Helpful tips to rent a house or apartment in metros

Housing a property in metro cities in itself is a great deal and having a spare property means a supplement in the incomes. A good home is a substantial need for a human being. The lifestyle in metro cities involves rush and chaos, yet it fulfills the dreams of many. So, living in a good house adds to the luxuries. Finding a home that suits your needs is somewhat troublesome. If you wish to buy/ rent a house or apartments in Moshi, the following tips can guide you in many ways.

flats in moshi

Paperwork

Be ready with all your paperwork, the identities, and claims. It would reduce the burden during the shifting.

Location

Generally, the price of the house depends on its location. In the metro cities, where people work on the hands of the clock, where time plays a major role and where convenience is everything, you must be sure that the location of the property arouses multiple interests in people. You can rent a house that is probably near the metro station, airport, a shopping center, a shopping mall, hospital, petrol pump etcetera. For bachelors and students, the prime location could be near malls and gathering points. Whereas families prefer residential areas. The properties in industrial areas seem to be costlier. For example, the properties on Moshi, Bengaluru are costlier for the competence of location.

Set your budget

Getting to adore the luxury of a fine home in metro cities is something very expensive. So before you start, set your budget of the month including house rent, security, electricity, water, and other charges. This would enable you to cut down locations and then you can start ticking off the hit list.

Prefer a consultant

If you do not know about the place, you better prefer a consultant. For example, if you are searching for flats in Moshi Pune, consult a local agent or go online.  He would have more knowledge about the locations and houses for rent according to your budget. He can provide you with better choices. You would be exempted from the pain of visiting many locations, searching localities and get exhausted. He would do your part. All you have to do is give your consent to what he selects. You just have to visit once and shift with your belongings.

Examine maintenance facilities

See a place where you enjoy what you pay. The maintenance facilities like free parking, water (optional), cleaning, security etcetera should be taken into account, for they contribute to your luxurious lifestyle.

Talk to your landlord

When you select a house, you must speak to its landlord. He is the one who can overview you about the house, rules, nearby restaurants, shopping malls, laundry, grocery, plumber, water service and all the day-to-day needs.

Keep a check on your security deposit

The security money you deposit to the landlord should be maintained until the end. The security deposit for houses in metro cities contributes a major amount to your rent. It is a figure you wouldn’t want to lose because it costs you a great deal.

Therefore, choose your house wisely and make the living in metro cities worth experiencing,    remembering and enjoyable.

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How to register your property in Bangalore

Investment in property requires a cautious approach. An important part of the procedure to follow (while buying a property) is its registration. It is good to be aware of the registration process in great detail and accuracy.

For example, if you are investing in new projects in Koramangala, it is the Department of Stamps & Registration of the Karnataka Government, which will handle the complete document registration process. The same authority will issue you the certificate of registration too.

new-projects-koramangala

We discuss steps to be followed focusing on factors like when, why, how, and a checklist required for registration of the property.

When should you apply for registration of the property?

At the time of transfer of ownership of an immovable property, you need to apply for registering the property documents with the concerned authority. The scope of transfer of ownership rights includes gift deed of immovable property, lease, transfer of property in consideration, besides buying and selling contract of the property. In other words, if you are investing in one of the existing projects in Koramangala, you will need to register the document.

Is there a time limit for registering the property? 

Why you need to register the property is for legal validation in owner’s name. Therefore, it is important to register the documents immediately, so that you are the legally recognised owner of the property at the earliest.

koramangala

Officially, you have a window of four months from the date when you sign the property papers. You have an option to register it after four months too, but with a penalty. The penalty amount is hefty, more than 10 times the registration fee to be paid. However, this extension window (of another four months) is subject to permission of the District Registrar. After eight months there is no further scope.

Procedure for registering the property

You are required to publish the exact value of the property on a stamp paper. You can buy it from licensed stamp vendor shops. Make sure the paper carries details of the vendor like address, signature, along with a treasury seal.

You can apply for registration in the sub-registrar office in the district location of the property purchased.

Charges while filing for property registration 

You need to pay the stamp duty at time of registration. There is also a registration fee attached. The usual rate of stamp duty is 5% of the total value of the property plus taxes. Registration fee is 1%. 

Checklist 

You need to have the following documents in order for verification purposes:

  • Original property papers
  • Building plan approval
  • Proof of seller acquisition of the property
  • Encumbrance certificate of the property
  • Proof of no litigation on the property
  • NOC from revenue offices and municipal authorities
  • Proof of validation of the property as per Public Policy under section 22 A of the registration act of 1908
  • Proof of government permission on land on which the property is constructed

If you want to know more about new projects in Koramangala just visit property.sulekha.com