Property Buyers Guide

If you have decided to buy an apartment in Udupi, for investment or for own use. It’s the biggest investment decision of your life and will take up most of your savings. Therefore, it becomes all the more important to make sure your investment is safe. It would be a good idea to check up on the quality of construction visit completed projects before you go in for a particular project. You need to check up on the reputation of the builders.

Define your requirement?

This is the first and important criteria you need to consider before buying an apartment. Requirement of home buyers differ from one buyer to another depending on their lifestyle, family size, preference, usage etc. Defining your preference or requirement helps to save time on unyielding and time consuming visits to inappropriate properties.

How do you evaluate the property?

To judge the value of property, it is based on information of recent sales or purchases of similar properties in that area as well as other factors like type of property, construction quality, location, the local infrastructure available, transport facility are all taken into consideration before the market value is decided.

How to decide stamp duty value?

The price that a property can command in the open market is known as its market value. Stamp duty is based on the market value or the agreement value of the property, whichever is greater.

What constitutes conclusion of the sale?

An deed of sale, with actual possession of the property would be considered as a conclusion of the sale. Usually, the entire amount is paid at the time of handing over possession.

What is the difference between carpet area, built-up and super built-up area?

Carpet area : It is the actual usable area of an apartment minus wall thickness. Carpet area is the area enclosed within the walls, actual area to lay the carpet. This area does not include the thickness of the inner walls.

Built-up area : It is the carpet area plus the thickness of outer walls and the balcony.

Super built-up area :It is the built up area plus proportionate area of common areas such as the lobby, lifts shaft, stairs, etc. The plinth area along with a share of all common areas proportionately divided amongst all unit owners makes up the super built-up area.

Documents to be checked before purchasing property?

Before purchasing a property, there are a number of enquiries that need to be done to confirm that the land has a clear and marketable title. The following documents to be checked.

  1. Land Ownership Documents.
  2. Conversion Certificate.
  3. Encumberance Certificate.
  4. RTC
  5. Single Site Approval
  6. Building License.
  7. Approved Drawings
  8. Deed of declaration
  9. Bank pre-approval letter.
  10. Fire NOC (if applicable)

Compare home loan offers provided by different banks?

Go to the different institutions providing housing loans and ask them to calculate and give you the “net” amount of money you will have to pay over 10-Yrs and the “net” amount of money you will have to pay over 20-Yrs. When we say “net” we mean that the money includes everything, the administration, processing and all other possible fees. Note all the different rates that all the different organizations give. This will give you the best idea about the different rates.

Reach Us

Khain Properties
2nd floor, Devraj Towers
Court Road, Udupi - 576 101
Karnataka, India

E-mail: admin@khainproperties.com
Phone:+91 888 050 5855
             +91 924 330 5855

builders in udupi
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