Tips to buy and sell real estate property in India

Any property deal is always something where you need to be cautious. Whether you are buying a property or you are selling the one you need to be careful. Here are some tips for those who are looking at buying a property or selling one in India.

Tips for buying real estate properties in India

• Proper planning of finances: Buying a property is a very important investment. Normally a real estate investor puts in all his savings to buy a property. Therefore, you need to check out your financial status before making the investment. You need to first see if you have any pending liabilities and also check whether your home loan will get approved. You also need to plan out how you will pay your EMI’s and whether you will be able to manage the miscellaneous expenses like stamp duty and registration, parking area charges etc with your current savings.
• Buy property as per your needs: You have to be clear why you need the real estate property in India? If you want it for your family then it is not only important to have a big house but also make sure that all the facilities like school, colleges, hospitals, market etc is in close vicinity. If you are a real estate investor who is investing to get better appreciation in the future then decide on the property accordingly. For investment purpose, you can go in for cheap properties in developing areas which will give you better profits in the future when the area is completely developed.
• The Loan is a crucial factor: Your home loan is a crucial factor. If you are confused between loans with fixed rate of interest and floating rate of interest then remember that always opt for a home loan where the rate of interest will remain constant throughout the term. The CIBIL score factor is crucial for approval of loans. Therefore have a good CIBIL score.
• Thorough searching of properties: Before you finalise a property make sure that you go through all the possible options. You can get in touch with sellers, developers and brokers for buying property. You can also check out properties online on various property portals.

Tips for selling real estate properties in India:

• Proper valuation: The first thing that you need to do while selling a real estate property in India is proper valuation of the property that you intend to sell. You yourself can do this or hire professionals for the same. You can also check with property dealers and check out the current rate in the market.
• Find a buyer: You can place advertisements, list your properties online, check with brokers and find a prospective buyer. If everything goes well and the prospective buyer likes your real estate property then you can complete the remaining formalities.
• Completion of formalities and legalities: When you have found your buyer get a no objection certificate from your building’s managing committee. Then go in for the completion of all the other formalities like registration etc.

While buying or selling properties make use of these simple but useful tips. This will help you in completing the procedure smoothly without any unwanted hassles.