Buying a home is one of the major decisions in life, a dream that you have nurtured since many years. However, before taking a final decision on such an important matter, you will need to judiciously scrutinize many factors associated with the 2 BHK apartment you plan on buying. Here’s a look at these factors:
Budget
Before going shopping for an apartment, you need to have a fixed budget. This will narrow down the list of apartments you want to check out. Aside from the initial lump sum, you need to factor in on the installments you will need to pay on the home loan, as well as other additional charges like home loan processing fee, stamp duty, registration fee, etc.
Location
This is another major factor to consider. Check if there is good infrastructure in the locality as well as easily accessible facilities needed for day-to-day living. This would include hospitals, schools, grocery shops, pharmacy shops, etc.
Land records
The title to the plot on which the apartment stands needs to be clear of all dues and the title deed verified in detail and checked for any encumbrance. Aside from this, the soil and topography of the physical land itself will need to be checked too.
Property papers
There are a number of approvals and NOCs from local authorities that will need to be verified including site and design approval, construction and completion certificates, electricity, water and sewage connections, etc.
Carpet area
Do your homework on terminologies like built-up area, super built-up area and carpet area. The first two refer to your apartment and the common shared areas including lobby, staircase, elevator space, etc. The carpet area refers to the actual floor area of your apartment and is what you will get at the end of the day.
Handover timeline
Carefully read the terms and conditions when it comes to timeline for handing over. Delays in possession dates need to fall within the 6-month grace period allowed. Beyond that, the builder will have to pay the buyer penalty for every additional month.
If you want to buy a 2BHK apartment in Trivandrum, then go with a branded builder to avoid unnecessary pitfalls.
