A COMPLETE GUIDE FOR BUYING APARTMENTS IN CHENNAI – II
In continuation to the A COMPLETE GUIDE FOR BUYING APARTMENTS IN CHENNAI – I
Let’s move on to the next two important aspects of buying an apartment in Chennai:
- Procedure for buying
STEP-BY-STEP PROCEDURE TO BUY AN APARTMENT IN CHENNAI:
Every day, we get bombarded with a lot of advertisements regarding the sale of apartments in Chennai. However, buying a house in Chennai is not that easy! It is a unanimous observation that Chennai real estate is a little unorganised and rugged. Here we present to you a simple procedure that can take you through the expedition of buying flats in Chennai at ease:
Decide what you need:
For any homebuyer, just a roof over the head is no longer going to suffice. And that is why the Chennai real estate builders of today are coming up with a basket of facilities and amenities that can make your life more comfortable and convincing. For instance, the Korattur Apartments – Pavani North star, offers a bundle of amenities with a stellar clubhouse at just 70 lakhs onwards. So first get a list of all that you need. The amenities, the kind of neighbourhood, connectivity features, size of the home, specifications and the like. For instance, if you are looking out for apartments near Chennai Central Railway Station then Pavani North Star is the best choice. Likewise, jot down what you actually need for a comfortable lifestyle!
Get ready with numbers:
Budgeting! Deferred payment options are always welcomed in Chennai. But a token amount is usually required to be paid upfront to book the house in your name. The down payment percentage differs according to the locations in Chennai. But it is best to save up at least 20% of the total sum. In the case of a home loan, check your credit score, to avoid surprises in the future. One thing to be noted is that when buying flats in Chennai remember that the price quoted will be the basic cost, exclusive of other fees for development, GST, location preference, parking, etc. These terms and conditions also vary. But always keep a buffer to accommodate these additional inevitable charges too.
Find a reputable builder:
This is a very crucial step. Using the online & offline sources mentioned in the previous blog, make sure that you get hold of the right builder. The credibility of the builder will make the entire journey of home buying very easy. Keep your eyes on three things:
- Transparency of the information shared by the builder
- Authenticity established
- Quality of work
Remember that only reputed builders will be able to give you quality homes at lower prices without compromising the lifestyle that you expect. That is how Pavani North Star apartments being just 2 mins away from Anna Nagar are made available at 50% price per sq. feet (of Anna Nagar). It’s true!
Take site visits:
Nowadays every top real estate company in Chennai is coming up with free physical site visit options for the buyers. Take a visit to the site and see if everything is as per your expectations. Cross check with the connectivity options assured, infrastructure available, neighbourhood, potential growth and proximity to malls, supermarkets and other important stuff for a happy living. Giant real estate companies like the Pavani group, do offer technological solutions like VR (Virtual Reality) aided walkthroughs for the convenience of the target buyers. That’s right, sitting at home you can visit your dream home!
Before buying a flat in Chennai, make sure that you check into the following basic legal documents well in advance:
- Sales Deed: This document acts as proof of sale between the buyer and seller.
- Certificate of Commencement: An official go-ahead given by the local municipal authority to the developer to commence construction.
- Residential Zone: At last, make sure that the flat you are buying comes under the residential zone. Check for a Land Use Certificate when your eyes get caught by new apartments in Chennai for sale.
- Others: Joint development Agreement, No objection certificate.
The rental value of properties in Chennai is really impressive. According to the ease of living index, 2021, Chennai stands third, next to Delhi & Mumbai. The transportation in the capital city is really affordable. It is comparatively a peaceful city to have a secure and serene living. So, if you are on the lookout to expand your business or tap into employment opportunities then Chennai is the right choice to get settled with your dream home. The rate of development and thereby the prices for apartments are expected to rise very soon. Therefore, the right time for buying properties in Chennai is right now! Why Wait?
Let’s get started: