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Know these 6 important points before buying flat, you will be able to get good deal for less money

Photo:India TV Flat buying

Highlights

  • Charges the broker a commission ranging from 2 to 5 percent
  • Better to approach different brokers
  • The builder always tells the buyer the base rate of the flat

Flat going to buy. Are you familiar with the real estate sector? yes or no If yes, then you will be familiar with the role of builder, property, project, price, location, broker etc. in the realty sector. If there is no or half-incomplete information, then we are giving you some important information. These will help you understand the realty world and choose the right property.

1. Property Selection

Choosing a valid property is very important before buying a property. The role of online portals in legitimate property selection has become very important. Collect property information online. After this, collect information about the connectivity of the project and the builder. Then calculate the carpet area of ​​the flat, facilities available in the project, cost etc. If you do not understand these things yourself, then seek the help of an expert.

2. Under Construction Property

Under construction property builders sell at less than market value. Be very careful before buying an under construction property. The cost of an under construction property is definitely cheaper than a ready to move, but there are many problems associated with it. To avoid this, definitely check the history of the builder. If possible, avoid buying property in an under construction project.

3. Brokerage Fee

If, you have taken the assistance of a property broker in buying the flat, the builder pays a commission of 2 to 5 per cent to the broker in lieu of this. If you are able to negotiate with the broker, you can get additional discount on the value of the property and buy the property at a relatively lower price. It would be better to approach different brokers for cheap property deals. This trick is effective in getting cheap property.

4. Determination of Budget

The builder always tells the buyer the base rate of the flat. Whereas, the builder also levies many extra charges. One should always keep in mind the extra charges before buying a property. The extra charge from the base rate ranges from Rs 300 to Rs 500 per square foot. That is, if there is a property of 1000 square feet, then it will cost Rs 3 to 5 lakh more. Apart from this, money is also spent in registering the property. It is necessary to calculate the extra charges and registry fee before buying a property, otherwise it may cause trouble later due to budget breakdown.

5. Token Money

The builder has to pay token money immediately after the property is liked. This is because the builder should not allot that property in someone else’s name. Token money should be kept ready while starting the property search as it is not decided when which property will be preferred.

6. Down Payment

Builders offer various schemes to the customers for booking the property. There are flexi plans, down payment plans, subvention plans, etc. Depending on the value of the property, 10 to 20 percent of the amount has to be paid as a down payment. Only after depositing the down payment amount, the bank does the loan section on that property.

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