» When is the right time to buy property?

It's entirely a prerogative of the buyer when he/she wants to buy the house. Take in account your objective for buying a home and the market situation and you might be able to determine the right place and the right time to buy a property.

» How do you choose the right property?

There are several things one needs to be careful of while buying a property. First and foremost is the location. Consider whether the neighbourhood has adequate power, water, sewerage facilities, etc. A field survey before you decide on which property to buy can enlighten you about the infrastructure in the area, connectivity and other important aspects.

» What is the market checklist before buying re-sale property?

Locality – Prices are different for different localities. But there are scenarios which cause a rise in prices. The vaastu compliant homes, which have east and south facing come at a higher price than the other properties in the same location. Higher floors in the high-rises in premium localities could also have higher prices. However, you should take into consideration points like infrastructure and convenience before buying the property.
Demand & Supply – Demand and supply in the area is a crucial factor. The higher the demand of the locality, the higher the price.

» What is the best stage in which to buy a property?

Homes which offer ready possession are the best. You might get a better deal on the under-construction properties, but you do not get immediate possession.

» What are the documents to be checked before buying?

» The builder's licences and approvals
» The conveyance of title in favour of the builder
» Sale agreements

» Which taxes are levied on property?

Service Tax, VAT & Stamp Duty are applicable on new properties only.

» What is the process for acquiring a home loan?

Applying for a home loan involves various steps:
Application form » Personal Discussion
» Bank's Field Investigation
» Credit appraisal by the bank and loan sanction
» Offer Letter
» Submission of legal documents & legal check
» Technical/Valuation check
» Valuation
» Registration of property documents
» Signing of agreements and submitting post‐dated cheques
» Disbursement

» What documents are needed while applying for a loan?

A loan application requires you to submit a number of documents such as:
» Identity proof
» Address proof
» Proof of income
» Employment details
» Age proof

» What is the procedure for repayment of the loan, once acquired?

The loan amount is repaid in equated monthly installments (EMI) via cheques drawn out for a certain period. One has to keep paying EMIs until the loan amount is paid in full.
You can arrange for the EMIs to be deducted directly from your salary if your employer has an agreement with the bank, or you can pay via the ECS facility.

» Why is it necessary to obtain an income tax certificate from the bank?

It is mandatory to produce tax certificate in order to claim the tax benefits. The bank will give you an income tax certificate to avail these tax benefits on your loan repayment.

» In terms of investment, is real estate a beneficial and safe option?

A certain amount of risk is involved in all the mediums of investment. However, returns on real estate investment are generally consistent due to the appreciation in the industry, making it a comparatively safer option.

» In terms of investment, are pre-launched properties more beneficial?

There is more risk involved in pre-launched properties, but they come at a lower price. Whereas completed projects command higher price, but are safer in terms of investment.

» What kind of locations ensure good returns on investment?

Good infrastructure, easy connectivity to prime locations like commercial and industrial hubs are the qualities of locations which ensure good returns on investment.