Chennai is one city that is constantly buzzing with activity. With the influx of businesses coming in to the city, the prices for real estate also is increasing. There is a lot of activity in the real estate sector. If you are looking to invest in a home in Anna Nagar or Residential Plots in ECR, here are a few pointers to know:
- Get a good legal person:
While investing in a good area in Chennai, it is important that one gets a good legal team to go through most of the documents. He will be required to go through all the legal documents and ensure that there are no discrepancies.
The authenticity of your documents in Chennai is important as there have been issues with them in the past which have led to contracts being cancelled and money being lost.
- Type of home:
It is important that you get to know the type of home that you are moving into. There are different types of homes that are available in Chennai and they mainly come under ready –to – occupy and pre-launch homes.
The advantage that you will get with a ready-to-occupy home is that you can immediately occupy them while a pre-launch home can help in ensuring that you get better prices. Do your research on the market and figure out the best time to invest in a home.
If you’re purchasing a home or Residential Plots in ECR make sure that you are aware of the scope of location. If you are looking for a long term investment, try to get flats in the outer sectors of OMR or Poonamallee as these are good places to invest in.
Location is important because Chennai is constantly expanding and if you are able to find a good flat now, it will mature for sure over the next few years, allowing you to have a good resale value if required.
- Builder reputation:
It is always safer to go for a tried and tested builder even if it costs a little extra. This is because if you end up putting your faith in a builder who is still not established, there are chances that his project may be cancelled or delayed.
Most of the popular builders like Purvanakara, Sobha or Raheja have a good reputation so don’t hesitate to invest if they have any projects in good areas.
- Features and loans:
Before finally delving into the Chennai real estate, make sure that the complex being built has the exact features as mentioned in their website. Sometimes, builders can scam and not really provide all of the amenities. Also, enquire whether there are home loans available that are affiliated to the builder.
By taking a home loan, you can purchase your home and repay the money within a few years and this allows the process to be so much smoother.