31Oct
By In new residential projects in Thane

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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18Sep
By In new residential projects in Thane, under construction projects in Thane

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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31Aug
By In new construction in Thane, new projects in thane, under construction projects in Thane

What to Know Before Investing in Under Construction Projects

You will find a lot of homebuying advice is often aimed at people planning to buy a ready-to-move-in apartment. However, what if the buyer wants to invest in an under-construction house or property? How will you know whether the house you are buying meets your needs and preferences? Buying an under-construction house definitely, offers a number of amazing options. It majorly includes flooring options, floor plan, how you want the cabinets in the kitchen to be and so on. However, it also calls for some additional challenges, including knowing how reputable and reliable your builder is. Before you finalise on the new construction in Thane or around, it is wise you do your study on the complex.

Here are some of the major aspects a buyer needs to do when investing or buying an under-construction property:

Check the Builder

The first step towards investing in an under-construction or upcoming apartment or property is knowing how reputable the builder is. Ensure the builder or company you are hiring is in this business for years. To ensure you are hiring a reputable company, read some reviews posted online, or ask around for some feedback. Talking with former clients is a great way to get all the details needed to make an informed decision.

Understand Your Floor Plan

For a person who is buying a house for the first time, it is of paramount importance to understand the floor plan which majorly consists of room sizes. If you are new in this, then do carry a measuring tape. A lot of real estate companies now offer the option of virtual reality technology for under construction projects in Thane and around. This lets you understand and see what will be built.

Get A Home Inspection

A lot of homebuyers often make the mistake of not doing a home inspection before finalising a deal. If you think your new house does not need inspection, then you are wrong. It is wise to get an independent inspection done before you close the deal. A professional home inspector can easily identify the problems, whether minor or major before a builder’s warranty expires.

Choose Square Footage Over Upgrades

Another major aspect one needs to consider when investing in an under construction and new projects in Thane and around is to think about how you plan to spend your limited budget. Say, for example, if you have to choose between the fourth bedroom and granite countertops, you are advised to go for an extra bedroom. The reason for the same is because adding an extra bedroom can get expensive later on. In short, go for square footage over upgrades.

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14Apr
By In 2 BHK flats in Thane, 2.5 BHK flats in Thane

Are you visiting a site? Don’t miss out checking on these

When you are in the process of buying an apartment whose construction is still underway, you should never hurry on the contrary you should take things slowly. Now that you are in the middle of the selection procedure and have zeroed in on a few under construction projects in Thane, Ghatkopar, Chembur, and other areas of Mumbai, these are a few things to keep in mind before the site visit. You have to investigate the property just like a detective; after all, it is an investment decision that involves a lot of money.

1.    Goodwill of the builder and brand

Before you buy the property, it is very crucial to know about the profile of the builder and the brand completely. It would really be helpful to enquire about the past projects of the builder. If you could go and talk to the people, who have purchased flats from the real estate companies you are considering then nothing like it. You always have the option of visiting the site of the builder and check on the completed and the ongoing projects. Word of mouth in such cases is very important. You have to speak to the previous purchasers of apartments from the same builder to get a valid testimony.

2.    Connectivity to your workplace

This is another important feature to pay attention to. The property that you have decided on should not be too far away from your workplace. If that is the case, then more than the required time will be spent in travelling to and fro. It will amount to a huge loss of time. If you do not consider doing anything else other than your office job and if your workplace is far from the flat and it is okay with you, you should at least check for the connectivity options from your apartment to your office location. There should be ample transportation facilities that should be readily available to you to commute easily.

3.    Resale potential of your apartment

When you are buying a 1 or 2 bhk in Thane, Chembur, Andheri, and other areas, you are either looking at staying there personally or making an investment purchase. Whatever the case may be, you should always be sure that when you sell the apartment or look for potential buyers who are on the lookout for a resale apartment, your apartment is sold for a good profit amount. This can be possible if the place where the property is located has chances for development, perhaps a metro line coming up in the vicinity, proximity to the train station and bus depot, and the likes.

These are some of the dynamics you should look into and be sure of when you are visiting an ongoing apartment site. Various real estate companies in Mumbai help you find the right property at the right price, which makes the process a lot easier.

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12Dec
By In 2 BHK flats in Thane

A Buyer’s Guide to Selecting Property in the Under Construction Projects in Thane

It can be quite tempting to buy a house at a price range that is slashed by 20-30 percent. However, one needs to be cautious and smart while buying a house at an under-construction stage. Several property builders have upcoming 1 and 2bhk flats in Thane that are being sold at slashed price ranges. But, there are certain risks involved in this decision that must be considered before investing in a house.

–    Record Checking: While looking for 1or 2bhk flats in Thane it is important that the buyer does a proper record check before deciding to make any kind of payment to the builder. Check if the person you are dealing with has a good reputation in the field of real estate. A trusted name will always be professional and guarantee good quality construction.

–    Documentation: While you keep your documents ready for the final deal, you must also request the seller or developer to produce a Commencement Certificate (CC) and an Intimation of Disapproval (IOD). The IOD mentions all the authorities that have permitted the builder to construct the property like the departments of fire, traffic, environment and the pollution control board. The CC is a proof that the builder can begin constructing the building.

–    Proper Booking: Once you have done a proper background check, you can go ahead with the process of booking your flat. It is also best that you book your flat on one of the levels that has been approved by all the authorities in the IOD. Sometimes, the builders tend to promise their clients that the permission for higher levels is yet to come. Do not be fooled by such baseless statements. Invest only when there is proper documentation about everything that the builder is telling you.

–    Legal Assistance: If you are someone who is not familiar with the terms and laws of real estate, you can also take help of a lawyer or property consultant who specialises in this field. It is always better to take along a person who knows about all the documents and permits required. There are various under construction projects in Thane, Ghatkopar, Kalyan, and other parts of Mumbai. It is always better to get a proper check done before you actually buy the property.

These are the steps that you must keep in mind before buying a flat in under-construction projects in Thane or other parts of Mumbai and its developing outskirts. Be sure of all the documents so that you can make an informed decision.

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12Nov
By In 2 BHK flats in Thane

How To – Plan Out Your Home Loan Repayment

Home loans over the years have gained immense popularity. It has helped a lot of potential homebuyers to buy their dream home or property. It is a feasible option when all the other doors are shut. In short, there is no more room for complaining about not being able to purchase a home due to lack of finances. Well, now that you have taken a home loan for 2 BHK flats in Thane, you know you have to repay it on time and without any delay. Delay in the same only leads to increasing the interest rates. This is where the importance of planning your home loan repayment comes into the picture. If not planned appropriately, home loan repayment can take a huge toll.

An individual can easily reduce the burden of home loan repayment through prepayment, either full or partial, increasing the EMIs or even shifting to another loan. Coming to the topic of how to plan your home loan repayment, mentioned are some tips that might come handy:

Know the Ways for Repayment

You can take advantage if the loan offers the flexibility to increase regular repayments or lump sum repayment without incurring additional charges or fees. Other than this, you can even decrease the burden by making frequent repayments. It can be done either weekly or fortnightly, whichever suits you the best.

flats in thane west

Pay Off the Mortgage Quickly

One of the finest ways to save some finances on loan is by paying off the amount as quickly as you can. You should know the interest rates tends to increase when taking your time to pay off the loan principal. This further leads to higher loan cost overall.

Place Your Home Loan Repayment with The Cycle of Income

Another amazing way you can add when planning our home loan repayment is by aligning the repayment with the income cycle. In simple terms, you can pay the loan amount as and when your salary is credited. So, if you get your salary fortnightly, ensure you make the repayments fortnightly. By doing so, it maximises the amount that is paid against the home loan.

Do Not Lower the Repayment

You are advised not to lower the repayment even if your minimum home loan repayment drops because of a decrease in the interest rates. In fact, you tend to pay off the loan amount much quickly when you maintain your current repayment. This ensures you make your repayments on time, in fact, more than what was discussed.

under construction projects in thane

Deposit Any Spare Cash If You Have

Another great aspect to reduce your burden or to repay the home loan is by paying extra repayments whenever you can. This further helps in reducing the interest cost of the home loan.

These are some of the simple yet useful tips one can consider when planning out your home loan repayment whether for ready to move-in apartment or under construction projects in Thane.

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2Aug
By In 2.5 BHK flats in Thane, 3.5 BHK flats in Thane, Flats in Thane, Indoor amenities

Choosing the Right Bathroom Cabinet Idea for Maximum Storage

A bathroom vanity is not always the most glamorous part of a bathroom remodel, but choosing the right kind of vanity can make or break your bathroom’s design. If your vanity is placed awkwardly, uses poor or mismatched materials or does not have enough storage, the rest of your bathroom will suffer. A cluttered looking bathroom is certainly not something we would wish for. Today, most of the new projects in Thane and the under construction projects in Thane offer spacious and airy bathrooms, that if designed well, could be an advantage to you.

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