, it is a win-win situation for buyers can make the most of the new construction in Thane. Even if you do not wish to shift your base to Thane, you can invest in its properties. You should know, keeping in mind the increasing popularity, the real estate rates are bound to increase than come down.

If you as a buyer looking for advantages to invest in Thane, then you should know, it has amazing connectivity solutions. Located close to the Eastern Highway, it promises smooth connectivity. Besides, there are also a number of other roads such as Mulund-Bridge road, Mumbai Highway and Saket Kalwa Road that lies close to it. Besides, there are BEST buses to solve your transport problems.

Apart from this, Thane is home to some of the top schools, entertainment and shopping centres. All these aspects are what every buyer tends to look into before investing in any location. Besides, there are new and under construction projects in Thane coming up, which also makes finding the right apartment easy and hassle-free.

Make the most of this situation by getting in touch with a reputable developer to find the right apartment that meets your needs.

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4 Tips to Invest in an Under-Construction Project

Buying your dream is not easy as your think it is. Various factors need your attention to make your purchase a great one. You definitely do not want to invest in a property only to later regret on. Buying or investing in any property requires your thorough investigation, from price, real estate market value, your budget, when do you plan to move-in, the neighbourhood and more. The list just goes on and on. While these aspects do play a major role, there is one aspect a lot of buyers are confused on – Whether to invest in under construction property or ready-to-move-in apartments. Well, the choice is completely yours. For people who are planning to invest in under construction projects in Thane and around, here are some tips that might prove fruitful.

No matter whether you plan to invest in an under-construction property or ready possession homes, it is important to be aware of certain traps that often gets neglected. An under-construction property definitely sounds an affordable bargain than ready possession homes. However, there are certain tips and traps you need to be aware of to ensure you make a wise decision:

•    It is the builder you will be purchasing for. Hence, it is important to ensure the builder has clean records. Check out for them for they will give you a brief idea on whether it is wise to invest in the under-construction property the builder is offering. Ensure the builder is trustworthy and has a good image in the market.

•    Ensure you get everything in writing. As a buyer ensure you do not sign anything until everything has been agreed upon, negotiated and written in the contract. If you have decided to invest in an under-construction property, ensure how your apartment will be finished, what will happen in case the construction does not happen on time, or if the deadline is not met and so on. While you ask these questions, ensure you take the answers in writing and is signed by the concerned parties.

•    When you are investing in new residential projects in Thane, and around, it is important that you as a buyer ask for a copy of the construction project’s drawing, floor plan, duly stamped by the authorities. Besides, do not forget to check whether the builder or the real estate company has the ownership of the land where the construction will take place.

•    As a buyer, you can ask for the commencement certificate of the floor, in case the construction is not completed to the floor you have booked your apartment in. For example, if you have booked your apartment on the 15th floor, but the construction is completed only till 10th floor, then you can ask for this certificate.

These are some effective tips that aim at helping you invest in right residential projects in Thane and around.

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4 Tips for Safe Investment on Under Construction Projects

Buying a home is quite a lengthy process. It requires a lot of research, consideration of budget, amenities and more. In short, it is a big step and requires a lot of preparation. When talking about buying a house, a lot of homebuyers tend to get confused between ready-to-move-in the house or under construction. Both of them offers pros and cons. Well, it is under construction properties that attract a lot of homebuyers for end number of reasons. However, you should also know that it is quite a risky affair for there might be a delay in possession and more.

Considering this factor, here are some aspects you need to keep in mind when planning to invest in under construction projects in Thane and around:

1. Bank Approval

When it comes to buying a house, a lot of buyers tend to rely on home loans for the purchase. In such a case, it is of paramount importance to know the project has received approval from the bank. This further makes the whole process of availing and applying for loans easy and hassle-free.

2. Check the Legal Status

You cannot just rely on the under or new construction in Thane and around just because it is reputable. As a potential homebuyer, it is your duty to do a complete background check as far as the legal status of the property is concerned. You can ask the builder for the legal status of the construction, just to be sure. Ensure the ownership of the property. Apart from this, also ask for the legal report on the construction to ensure it is on paper.

3. Payment of Booking Amount

This is one aspect you should not neglect on. Now that you have paid the booking amount ensure you ask for the receipt. There is every possibility the developer is fraud and to avoid misuse of your money, ask for a receipt. Do not forget to ask for an allotment letter which has all the details about the property and the money.

4. Get the Possession Letter

Always remember that the purchased house is not yours unless you get the possession letter. Once the construction of the property is completed, you are advised to ask for a possession letter from the constructor or real estate company.

All these aspects are well taken care of by reliable and reputable real estate companies offering new residential projects in Thane and around. Besides, ask your builder for building plan, commencement certificate, layout duly approved by the authority, development and sale agreement and so on.

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