Buying Property in India/Mumbai
Buying a home when the odds of the inflation and the property prices are against you and it is even more difficult when you are buying a home in India. There are numerous factors to get acquainted with and hence it may take you a while to absorb all the issues before buying property beginning from First Home Buying, Home Loans, Capital Gains, Stamp Duty, Registration, Current Property Trends etc.
We at www.mumbaipropertyexchange.com try and help you with most of the above, but at the same time we would be of help to you in understanding in a far simpler manner.
Even after you have completed or got experience there is also another simple way of rating your new home when you are confused between the choices. You can use the table below either as a checklist for the selection of your home or to actually compare the relative merits and demerits of various properties you might have already seen or shall be seeing. You can rank each property against the parameters on a scale of 1 to 5 in ascending order of satisfaction. Thus the property with the highest aggregate would serve as a rough indicator for your choice.
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PARAMETERS |
Property 1 |
Property 2 |
Property 3 |
Property 4 |
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Pricing |
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Location Analysis |
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Perception of Neighborhood |
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Proximity to general services (Transport /Market/School/Hospital/ etc) |
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Design of Apartment / Structure |
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layout of the flat/apartment/project |
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Difference between Built up or super built-up to Carpet Area |
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Size of living/dining room |
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Size of bedrooms |
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Size of kitchen |
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Size of toilets/ W.C/ bathroom |
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Cross-ventilation |
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Natural Lighting |
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Storage Spaces / Lofts |
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Amenities like Dry Areas, Provision for Split AC, Balconies etc. |
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Quality of Finishes |
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Paint |
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Flooring |
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Electrical fittings |
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Bathroom, Sanitary & plumbing |
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Door / window fittings |
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Facilities |
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Parking – What types are offered |
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Club House/Spa |
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Swimming Pool |
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Garden |
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Infrastructure |
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Lift or No.of Lifts |
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Back up Generator/Full/Partial |
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Security – Complex/Building |
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Intercom |
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Close circuit video system |
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Water supply frequency / Storage |
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"Landscaping (look & feel of the place within the boundaries of the complex)" |
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Garbage disposal |
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Sewerage |
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Any other Recurring Costs |
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Society Outgoings |
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Monthly building maintenance |
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Society fees |
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Monthly maintenance of Infrastructure / facilities |
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Property Tax |
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TOTAL : |
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Other Aspects which need utmost consideration than rating: |
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Legal / Municipal Aspects |
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Is the property Freehold Or leasehold |
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Clear and Marketable Title |
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Whether approved by Financial Institutions / Banks ? |
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Whether Bank Loan or mortgage permissible ? |
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All municipal taxes paid receipts from Builder/ Seller? |
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Completion / Occupation Certificate Received? |
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Water Connection / Electric Supply Received?
If it is re sale then other factors may also apply |
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Mumbai Property Exchange.com