7 Things You Should Know Before Investing in Under-Construction Projects

Buying your own dream house is surely one of the monumental decisions of your life. It is a symbol of your persistence, worth and quality of life. Your house doesn’t just provide you enormous comfort but also speaks a lot more about you as well. Without a doubt it becomes extremely important to take into consideration all the important factors before buying your house. Ignoring any of  them can land you with some troubles.

With the real estate rates touching sky-high, the under-construction residential projects turn out to be a lucrative option for people like you looking out to purchase premium flats in Yelahanka at affordable rates with easy payment options. They are attractive because of new construction, flexible payment, higher appreciation and huge discounts.

The most important things to keep in mind before investing in under-construction projects are:

  1. Credibility of Real Estate Developer – It is extremely important to research on the financial credibility and expertise of the developer. Since a residential project incurs huge cost and time and many end up in getting delayed, it is critical to ensure that the developer stands true to his promise.
  2. RERA Compliance –Amidst rising complaints against real estate developers, the RERA registration comes to rescue. RERA seeks to ensure a fair and equitable transaction between the buyer and seller. It increases accountability and transparency between the developers and customers. So as a prospective buyer you can now have access to all the details about the project.
  3. Examining Title Deeds – The approval documents by the government, municipal authority and title deeds of the project are often difficult to assess for a common buyer.
    So buyers should always get the deeds of the property and project papers examined by a legal professional before mankind’s final decision.
  4. Physical Visit to the Project Site – Making a few visits to the actual project site to verify the claims of the developer is also important. The facilities, quality of design and progress report should match with the promises made by the developer. Also check the surrounding areas and the accessibility to the important city places.
  5. Suitability of Project Completion Timeline – Residential projects often get delayed due to a variety of reasons like pending approvals, financial crunch and lack of interest by buyers. Due to these reasons developers tend to keep on extending the project completion deadlines. These extensions are the biggest cause of worry for potential buyers. Hence always refer to the completion date as mentioned in RERA approval by the developer because any delay on it imposes strict penalties on the developer.
  1. Progress Report of the Project – Buyers should regularly go and check the construction progress before making a decision. It is advisable to continuously check the development for 2-3 months prior to purchasing the flat. Check whether the developer is meeting his plan obligations regularly.
  2. Home Loan Options and Discount Offers – Since most of the payment obligations by buyers of a premium flat are met through bank loan facilities, it is important to ensure that the major banks provide loan on the project. Banks sanction a home loan only after evaluating the developer credentials and project report.

Don’t ignore this checklist to make sure that you stay away from all the troubles while investing in under-construction projects.
One such superior quality under construction project coming up is Ajmera Florenza in Yelahanka, North Bangalore. Ajmera Florenza is a premium residential project offering 2BHK and 3BHK homes with RERA approval. Ajmera group, the developer of the project is one of the leading developers of India and this project meets all the above mentioned expectations and basic requirements. It surely will give you a joyful and healthy living experience very soon.

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