Buying a house is not something which one does many times in his life time. Buying any property is a dream for most individuals. However the process or the steps involved is so grueling that most persons end up regretting the decision of buying a house in the first place. However if one has a good knowledge of the requirements to be fulfilled, the journey becomes smooth and hassle free.
What are the intricacies of initiating any property deal? It is not possible for any layman to know each and every rule and requirements for any property deal but still it is worth it to have a basic knowledge of the essentials.
Any property deal must include a process of legal verification to verify the title and the credentials of any said property. The process must also include a systematic property check which must be done meticulously. Check the credentials of the builder and make sure the builder has obtained the requisite permits as well as government sanctions according to the prevailing laws of the land. In case you are buying a land for resale, verify the title of the owner who is selling the property. We, at Wave City Centre take pains to ensure that our esteemed consumers are provided all the documents for their perusal so that they are reassured; their hard earned money is being put to the most profitable use.
It is important to compare the property in terms of its cost and the amenities which are provided by the builder. In this internet age this is not an impossible task and can be done at a click of a button. Also ensure that the location is in close proximity to your place of work. Wave City Center Noida is situated in close proximity to the emerging hub of business and commercial activities. Hence you will be saving on your travelling by way of time as well as money.
The initial deposit must be accompanied with proper documentation and paper work. Do not make payments until a proper contract/agreement is agreed upon and is documented and signed by the builder or the seller who is selling the property. Read and re-read the agreement carefully and in case of doubt, clarify it with the party. Check the terms and conditions of the agreement and if in doubt consult any close friend who has bought a property. At Wave City Center, we give ample time to our esteemed clients to read the offer documents and ensure that each and every clause is understood.
Observe all the laws of the land especially pertaining to payment of stamp duty and registration complaisance. This is very important for getting the right title in your name. It is advisable to consult a Tax Consultant, preferably a chartered accountant to know the intricacies of structuring the finances and Tax implications. Another important thing which will per-empt any future disputes is to get in writing that in case the property is not handed over in the stipulated period there will be no hike in the cost due to inflation and the builder will not levy any additional charges.
In conclusion keep your eyes open for any concealed costs mentioned in the documents while signing the contract. Do not ignore the fine print and make sure that there are no unknown surprises which have been hidden. The legal terms, the total actual cost of the house is calculated inclusive of the stamp duty as well as the registration charges.