Riverside apartments have always been the most preferred choice for home buyers. The chance to sit back in your bedroom and watch the rivers silently is an experience in itself. This is also one of the reasons why flats near ganga river are pricey and are very high in demand. If you are one of those looking to buy a dream home close to the Ganga, let us discuss the five most vital things that you need to keep in mind.
The price of apartments is seeing an upward rise by around 10-15% as per CREDAI. This is due to the increase in raw material costs over the last few years. With an upsurge in cement and steel prices, the construction industry was forced to rethink its business strategies both for the lower and middle-income groups. So if you are looking to buy a property closer to the river then it is necessary to factor in the rising prices and adjust your budget accordingly. Government-run housing projects which are affordable can be a good option.
Buyers need to know the scope of external financing for the properties they are willing to buy. Mainly due to bad reputation, banks often refuse to finance projects by builders, who do not have good records. So make it a point to ask the builder about the financiers who are willing to provide loans and act accordingly.
Often builders advertise their projects based on the super built-up area which includes elevators, shafts, walls, etc. So, the actual area where you will live is much less than that. To deal with it, the government of India has come up with the RERA (Real Estate Regulatory Authority) in 2016, which makes it compulsory for real estate companies to mention the carpet area, based on which the price should be fixed. So as a buyer, know the carpet area because that is the actual space within which you will be living in.
Analyzing the topography of the land is very important. Also, you should know about the ownership structure, obligations, and other previous records to make sure that you don’t get into legal problems later on. Checking the title deed with your lawyer is crucial to avoid further problems arising in the future. Get in touch with property experts who will guide you through this process and make an informed choice from the beginning.
Builder Buyer Agreement
All the details of the property are mentioned in this agreement which must be signed by all the parties involved, builder, buyer, and banker. Make sure that you read the whole thing and understand every detail of the document. Engage your lawyer in this and get into the skin of things.
As a buyer keeping the above things will improve your chances of getting the ideal property in a location you like. Getting flats near ganga river is a dream for most buyers. However, getting your preferred apartments is quite a challenging task, owing to the rising prices. So, in case you are one of those still searching for the right locations, do check out our newly constructed properties around the riverside. With affordable pricing and a great location, enjoy your life at our finest properties with all modern amenities.