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2023-02-14
Home Buying Guide

List Of Documents To Check Before Purchasing A Property In Dahisar

Metropolitan regions have a higher scale of investment when it comes to the real estate industry. A city like Mumbai falls at the top geographic destinations making any property here an expensive transaction. If you are planning to invest in a property in Dahisar, you must ensure that all the paperwork is aptly executed.

Below mentioned is the list of documents that you must have a check done before purchasing a property in Dahisar:

Sales Deed document:

The sales deed document is the proof of ownership of the property that legally makes you the buyer of the property. This is the primary document that begins the procedure from buying the property till you move in. The sales deed has all the terms and conditions about the property mentioned which you should ensure is in place before you sign it.

The CC and OC:

When you look for any flats in Dahisar, you will find out that all the developments have two-step verification until it becomes a legally full proof for you to invest in them. Step 1 is the completion certificate or the CC which is issued by the authorities of the city after they audit the complete construction of the project. Post this comes step 2 which is the Occupancy certificate or the OC which is issued by the government after the project is audited for its eligibility of having residents move in.

EC or Encumbrance Certificate:

Lets consider that you are looking for 3 BHK flats in Dahisar and you have finalized one of them. The process of checking the above documents will validate the project being perfect for you to start living there and for you being the owner of your property. However, real estate is a big fund market and you require to have proof that mentions there are no monetary liabilities on your property. This proof is called Encumbrance Certificate.

MC or Mutation Certificate:

Once you are clear with everything, you also must keep your image clean in the government records of taxation. The mutation certificate is the legal document that signifies that the owner has no legal tax liabilities. This helps you avoid any hassles in the other documentation for getting your property ownership.

The building plan:

The building plan is the document that holds the design to how the project will look after completion. This is the most important document that proves what you have signed up for. There are chances that the developer might change the design midway through the construction and your product might not be what you paid for. To avoid this misconception, you must have a proper building plan.

In conclusion, the list of documents involved in the process of property ownership is long and there are many things involved. Make sure you choose a trustworthy source to grasp the knowledge before you finalize on any property.



Home Buying Guide

Importance of Understanding Property Taxes

Property taxes are taxes laid down by the government to fund essential public services like schools, sanitation, roads, emergency services, etc. The rate of property tax varies for every state and city. It is a vital source of income for the municipality collected by the local government. Understanding property taxes is essential for property owners to manage their properties efficiently and safeguard their investments. This blog helps us understand the importance of property taxes. Financial impact Property tax is paid out monthly and is included in the maintenance bills. It becomes a part of the monthly expenses. While purchasing a property like 3 BHK flats in Dahisar, home buyers and investors should factor in the property tax as an expense. It is important to know the amount paid so that they can plan their financials effectively. By setting aside the amount for property tax they can assess the returns. Impact on affordability The quantum of property tax will affect the affordability of the property. A higher property tax will make owning and maintenance of the property expensive. Investors need to check the property taxes, for the location, like projects in Dahisar East, before purchasing the property. The payout will impact the returns of investments. Impact on the real estate market Markets with higher property tax may discourage investors and buyers from purchasing real estate while lower property tax will be favoured. The property tax becomes an important factor for purchase. Usually, locations with premium properties, like the luxury flats in Dahisar East, have higher property tax compared to those with budget and affordable properties. Compliance and penalties Property owners must understand the laws related to property tax. Late payment and non-payment attract heavy penalties. If the taxes are not paid for a considerable time then high interest is levied resulting in the accumulation of dues. Missing deadlines may force authorities to lien and foreclose the property to retrieve the dues. Investors who rent out their properties must not have any dues. The authorities do not sympathize with those who rent their property but do not pay the taxes on time. Understanding property taxes is an important part of property ownership. It helps you make informed decisions while choosing the property, planning your financial outcomes, and investment strategy. Since property taxes are a major source of income to the local government, it becomes an important contribution to the community we live in. ...
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Home Buying Guide

The Benefits of Homeownership: Financial and Emotional Rewards

Home is like an anchor in your life. it is a place where you belong where your family lives where you can feel yourself where you feel safe and at ease. Owning a home provides numerous benefits be it financial or non-financial. In a surging economy and thriving real estate industry, owning a home can be extremely beneficial. One can choose from options like luxury flats in Dahisar with world-class amenities. Although owning a home is not easy, the benefits it offers outweigh the challenges. Let us look at the financial and emotional rewards. Financial and emotional security Living in a rented home poses many risks financially as well as emotionally. Rising rentals and the risk of being asked to vacate at short notice can be stressful. By owning a home in new projects in Dahisar, one can rest assured that they and their family are firmly rooted and can live a stress-free life. The home can be your little world which you create and recreate as and when you wish. Investment and legacy building It is well known that real estate investment is one of the best means of multiplying wealth today. As one invests in a home the property appreciation promises to give high returns over time. Building a home also leaves a legacy behind for your loved ones serving as a means of pride and ownership. Flats in Dahisar East offer the ideal location and social infrastructure for generations to experience a comfortable lifestyle. Safety and security A home is where one feels safe and secure from the outside world. One thinks of their home as a place to recuperate and energize to face the world every day. It is also a safety net for your hard-earned wealth that cannot be lost. Since buying and selling property is a long process one cannot liquidate their home easily and at short notice. Wealth invested in property is more secure than liquidity. It is easy to get a loan against property on the home that is owned. Property is most preferred by financial institutions as security against loans making the disbursal easier. Smart Investment Property is a tangible asset whose value appreciates over time acting as a hedge against inflation. It is an asset class for long-term investment and helps diversify your financial portfolio from stocks, bonds, and traditional investments like fixed deposits. The importance of owning a home has become more significant after the pandemic as people realize the importance of having financial stability. Owning a property may have many financial benefits but the emotional benefits are greater. It is no surprise that owning a home is everybodys dream. ...
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