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Buying Residential Property in Delhi-NCR? Watch out For These 5 Factors

Whether you are buying property for the first time or savvy real estate investor, property buying is an arduous task which consumes a lot of time.  Moreover, Delhi-NCR property market has huge unsold inventory, therefore every builder is making significant efforts to offer the best deals to price-sensitive customers. In such a situation where demand is low and supply is more, it becomes prudent for prospective buyers to follow watchful attitude while buying any property. Let’s take quick look over factors to weigh while buying any residential property in Delhi-NCR.

•    Budget – In Delhi-NCR, every kind of property is avaialble – from affordable to premium. Thus, before house hunting, it is important for buyers to decide its budget and look for residential property in Delhi-NCR which fall in decided price band.

•    Location- Once budget decided, location is second most important factor. Delhi-NCR encompasses Gurgaon, Noida, Greater Noida West, etc. The price of residential property from one location to another varies greatly. For instance, in Greater Noida West premium residential properties of Godrej Group are easily available in the budget of 70-80 Lakhs whereas in the same budget Gurgaon offers affordable housing property. Deciding budget and location in advance helps in shortlisting properties in much easier manner.

•    Property’s Size – Depending upon your family requirements, determine the size of the property. For instance, if you are interested in buying 2 BHK apartment in Gurgaon, the property size varies from 1050 sq.ft to 1300 sq.ft and 3BHK apartment size goes upto 2000 sq.ft. Once you are sure about which size to buy, look for carpet areas (area enclosed within walls) of the properties. Most of the builders mention super built-up areas in marketing collaterals which include staircase, common area, etc. Thus, if you require 1300 sq.ft living area, eye for those properties which have super built-up area of approx. 1500 sq.ft.

•    Builder’s Reputation – It is the need of the hour to buy the residential properties of reputed builders in Delhi-NCR. It is because the market is over-flooded with residential property and many new players are offering attractive deals without obtaining necessary approval and licenses. However, such chances subside when buyers park money with residential properties of reputed builders like Ace Group, Godrej Group, etc. Another advantage of parking money with reputed builders is they always deliver the project on time. Thus, those people who are living in rented house and have taken home loan, their burden lessens when they get delivery of their apartments on time.

•    Banks Financing the Project – It is a known fact that there is no dearth of unsold inventory in the Delhi-NCR market and many projects are stalled due to lack of funds. It is because of this reason not all residential projects are financed by the bank. So, before finalizing any property, check out the banks which are funding the project.

So, if you are looking for any residential property in Noida and Gurgaon and unable to shortlist any one, take the expert guidance from Investoxpert’s professionals. The leading real estate consultants in Noida offer unbiased guidance to property buyers suiting to their requirements and budget.