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2024-08-12
Home Buying Guide

Tips for First Time Home Buyers: What You Need to Know

You have decided to buy a home in Dahisar. That is a good decision. Dahisar is an established residential suburb that boasts of the best connectivity, social infrastructure, and entertainment avenues. But with the rate at which the real estate market is growing the number of housing projects is only increasing. The competition among the developers is fierce. The home buyer is spoilt for choices as this is the best time to buy a home.

This blog discusses important tips for first time home buyers.

Location

Although Dahisar boasts of the best connectivity to all the regions of Mumbai, choosing a project within Dahisar can be a task. It would help to consider a few factors while choosing the location or the neighborhood. Your new home should be accessible from Dahisar station or the local bus stop. It should be well connected to all the local areas in Dahisar by road. Some locations have more premium projects while others may have a mix of mid segment, premium, and budget residential projects. You must consider these factors while short listing flats in Dahisar East that meets your requirements.

Budget

Dahisar has many residential projects falling into different price segments. From budget to luxury flats in Dahisar, one can choose their project depending on the funds at their disposal. By factoring in expenses, current liabilities and contingency fund you can calculate the amount you can invest in purchasing your home. In case you are opting for a home loan, you must research the rate of interest and other factors offered by lenders like banks and financial institutions. It is best to be pre approved as it will speed up loan disbursal. Many residential projects have tie ups with banks, which will be beneficial if you are pre approved with the designated banks.

Safety & Security

Dahisar is a safe and secure suburb as many families have been living there since generations. Yet, it is best to make sure that the project is not near localities that are unsafe and known for disturbing activities. The project should have a gated concrete fence and proper security systems in place. Vulnerable family members like children and senior citizens should feel safe on your property in Dahisar East.

Due Diligence

Legal due diligence becomes necessary as most people have a large sum invested in the property. The project should have all the legal paperwork clear and secured required permissions. It is best to hire a legal professional to check all the documents and paperwork. Even while completing the formalities of purchase consulting an experienced legal expert is important. If this step is ignored then it could cause legal problems at a later stage causing stress to the home buyer.

By researching the location, working out the budget, checking the safety measures, and conducting due diligence one can rest assured that their home is secured for themselves and their family.



Home Buying Guide

Real Estate Terms To Know Before Investing

Investment in real estate is currently one of the most lucrative modes of investments. Dahisar is a suburb of Mumbai and is one of the upcoming real estate hubs in the city. Dahisar East has all the ingredients that any home buyer wishes for. It has the best connectivity, social infrastructure and a thriving urban life in the heart of the metropolis. Investing in a property in Dahisar East would be a lucrative decision assuring excellent returns. But before investing, investors must know basic real estate terms without which it would be very difficult to make informed decisions. Carpet Area The definition of carpet area remains the same for all the flats in Dahisar East. It includes: 1. The complete floor area covered in a carpet was to be laid on it. 2. The thickness of the walls between the rooms. 3. Staircase, if any, only inside the property. It does NOT include: 1. Area covered by the external walls. 2. Areas under service shafts. 3. External areas like the Balcony, veranda, terrace, and flower beds Built up Area. The Built Up area is the sum of the carpet area and the area covered by the separating walls and the balconies. The builtup area is usually 20% to 30% more than the Carpet area. An easy formula to calculate the Built Up Area can be: Built Up Area = Carpet Area + Thickness of the external walls + Balcony area + Exclusive Corridor area Super Built Up Area or Super Area A Super Built Up or super area is a total saleable area that includes the built up area and common areas like the staircase, lobby, corridors, lifts, and amenities like gardens and a clubhouse within the confines of the building property. So if you were to invest in 2 BHK apartments in Dahisar East the carpet area, built up area and super built up area are important terms to know. Loading Factor The difference between the propertys super builtup and carpet areas is known as the loading factor. To calculate loading factor, we use the formula: Super built up area = Carpet area *(1 Loading factor) So, if the loading factor is 1.3 then the 0.3 component of the loading factor constitutes the outer walls and amenities of the building. To make it simpler, it is also expressed as a percentage. If for instance, the loading is said to be 30 percent, it means the developer has added 30 percent of the carpet area to the construction. As per RERA (Real Estate Regulatory Act), the property prices should be based on the carpet area and not on built up or super built up areas. Developers often confuse property buyers with jargon. By understanding the key terms and their usage, investors can be assured of their investments in the upcoming property in Dahisar East. ...
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Home Buying Guide

3 Necessary Things to Know Before Buying an Apartment in Western Mumbai

The Mumbai real estate market is the largest and most prominent in India. Investing in an apartment in Mumbai is a lucrative opportunity for investors as well as home buyers. There are many projects for buyers to choose from in Mumbai. Buyers need to know the most important criteria while choosing their property. Their choices are personal and a one size fits all approach is not feasible for apartments. This blog discusses 3 necessary things home buyers should know before they invest in an apartment in Western Mumbai. Location and connectivity The location is by far the most important criterion to consider while buying an apartment anywhere, not just in Mumbai. It determines many things like the price, convenience, connectivity, and overall quality of life. Choosing a neighborhood that is close to the suburban station, bus stand or metro station favors people who commute daily. Less congested locations are preferred to reduce the vows of commuting in Mumbai. Locations prone to traffic congestion make movement stressful. The location should have easy access to schools, hospitals, and supermarkets for daily essentials like the projects in Dahisar. In western Mumbai, locations like are good examples of locations Dahisar, Bandra, Andheri etc, that meet the above considerations. Property Rates and Builder Reputation Western Mumbai is a large area and commands premium rates. Numerous projects are offering a variety of apartments at different prices and categories. Researching price trends will reveal locations and projects that fit in the buyers budget. The projects should be developed by reputed builders in Mumbai. Many projects in western Mumbai including flats in Dahisar, are being developed by reputed and unknown developers. Blindly believing the developer can be a risky affair. It is important to research the developer before investing in these. The projects should be RERA registered and known to deliver projects on time meeting the expected quality standards. If you are searching 2 BHK flats in Dahisar then make sure the amenities and facilities match the brochure. Features and Prospects The apartment should be scientifically planned with provisions for sufficient ventilation and lighting. The project should be well planned with proper security, basic amenities, and a healthy environment. The apartment project should have the facilities and amenities that meet the requirements of all the members of the family. Open green spaces, gardens, and pollution free environments ensure a peaceful atmosphere. The apartment is also an investment and should have good resale value. Upcoming infrastructure projects, better connectivity, and ease of congestion are good for the property ensuring long term appreciation. Upcoming business hubs, IT parks, and commercial development will appreciate the property value. These are the 3 necessary things to know before buying an apartment in Wester Mumbai. ...
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