7 Important Things to Consider Before You Invest in a Township in Gurgaon
Gurgaon is the hub of one of the fastest growing real sectors in India. Often dubbed as ‘Millennium city’, Gurgaon offers attractive flats and townships for homebuyers.
Investing in a new house is, of course, a crucial decision of your life as it involves a good amount of money. You need years of savings and planning before the right moment comes and you make the final decision. As purchasing a township in Gurgaon will involve a considerable loan followed by monthly installments, you need to be careful.
There are some key factors and parameter to consider:
The first step in selecting a house is to set a budget. It will make shortlist a home easier as you know how much you are willing to pay. Get quotation from various builders in the locality you are willing to purchase a house. Compare them and weigh the amenities that come with it. There are many portals where you can get comparative rates of properties, like portal listings, newspaper listings, etc.
Location and locality is a prime factor to consider, no matter in which part of the world you are buying a property. In Gurgaon, you can find many great projects and luxurious townships located in the heart of the place. Location plays a great role in deciding the resale value of your property. So, choose your home wisely.
If the main motto of your investment is to purchase a rental property, choose a high area. As it is Gurgaon, you will always get a high rent, no matter in which part you purchase. Still, knowing about different rental areas can bring a big difference.
Real estate projects differ in providing facilities. If you are purchasing a residential property, make sure that it is connected through excellent roads, like NH-8, Sohna Road, and Golf Course Extension Road. In addition, ideally, your home should be in close vicinity of operational office space, malls, parks, etc. Gurgaon is a major IT hub and hub of many multinational companies, so you will not find any difficulty in finding a good home near the center of the place. In addition, make sure that social infrastructure like schools and hospitals are in proximity to your township.
After location, comfort is the second most important factor as you are going to invest in your dream home. Your township should be unmatched in terms of design, layout, and amenities. Make sure that your house is well-ventilated and receives sufficient natural light. It will ensure a healthy lifestyle for your family. Also, pay heed to green space provided by your township. A compact space is not worth to spend money as at present, there are several excellent townships in Gurgaon that are offering sprawling landscaped gardens, central green lawn and open areas at affordable rates. Parking space, health care facilities, education centers, power back-up, 24/7 civic facilities, and security are another facilities you must look for in your house.
If it is your first home buying experience, you might not be aware of several hidden costs, like fees charged by real estate agents, home inspector, lawyer, lenders, etc. In addition, any township in Gurgaon will have a maintenance charge. Enquire about it from your broker. Besides, check whether car parking will be provided at home or you will have to pay an extra cost for it.
Traffic is an unavoidable problem in entire Delhi-NCR. So, travel to your township, you are planning to purchase during peak traffic hours to get a feel of the everyday condition and neighborhood.
Purchasing a house is of course a tough but great experience. It may take some time to research, rethink and decide a property, but it all will be worth if you choose the right option.