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This is good time to buy a home – and the NCR region is throwing up great offers. Check out what fits your pocket

Is it the right time to buy property? Well, it’s almost a chicken-and-egg kind of question. Look around you and you will find that the economy is growing, bookings are on the rise and there is reasonable demand. Real estate is certainly looking up. That’s not all – the residential supply is humungous in the present scenario and the rate of interest benign – almost the same as last year. The buyer has everything going in his favour. So, what is it that you most consider while making that all-important purchase?

If you are looking at buying property, ask yourself whether you must buy or do you merely have a need to do so. Once you’ve decided that a purchase is necessary, you need to decide on your budget. What will suit you pocket? In today’s market even Rs 30 lakh and Rs 40 lakh houses are considered affordable. Those looking for homes in this budget should scout as NH24, NH58, new sectors in Gurgaon, projects along the Noida-Greater Noida expressway and Noida Extension.

The first and foremost point to note before zeroing in on the location is its distance from your workplace. You should also take into account the infrastructure drivers in that area- highway, Metro connectivity, commercial and retail development. Once that is decided, look for projects in that area, which suit your pocket. Do a thorough validation of the project and check the credentials of the developer. Real estate experts point out that now is the right time to buy property because interest rates are benign and there is a lot of choice available in the above-mentioned price bracket. “It’s a fantastic time right now to buy property but you’ll be disappointed if you are expecting multiple gains. This is not the same for fantastic appreciation,” says Priyankar Bhikshu, head of consulting and research, India DTZ, international Property Advisors.

Make sure you do a back-ground check of the developer, his credentials and the projects that he may have delivered, points out Santosh Kumar, CEO, operations, Jones Lang LaSalle Meghraj. Your choice should be largely dependent on location and whether or not there is a vibrant economy around that region, says Ajit Krishan, Partner, real estate, Ernst & Young

Check out the size of the apartment. For a Rs 20 lakh apartment, the size should ideally be anything between 12010 sq ft to 1500 sq ft super area. For a Rs 30 lakh apartment the size should be 1500 sq ft and for a Rs 40 lakh house it should be 1600 sq ft to 1700 sq ft. however, all these sizes are location specific. You could end up getting bigger apartments in extended suburban locations.

Last but not least, be wary of those trying to propagate schemes. Buying a house is not like buying a television set or a refrigerator – it is a serious million-dollar decision.

Courtesy by: ht estates     Dtd June 25, 2010

For more information about real estate, real estate india, Indian real estate, property, property in india, Indian property, property for rent, rented property, apartment for rent, rented apartment, flats for rent, rented flats in delhi, property for sale in delhi, apartments for sale in delhi, flats for sale in delhi  homes for sale in noida, flats for sale in noida, real estate in noida, investment option in noida, real estate consultant in noida, realty firm houses in noida, residence in noida, residence in delhi, residence in gurgaon, flats for rent in gurgaon Log in to http://www.zameen-zaidad.com/ And http://www.propertycafeteria.com

 

About the Author

Hi I am sapna. Iam working  in(Bhardwaj Buildtech Pvt Ltd) Company in Delh To Visit for more information http://www.zameen-zaidad.com & http://www.propertycafeteria.com/main.aspx

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