It can take many years to buy a home. After exhaustive bargaining, when you seal the deal, make sure to go through all the essential documents before signing on the dotted line.
We recomened the different kinds of factors which you should examine carefully before signing a property agreement.
A property agreement is a mutual contract from the buyer between the seller of a piece of property to go ahead with the negotiation deal according to the specified terms and conditions.
The property agreement could either be between the seller and buyer or between the lesser and lessee.
There maybe specific points that may be missed in a hurry, which is why care must be taken to make sure that it is properly understood before it is signed.
Here are the 5 important aspects you need to take consider before you enter into a home purchase agreement with a developer.
A home purchase agreement provides details about the various costs that you will need to bear before you purchase a house. This would involve the cost for utilities like electricity, water, parking space, many other kinds of taxes, and in some cases even charges for registration.
The size of the house will be clearly mentioned in the home purchase agreement. The clause would be stating designs, plans and specifications which are tentative and developer has the right to modify. You may agree for a certain size but the developer may agree for another size.
The agreement includes a tentative date of possession which can get extended.
The builder needs to provide a completion certificate before handing over the house to you. This is issued by municipal authorities and should comply with the building plan. This certificate is needed for the registration of your house and other government formalities. Make sure that you procure this completion certificate before signing on the home purchase agreement.
The area of an apartment or building minus the area of the walls is known as the Carpet Area. This is the area where a carpet can be laid in the house. The built-up area is the area of walls, including the balcony which is calculated with the Carpet Area. The built-up area which includes areas under the common spaces like lobby, lifts, stairs, garden and swimming pool is called Super Built-Up Area.
Carpet area is 15-30 per cent less than super built-up area. The exact size cannot be known until the property has been built.
Bonus Tips : Important points to know before signing a lease agreement.
The lease agreement gives lessers and lesses with a legally enforceable contract and it’s essential that this document has the necessary elements to provide protection to both the renter and landlord. A good lease agreement defends your interests and avoids misunderstandings that could land you in litigation.
Parties to the Lease – the lease agreement should include the names of the landlords and tenants who are bound by the terms in the agreement.
Terms of rent – The rent amount in rupees should be in the agreement as well as due date of the rent, which place should the rent be sent to and how it will be accepted (by draft, check etc). The terms for late rent should also be included in the agreement.
Whether you are buying a property or renting it out, it is imperative to include the terms and conditions in a written document which could be a home purchase agreement or lease agreement will keep the contract between the two parties unambiguous and favourable.
Get the Latest News and Updates Of Indian Real Estate
Read more stories
Well, we are aware that real estate has never exactly been one of those binge-worthy blog categories. It has neither been the kind of topic you could not get enough of, nor is it half as juicy as celebrity gossip.
However, in India, real estate blogs are starting to get clicks and likes, and it has become one of the trending topics. People worldwide are beginning to realize how real estate as an industry affects the economy and how important it is to understand housing trends to enhance their lifestyle.!
The relevance of informative Indian blogs on real estate and finance are at an all-time high now. The youngsters are bidding big on investment options, and brackets such as realty have proved to be highly dependable compared to others.
The Millennials are flooding in to invest in apartments, plots, and villas, and the earliest members of the Gen-Zs' entering the workforce and looking forward to having their own homes. This has only fuelled the growth of digital real estate blogs to keep up with the tech-savvy generations.
Also, the real estate sector has been proving time and again, how reliable an investment choice it is. So, learning about the sector is the smart way to climb up the ranks, and where else can you learn so much except from real estate Blogs! Real estate is the second-largest contributor to the country's GDP; hence there is no doubt that it affects every one of us, whether we see a future in the Real Estate Industry or not. After all, we all live in our homes, and housing is a significant part of the industry.
We know exactly what you need to know and what you like. We know you want to feel engaged and entertained, and at the same time, hot housing news should be fed to you! We have turned the tables, grab a spoon, and start digging!
And Voilà! We present to you the most Interesting and Informative blogs!
As our name implies, we are not limited to realty alone, granted we do Specialize in it. We are all about Homes, and we are in love with Tech and Innovation! Naturally, our blogs cover a myriad of topics related to real estate and housing from Luxury, Lifestyle, Home Decor, Vastu, Real Estate News, Reviews, Tech & much more!
We make every one of our real estate blogs as interesting as it can get and attach with absolutely unique and accurate images, to provide you a better understanding. Not only do we cover a wide range of topics, but we also cover them at the right time. We update you on our socials such as Facebook, Instagram, Linkedin, Pinterest, and Twitter on every trending topic, so you are never miss anything and worry about being left behind!
However, we never go out of hand with our Indian real estate blogs that our beloved Readers have come to love over the years.
Everything in India is a state of constant flux; maybe that's why we Indians became one of the most adaptable and cosmopolitan people in the world!
If the nation's elements are shifting its focus, how can real estate be any different? Indian Real Estate Sector is perhaps one of the most dynamic ones in the entire world. Since the Real Estate in India is yet to be organized entirely, the variations in one segment affect another in ways difficult to comprehend.
The complexity and nuances can be understood only by reading about what is going on in the sector. Like we mentioned above, it affects every one of us. Hence it is essential to keep up to date.
With its ever-changing shifts and tides, it's virtually impossible to keep track of the sector's latest trends and sink our anchor deep. That's where we come in! We are just one google search away!
We also try to solve every home-related query through our Indian real estate blogs. And that's not all. We provide you insights on technologies that make the modern taste and rate of development possible, detailed analysis on real estate projects, insights on loans and taxes, advice on the home buying process, and articles on health and fitness. We provide you information about the trending topics in the Indian real estate industry.
We also host video podcasts named Expert's Voices, where we discuss with the leading players in the industry about market scenarios, offers, anything and everything related to real estate.
In addition, we host Real Estate News so you can stay updated on the sporadic events that happen around the country concerning Indian Real Estate. We also make short and easy to understand real estate video blogs.
We have got so many topics to read about that even if you have years of experience or are just curious and googling to get some ideas about Indian real estate blogs, you will find the best ones here.
At Homes247.in, we strive to provide you only the best real estate blogs. Our blogs are always entertaining; even the dullest subject we touch upon, we try to make it engaging. We make sure the best of the best is are the only standard we keep ourselves at when it comes to our service or our Indian real estate blogs.
Our team is made of a dynamic group of keen hands-on expert researchers who work tirelessly along with passionate and knowledgeable content writers to bring to your fingertips the world of real estate.
On every one of our real estate blogs, we research vigorously, write creatively, carefully compile, and thoughtfully curate the best real estate blogs, especially for you, from India's best content writers and contributors.