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2023-11-15
Home Buying Guide

5 Attributes To Factor In Before Investing In A Home In Mumbai

The Mumbai real estate market has shown robust growth in the past year and continues to be the biggest in the country. The high reality prices, increase in stamp duty and registration costs, and high rates on housing loans have not deterred the interest of home buyers and investors. A crucial factor for this demand is the rapid city-wide infrastructure development and construction to offer seamless connectivity to every corner of the MMR (Mumbai Metropolitan Region). The big real estate tycoons in Mumbai offer various types of properties, from luxury homes to more affordable ones. The prices of properties can vary depending on their location. South Mumbai has the most expensive properties, and prices decrease as you move north into the suburbs.

The five factors to consider before investing in Mumbai are discussed below.

Budget Planning

Before you start looking for a home, figure out your budget. This will help you narrow down your options based on location, size, and amenities. Consider additional costs like registration and documentation fees. If youre thinking of getting a loan, make sure you and your spouse are eligible for loans with lucrative interest rates and other perks. Proper planning of the finances with details of income vs expenditure on paper will streamline the buying process and make sure you dont face problems with repayment.

Market Research

Home buyers can make informed decisions as all the information is now available online. Online portals provide all the relevant information like pricing, MahaRERA number, date of completion developer profile, flat configurations, project amenities, and floor plans. These details can be used to select properties that fall within the required budget and criterion. Doing market research is essential to know the options and information that are required to make the decision.

Location Matters

The location of your home affects your daily life, including your commute, access to facilities like schools and hospitals, and overall convenience. Although Mumbai is the safest city in India, the locality of the project you choose matters. To experience safety and well-being, the choice of location makes a significant difference. If you want to buy a home at projects in Dahisar East you can be assured of your safety and convenience.

Price and Negotiation

Pricing is a major factor in the buying process and the procedure can be a complicated one. It is imperative to understand the pricing thoroughly and get the tiniest of doubts cleared to avoid any surprises later. Make sure that there are no hidden charges that will crop up at a later stage and disrupt your calculations. Many developers offer lucrative schemes during festive seasons, launch phases, and promotions. Male most of these opportunities to save as much as possible on the final amount. Try your best to negotiate the price as most developers are ready to cut a few corners.

Physical and Legal Inspection

Before making any payments, thoroughly inspect the property. Check for construction quality, and any issues with the structure or interiors, and make sure everything meets your expectations. Also, carefully review legal documents like title deeds, certificates, and approvals to avoid future problems. Other documents like allotment letters, cost sheets, sale agreements, possession letters, and society membership should be studied thoroughly so none of the minute details are missed. Evaluate the available amenities within the project. Both budget and luxury flats in areas like Dahisar offer various facilities such as parking, gardens, recreational zones, and clubhouses. Make sure the project delivers on the promised amenities, considering the needs of you and your family.

Buying a home is a delicate process. It may not be easy to find a home that perfectly fits your budget and desires but keep looking for the option that aligns with most of your checklist for your dream home.



Home Buying Guide

Why N Rose Developers Recommends Buying an Apartment in Dahisar

From its humble beginnings as a remote suburb in north Mumbai, Dahisar has rapidly evolved into a sophisticated and sought-after location for property investment. In a relatively short span, it has caught up with other suburbs, offering a blend of modern amenities and strategic advantages that make it an ideal destination for prospective investors. Lets delve into the compelling reasons why investing in flats in Dahisar East is a wise choice. Connectivity Dahisar boasts excellent connectivity to major parts of Mumbai through road, railway, and an upcoming metro network. The local railway station, positioned after Borivali on the western line, along with the Western Express Highway, positions Dahisar as a key hub. The ongoing metro projects, including Lines 7, 2A, and 2B, promise to enhance Dahisars accessibility to major economic hubs, making it an even more attractive investment. Infrastructure The Dahisar-Mira Road-Bhayander micro market is witnessing a surge in infrastructure development to complement its burgeoning real estate growth. Thoughtfully planned roads, flyovers, and improved public transport have streamlined movement within these areas. Concretization and road widening initiatives have notably improved traffic flow and accessibility within the suburbs. Social Infrastructure A robust social infrastructure is a crucial factor for families choosing a residence. Dahisar offers top-notch educational institutions, hospitals, schools, supermarkets, and shopping malls, making it a self-sufficient locale. Residents no longer need to trek to urban pockets for entertainment, with new projects in Dahisar hosting multiplexes, cafes, restaurants, and recreational centers. Amenities Dahisar has overcome historical challenges like water shortages and power cuts. The residential projects here now boast consistent water supply and uninterrupted power, contributing to a significant improvement in the overall quality of life. Developers are now integrating modern amenities such as swimming pools, clubhouses, gyms, and sports centers, adding value to residential projects. Real Estate Landscape The rapid development has paved the way for numerous residential and commercial projects catering to various budgets, from affordable to premium. Reputed builders in Dahisar are offering a diverse range of properties with world-class amenities. The difference between 3 BHK apartment and 4 BHK apartment in Dahisar can be significant, depending on the project and developer. Dahisar has emerged as an ideal destination for families and working professionals seeking a place to settle down, start a new business, or make astute investments. With its strategic location, robust infrastructure, and a myriad of amenities, Dahisar has transformed from a remote suburb into a thriving real estate hub, promising a bright future for those choosing to be part of its growth story. ...
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Home Buying Guide

Mistakes To Avoid With Home Loan

Anyone who wants to buy a property in Dahisar East knows that the financial capital commands the highest property prices in the country. Most home buyers who want to own a home in Mumbai take a home loan to fulfill their dream. The process of getting a home loan is not an easy one and requires one to be aware of many factors. By following the guidelines discussed below one can make the process smooth and unambiguous. Let us refer to the home loan guide and understand all these one by one. Checking Credit Score The CIBIL score is a credit score that provides information about the buyers ability to repay loans to the lender. It is an important measure used by most loan providers to sanction loans. A borrower must always check their credibility via the CIBIL score before applying for a home loan. This will prevent any hindrances in loan approvals. Doing the research There is a plethora of financial institutions that offer home loans in the market. The fierce competition between them gives the borrower many options to choose from. The borrower must compare the loan offerings before choosing a particular lender. The reputation, schemes, and expert reviews of these lenders can be checked online and through word of mouth on their social networks. The products, tenures, and interest rates need to be studied so that the right product can be chosen. Documentation and Procedure A home loan is a contract between two parties. It involves many legal implications for both parties, especially for the borrower. The borrower agrees to the terms and conditions set by the lender when he signs the documents. Reading and understanding the fine print is a crucial part. Signing the documents unknowingly can result in serious repercussions. The lender may impose unknown terms, conditions, or hidden charges that the borrower is not aware of. All the fine print must be clarified with the lender to avoid future complications. Personal Financial Planning Home loan repayments are made in EMIs (Equated Monthly Instalments). It is important to make calculations and allocate funds for the EMI payout, expenses, and emergency fund from the monthly income. One must choose the right home loan plan that fits the budget. Missing the due dates and late payments lead to large penalty charges. It is always better to choose a home that allows easy repayments. Down Payment Every home loan requires a sizeable portion to be paid as a downpayment. This ensures that the borrower can make future payments on time. It also acts as a security for the home loan and ensures a level of trust with the lender. This sum is usually large, and the borrower should have this amount ready before beginning the process of availing of the loan. Consulting a home loan guide or legal experts before making the decision to buy a home is always prudent. It is better to be safe than sorry. ...
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