Real estate is one of the best and most secure investments and is not affected by market sentiments. The property brought from reputed investors in a prime location will always yield positive results. The tangible asset comes with many risks too, and it’s the responsibility of the buyer to look into these possibilities and make risk-free investments.
The Eco-friendly tricks: eco-friendly buildings have become a trend now and the builders have been concerned about nature. Sometimes these claims are false and the buyer is given a small garden and lawns. For being eco-friendly there must be certain building designs, construction, operations, and management criteria.
Circumventing rules: the properties are carried out using a POA, Power Of Attorney rights, the seller passes on the rights to maintain, lease, rent out, mortgage, or even sell the property to the buyer. According to law, these immovable properties have no legal sanctity. These immovable properties can be sold or even moved through registered property deeds. Thus POA can be risky.
Valuation risks: checking if you are paying the right price for the property is important. See it the property reflects the current reality of the market and the price fluctuation of the market. Get the valuations from a qualified professional valuer or compare prices yourself and the features of other similar properties.
RERA-approved projects: these projects are less likely to be affected by the delays. It is suggested to buy a home during the pre-launch phase with prices slashed and the agreement stating, if the builder refuses to deliver the project on time, the amount will be fully refunded and the buyer can cancel anytime.
Avoid title disputes: the lack of clarity means the project is in complication, and the ownership and land transactions are risky. Always trace past ownerships and avoid disputes in the future. Check if-then seller is authorized to sell the property and the title is clear and if there are any pending dues and taxes. See if the plot is approved by the city development corporation and the local authorities.