The real estate in Chennai is one of the many industries which have been thriving in the last few years.
Every person dreams of buying a house. It is one of the most important decisions for any individual, as it is a major investment which is usually done for a lifetime. It is not possible to change your home every few years. This is the reason it is important to make this decision wisely to get the right property and good value for money.
The impact of Covid-19 on the residential real estate sector across the country has been immense. The lockdown has affected Chennai, like any other state in the country. However, the residential property business before lockdown was booming in the South Indian state. At this juncture, it will not be too optimistic to expect the sector to boom again post lockdown.
Here’s what you need to ensure to buy the right real estate in Chennai:
List your requirement in a comprehensive way
Get a clear idea of what exactly you need. Setting the requirement and priorities right is very important before getting started. The list must include things like preferred location, total sq.ft area, price range, market situation, etc. It is obviously not possible to meet all the requirements. But, one can certainly get most of them in one property if the price range is relatively bigger.
Ensure complete transparency from both ends
After choosing the property, the most important thing is to go through the legal side of it. With a little research on the builder and the particular property, you will keep yourself in good stead. The seller must have a “No Objection Certificate” and “Property Development Agreement” from all the local and central authorities. You should also abide by all the laws and adhere to the guidelines.
Check the approved plan for under-construction projects
Some buyers are also interested in under-construction projects executed across the hub of real estate in Chennai. One should visit the site and see if the things are going as per plan. You can also check the authorization to arrive at a conclusion. The nearby situation will also give you an indication of the happenings. If you see many properties being developed at a certain location, there is less risk involved.
Top destinations in Chennai
The real estate in Chennai is one of the many industries which have been thriving in the last few years. There are many new localities you can consider to buy your dream home. The apartments in these localities come with countless amenities, making for a good destination to buy a property. There are many other advantages of purchasing a property in these localities which cannot be neglected in the longer run.
So, do consider all these factors before making the deal. It doesn’t matter if you are a buyer or investor, following these measures is necessary to get the best out of your hard earned. Happy home hunting!