After you have put in a lot of hard work, saving up for your dream apartment, and compiling lists of apartments in Gurgaon, there happen to be quite a few important things that should not escape your notice. You may have located your apartment in a convenient place that is close to amenities like schools, colleges, marketplaces, shopping centers, malls, and so on, but that should not ease you into a sense of contentment. Here are some of the ready mistakes to avoid when you are looking for affordable housing projects in Gurgaon.
1. Insufficient research into the builder reputation and financial clout: While it is easy and convenient to research the builder reputation on a search engine like Google, we advise you to conduct your own offline research with intent. Online research can never beat actual field research where you talk to customers who have invested in earlier projects to get a briefing about the quality of the builder’s projects, as well as how the housing apartments are shaping up after, say, 5-10 years after they have been built. Always buy from a builder who has a good reputation and is experienced with affordable housing in Gurgaon.
2. Dearth of market research and market study: The dynamics of the real estate market keep on fluctuating and changing over time. Hence, before you go and invest the majority of your saved up money into an apartment of your choosing, you have to be aware of whether it is the right time and moment to invest in real estate. You are advised to go online and check out the prices of similar housing units in your locality. Compare their quality with the quality of the apartment that you have selected and wish to buy. Also, you need to conduct research into every little aspect of the affordable housing in Gurgaon which includes information about previous owners, the type of the building, as well as the reputation and history of the builder.
3. RERA norms: It is a fact that according to the norms of K_RERA, those buildings with above 8 apartments and those real estate projects with over 500 sq meters of space have to be registered with the authorities and will not be deemed ready for sale until registration is obtained from K-RERA. And also, not only real estate projects but the brokers of these apartments will have to register with RERA so that the transaction goes through smoothly. Be aware of this rule because it will help you to bypass the fraudulent agents and obtain transparency.
4. Do not rely on real estate agents blindly: When in the market for affordable housing projects in Gurgaon Sector 63, be aware that there are many fraudulent real estate agents all over the block who will not bat an eyelid before handing you a spiked deal. You have to be proactive and conduct your market research very thoroughly before talking to a real estate broker about affordable housing in Gurgaon. In the majority of the cases, the broker will be a seller’s broker and this cannot be in your favor. When you take the advice of a real estate agent, do not rely on them without checking out the facts for yourself.
5. Overlooking documents and paperwork: The most important facet of purchasing a stake in affordable housing projects in Gurgaon, or for that matter any other place, is the documentation and associated paperwork. If you go ahead and ignore the documents and the paperwork there is a very real chance that you will end up bereft of both the property and your hard-earned money. Thus, you have to be super vigilant and scrutinize all the related documents associated with affordable housing in Gurgaon Sector 95.
6. Be careful of car parking allocation: When you acquire the apartment, you will have to choose your car parking at that very same time. The agreement has to be signed by the builder at the same time as the documents for the apartment are. Also, you should obtain the plan for your floor along with the plans for the electricity and the plumbing.
7. Don’t ignore the agreement of sale: When you are looking for affordable housing projects in Gurgaon Sector 68, at the time of sale of the apartment, when you hand over your money and obtain the agreement of sale, scrutinize it with minute attention. This is because once you sign it, you will lose the power to counter anything that is said on it.
Finally, before we end, you are advised to check the carpet area as well as the saleable area and see if it is within limits. Also, keep an eye out for the hidden costs that the builder or the broker might leave out of the discussions. If you take these tips seriously, you will be in a good position to negotiate for the sale of the apartment within affordable housing in Gurgaon.
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