Beds: 4Baths: 2Sq Ft: 1200
Are you considering purchasing a flat in Mohali?
If yes, have you thought which location would be the best?
Well, you might want to consider Mohali. Mohali is one of the most beautiful cities which is located adjacent to Chandigarh in the state of Punjab. It is also a commercial hub and has managed to emerge as one of the most modern cities of Punjab. The city is considered as one of the most happening cities in Chandigarh for investing in properties. The place over-the-years has developed immensely and is now booming with reality developments.
Mohali is known for its beautiful geographical location as well as excellent architecture. It makes the place a great attraction for the investors from all around the country. The city has gradually emerged as one of the most important cities in Northern India and is also advancing as an IT hub of the state of Punjab. The Punjab State Government has also put in continuous effort to make the city one of the best places to reside.
The prices of flats for sale in Mohali have always been on the upwards course, and this shows that investing in real estate in Mohali would undoubtedly prove to be highly profitable in the future. However, there sure are a few factors that you need to consider before you invest in apartments for sale in Mohali. Listed below are a few of them.
Licenses and Approval
Once you have found out the 2 BHK flats for sale in Mohali of your choice, the next step is to verify the builder’s paperwork right from the work’s commencement certificate, approved plans for the property to environmental clearance papers. You might also consider asking for the land title’s status. The other documents that you need to check thoroughly would be the title deed, release certificate, verifying the land-use zone by getting a plan for the plot, approval from the local authorities and the property tax receipts. You can show these papers to an experienced lawyer who would be able to tell if the documents are genuine and if it would be a good decision to invest in it.
Calculating the Total Cost
In most of the cases, the broker wouldn’t tell you about the total cost. They would just let you know about the primary factors which do not include other factors like the preferential location charges, external or internal development fees, club/statutory/ parking charges or even the service tax. All of these factors to escalate the total cost to a large extent. It is, therefore, your responsibility to ask about the final price of the property that you wish to invest.
Considering the Size of the Apartment
You would notice that the builders often mention about the super built-up area in their brochures. This area includes common areas like the stairs, lobby, etc. The carpet is of the flat could be 30 percent lesser as compared to the super built-up area. For instance, when you invest in a 3 BHK flat for sale in Mohali of say 1500 square feet, the flat would just be about 1200-1250 sq feet. It is therefore wise to always go by the carpet area which is the area enclosed by the walls. You first need to analyse your requirement. You might choose not to live there right now, but maybe after a few years. So, you would need to see how much area you are going to need to construct the house of your dreams. Hero Homes Sector 88 is also providing Premium flats at reasonable prices.
Checking the Site and Infrastructure Plan
Any big infrastructure development plan or plan for metro connectivity shortly linked to the property’s location that you intend to invest it can tend to be beneficial. It can boost the return on investment in a great way. However, do make sure that the property isn’t near to any pollution industry. The reality can be far different from what the broker might have told you. Therefore, it is a good idea to visit the site before you make a booking for the apartments for sale in Mohali. Interacting with the neighborhood people would also give you a fair idea of the condition of the place and if there are any legal disputes associated with the property.
The Condition of Real Estate Market
When you do decide to invest in flats for sale in Mohali, it is a good idea to keep track of the property prices in your area. It would give you a fair idea of the market’s condition and if the prices have gone up or down. Once you have decided as to where you want to live, you could check the housing prices in that area. If you feel that the prices have down and your finances are in a stable position, then you could go ahead and book the property. However, if the prices are high, you may want to be patient and wait for the prices to come down again.
Your Credit Score
It is the credit score that would determine the interest rate that you would get on your mortgage in case it does get approved by a financial institution. Just a few points or down can have a huge impact on your interest rate, and this could at times mean a huge difference in the money that you are to pay over your mortgage’s lifespan. Before you head on to invest in 3 BHK flats for sale in Mohali and apply for a mortgage, it is your responsibility to ensure that your credit score is where you want it to be. In case it isn’t, it is a good idea to talk to your financial adviser about this and works on ways to up your credit score.
Other than following all of the above tips, real estate companies like Stay At CHD understand the requirements of the people and hence let the people decide each and everything.Remember that it is you and only you who can decide the right time to invest in a property. Once you feel that you are ready for it, take the plunge and enjoy the experience of being a homeowner.