Property Registry is one of the most curious subjects for any buyer. Predominantly, it depends whether you are buying a resale or under construction flat / property. Property Registry is most crucial and a final step of property purchase. Normally, a buyer gets confused because of unique suggestions from builders/lawyers on property registry. In many cases, banks also impose conditions on property registry. Each stakeholder has it's own motive/logic on how to execute property registry. The stamp duty and registration charges play a crucial role in this regard. The prime objective of a buyer ... Read More
Under Construction Property – 7 Important Points
Under Construction Property is most profitable for builders as they charge hefty premium on same compared to prevailing Market Rate. In my post Resale Flat or Under Construction Flat - Which is better? i highlighted pros and cons of both Resale & Under Construction Property. Though i am not concluding either in favor or against under construction property but i would like my readers to take informed decision to avoid future shocks. At the end of the day, its your hard earned money. Before you sign below the dotted line, Please go through following 7 critical points related to Under ... Read More
Possession Linked Payment Plan
In my previous post i discussed Why Under Construction Projects get Delayed? In continuation of same, lets find out how Possession Linked Payment Plan help to reduce the risk of project delay. Currently the most popular payment plan for property purchase is Construction Linked Payment Plan in which certain % of payment is released as the project progress i.e. at every stage of construction. Construction Linked Payment Plan is mutually beneficial for both buyer and the builder. In my opinion, It favor builder as 90% payment is released when super structure is ready. Possession Linked Payment ... Read More
Why Under Construction Projects get Delayed?
The biggest worry of any buyer in Under Construction Project is delay in Possession of flat. Lets take the case of one of my reader Mr. Rupesh Shah from Ahmedabad who sought my advice in this regard. He booked a flat in 2008 from very reputed builder in Ahmedabad. Builder promised possession of flat by 2010, when Mr. Shah was planning to get married with his childhood love. The couple wanted to start their new life in new house. In 2014, the couple is blessed with 2nd child but still they are awaiting possession of their dream house. Mr. Shah's case is not an isolated case but very common ... Read More
Resale Flat or Under Construction Flat – Which is better?
Biggest dilemma while purchasing a flat is whether to buy a Resale Flat or Under Construction Flat. These days a new trend has started, wherein most of the buyers prefer purchasing under construction flats…The reason for this shift is, Perception of buying under construction flat for cheap (Which is actually not the case)…Customer think that price of the property will not fall below Pre-Launch price but fact of the matter is Price is decided by Market Forces based on Supply & Demand…It does not make sense at all if the buyer is purchasing under construction flat by availing Home ... Read More