The real estate market in Hyderabad is witnessing a robust growth thanks to booming IT sector and rapid infrastructural development. Investing in Hyderabad’s real estate or anywhere in the country for that matter, is a big decision that involves a huge commitment of funds. Therefore, a decision should be arrived at after factoring in important considerations.
Here is a list of all the things to check before buying a new flat in Hyderabad:
1. Make a budget
This is the first major step before investing in a property in Hyderabad. While a budget would help you determine the extent that you would want to go (in terms of expenditure), some amount of flexibility is recommended as well, to account for unanticipated expenses, if any.
Make a budget after factoring in all the essential commitments and make sure not to stretch your finances. Your property search will depend on your chosen budget.
2. Assess location and facilities
A location that has been on the radar of growth is likely to offer a higher resale value, should you want to sell off the property sometime in future. Check whether the property is flanked by major institutions and has well-rounded connectivity. There are several societies
For instance, Sumadhura Acropolis is set up at proximity to some of the best international schools, healthcare providers, and IT corridor of Hyderabad. Moreover, top-bracket amenities and in-property facilities are expected to pull up property value swiftly, thereby allowing you to cash in on higher resale proceeds.
3. Do background check
This means that you’d need to gather information about builder and his previous track record when it comes to completion of projects and timely delivery. You can begin by tracking completed projects, reading up reviews posted by existing clientele, and even head to property in question to see for yourself.
A thorough background check would give you a fair idea of builder’s repute and whether he always has had kept his track clean by adhering to laid-out standards of construction and complied with necessary documentation as well as legal clauses.
-> Speak to locals
Nobody knows a space better than its locals. You can always ask them about possible problems and advantages of that property in Hyderabad. Their feedback can help you narrow down to the house of your choice.
Prafulla Mishra is an experienced real estate advisor who is well known for his ability to foretell the market trends as well as for his real estate astuteness. He writes on real-estate affairs, Loans, investment, property like Sumadhura Acropolis and many more property, funding etc.