Planning To Buy a Property at Wave City Center Noida? Know the Convolutions of Buying House
Thursday, May 29, 2014
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.
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