The capital of Telangana, Hyderabad is known as the IT and Pharma hub of India. Obviously, the real estate market is a mature one in the city with more people interested in buying under-construction projects.
The government authorities are focusing on boosting sustainable and affordable housing segments of the real estate market. Liberal policies, infrastructure development, and the creation of smaller districts are the main reasons for builders and developers in Hyderabad to invest heavily in the sector.
If you are new to the city here are some important tips to consider before you buy a home.
Budget
Set your budget after doing a proper analysis of your finances. If you are taking a loan, consider all the costs involved and budget the EMI payment from your income. You must do long-term and short-term calculations on paper in order to know where exactly you stand. If you are checking flats for sale in Miyapur for example, you need to check if it is within your budget.
Location
You need to check how accessible the location is from your workplace. Does the location of the property have good facilities and social infrastructure? These factors will directly impact the quality of your life when you stay in your new home. The location also plays a major role in determining the costs associated with purchasing the property.
Builder/Developer Reputation
The reputation of the builder is an important factor before short-listing projects. The track record of the builder can be researched online. The past project reviews, customer feedback, and ratings will give a proper picture of their track record.
If it is a new location like Kompally it becomes important to check for the reputation of builders for that area. It’s always safe to select a reputed builder to buy flats in Kompally who has successfully completed many projects.
Legal Documentation
Ownership title, land use permissions, approvals from local authorities and municipalities, and clearances are important documents to know if the project in question is legitimate. If all the paperwork is not in place, then it is better to skip that project.
Amenities and Facilities
The amenities usually determine the cost of the property these days. Check and compare amenities offered by different projects within your budget. The amenities that are useful to you should be prioritized. A swimming pool, clubhouse, gym, and garden are some of the common amenities that are offered.
Safety and Security
It is always best to choose a property within a gated community. It offers security from outsiders and trespassers. In case you have children, it is better to choose a project that has security personnel and CCTV surveillance.