Property in Chennai has seen a spike in process in the past decade which has been many investors buying large parcels of land and properties. With many being new investors in the region it is important to spend some time learning that you should be searching for so as to be sure to make the best investment. Never rush in to purchasing any property and take out adequate time to think about the decision. Below are five points that must be prioritized before investing on any property:
Research on the property and local laws.
In most cases a person will be investing on a property far from his local residence meaning he will have little or no back ground information regarding the property. it is vital you consult a property advisor who will explain some major points linked to the area the property is situated, you don’t need to visit the location you just need to provide them with the locations name and they will have the information written market on the local authority maps and notifications. Once he has given the all clear returned to the property and visit some of the local neighbors to make sure there is not pending disputes linked to the property. Neighbors are a valued source of information since they live in the area and know the history.
Make sure you have the money to pay for the property:
Prices for Property in Chennai are constantly rising so before searching for a property makes sure you have all the money arranged to pay for the property once agreed. If you intend on borrowing to buy the property make sure you have the loan approval before making any property deals. It has been noted that many people will have a certain percentage of the property cost and plan to borrow the remaining. They pay a token to keep a hold on the property only not secure a loan and loose the money they had deposited. Always make sure you have all the money required to pay for the property and also have adequate to pay for the tax and other registration fees during the transfer.
Asses the Age of the Property :
The age of a property plays a major role before buying any property in Chennai, this is because the structure may be old and dilapidated so this bring down the value of the property down to the plot value. You must also consider the costs involve in demolishing a property before reconstructions. Make sure to hire engineers to check the strength of the building so as to help you make a better assessment of its cost.
There are many other aspects which require to be considered before buying any Property in Chennai so you will need to consult many journals and tips linked to purchasing property so as to be able to make the best decision. It is vital you also make sure you consult a local property advisor in Chennai as they will have more knowledge on the best investment to consider.
David Hussen is a unique, professional writer. If you are ever interested to Property in Chennai for Sale, simply go for the jemi.org site and fulfill your dream.