There must be a motive behind buying property. Whether you are buying a house for your stay or it is just for investment, it should be clear in your mind. There is a lot of difference between these two. You can take a property in any city for investment but not for living. To earn money, you can also take interest in the commercial space, but investing wisely would be right.
When you buy a property, you should know about who owns it, that is, who owns the title. For this, you should ask for papers. Also, see if there is any case on that building. If confused, consult an expert or lawyer. With the right documentation, your money will be safe because most of the cases of fraud in land or property are due to a lack of firm documents. If you are going to buy a flat, then see if the builder has got the approval to start construction. The builders try to trick this. For this, find out from the departments concerned and if you do not get a satisfactory answer, then resort to the right to information. This will tell you the truth.
Find out if there is any loan taken on the property. If this is the case, you will be responsible for its payment. It will not be easy to know and it may require a lot of hard work. Many builders have lost their investors this way. They take a loan by mortgaging the property and selling it further. Later the investor has to repay that debt.
It is also important to know how people from whom you are buying property. The advantage of buying flats from well-known builders is that there is no possibility of a big mess there. While buying a flat from a builder, definitely see how many houses he has built. This shows his ability. Apart from this, also look at the balance sheet of the company, which shows its financial position. Breathtaking advertisements of property continue to be printed and people also get caught in their deception. Such things are also shown in them which are not actually there. Then spending on many things also does not make sense - if you do not know how to swim or you are not fond of it, then there is no use in paying extra money for a flat in a swimming pool building.
Collect information about the rules and regulations of the property where you are going to buy. Many cities have different laws. Housing societies also have their own rules. In the houses of societies, a copy of their bylaws must be seen, and no. Should be taken.
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