There are times when everyone dreams about their new and bigger house, especially most of the Indian people dream to have a house of their own in the heart of India, Delhi. But is it that easy to find your dream home? There are so many things to be kept in mind while doing the same, which is why, here in this article, we’ve jot down a few important tips to be kept in mind while buying property in Delhi:
Property is a long term investment, and it might be your final property, you never know. Which is why, you would definitely want it to be the best. So, think in the terms of needs and budget. And if you’re finding any difficulty in it, then sit down with your family and have a discussion about each individual’s needs and demands. And then on the basis of the discussion, decide whether your budget will be able to meet those demands or not.
- GOOD RESALE VALUE
If, in future, you want to sell your property, obviously you would want it to be sold in a good amount (at least double than what you spent in it). So, always buy commercial & residential property in Delhi which you believe will have a good resale value in the future. Because if by chance, you choose a property which has less value than what you spent in it, you don’t want to regret later, right?
This can also be a part of Good Resale Value, because every different location has it’s own value and if you choose to buy property in Delhi’s posh locations, then it can be a very positive point for you in long term. Some of the posh locations of Delhi are Greater Kailash, New Friends Colony, Sunder Nagar, Vasant Vihar, etc.
- RENTAL RATES
If you are planning to buy residential properties in Delhi for the purpose of renting it, gaining some knowledge about the rental rates helps you decide the location and right property.
- ADDITIONAL COSTS
If you think that your investment ends in just buying the property, then you are wrong. You need to get help from professional real estate agents and confirm if you’re missing out in anything. Fees of such services should also be considered. Many small important things like car parking and all should be clear before.
- NEIGHBORHOOD AMENITIES
There are certain basic amenities to be considered while searching for a new home, for example, banks, hospitals, schools, parks, shopping centres, restaurants, etc. These might not sound that important but actually are! Once you start facing difficulties, then you realize it, and you don’t want to regret later, isn’t it?
- WATER SUPPLY & SEWAGE SYSTEMS
There are areas that face water supply and sewage system problems on a daily basis that can be a very big issue going forward. So, before investing, make sure you get good quality drinking water every time and the civic body provides good sewage systems.
- TAX PLANNING
Tax Planning, a lawful exercise, to be always prioritised. Tax benefits can be claimed as per the Income Tax Act. So, know about your tax benefits and home loan available on it.
Delhi traffic is a very big issue, which is why always consider a location where there is no major traffic even at peak times, check the amount of passing traffic and the noise at peak hours.
We hope these are some of the top priority tips to be kept in mind while buying the property in Delhi. Always consider these tips and we’re sure they’ll help you a lot in the future.