Tuesday, 30 January 2018

Here’s how to go about buying plots in Mohali

Buying a plot has in a way become a thing of the past these days particularly in big cities because land has become a rare commodity. Every vacant land parcel is grabbed by builders to construct high rises, leaving very little room for people to buy independent plots to build their home. People who want to buy their own plots are hardly left with any option than to check out properties available in the outskirts or suburbs. This is the usual state of affairs in real estate in metro cities like Delhi, however, in places like Mohali, people still have the option of buying plots within the city. 

Mentioned below are some of the tips to follow to buy plot in Mohali or any other place where land parcels are available for sale:

· Just like home loans that you get to purchase a ready apartment, you can also get a loan from a bank for buying a land. However, the rules for getting loan for lands may differ and therefore, it is important to talk to an expert before starting with the procedure.

· When buying a plot, make sure that the original Deed Title, Encumbrance Certificate and Property Tax Receipts and Bills are in place. Also make sure that any previous loan on the plot is paid off with a release certificate.

· It is always recommended to purchase land near upcoming or prime growth areas as this means your property has a greater chance of increasing in value at a faster rate. Thus, when buying a plot, check the area for building codes, zoning, and other regulations to ensure the area will maintain its value in the future. 

· Buying property from a developer or builder can be a cost effective option and thus, when planning to invest on plots make sure that you are choosing a reputed real estate developer.  

· Check a property’s legal documents to ensure that you can use the site and build the home the way you want. HOA rules, Restrictive agreements, historic districts and environmental conditions such as wetlands can affect the use of a property. Therefore, it is vital to check all restrictions related to plot before finalizing on the same.

· Find out how much land you would like to use as built up area. Think whether your dream home will fit into that land before buying a plot.

These are some of the tips to follow when buying a plot. 

It is important to note that a land is always an asset and owning a land can become an easy task provided you follow the above mentioned tips.

Thursday, 28 December 2017

Finding the Best Office Space in Mohali

As you scout the spaces for an office in Mohali, you may find the entire process tiring and frustrating, given the amount of choices you have. Yes, Mohali is a happening city that is fast turning into a commercial and industrial hub in Punjab. Hence, the demand for office space has spiked and finding the ideal space requires more than cursory planning.

Here are some tips to help you find the best office space for your business:

Plan Your Budget
Before you begin looking for office space, get your budget in order. In Mohali, just like in any other city, the price varies based on the location and size of the office. Hence, in order to work out your budget, you will need to shortlist a few locations in the city and freeze on the size of the office. Be realistic when it comes to your budget by scouting different areas and getting a feel of the price of the properties in those locations.

Find the Hidden Costs
Every property has some associated costs that you need to be aware of. Whether you are buying or renting the office space, it is important that you find out about the hidden costs in the form of common area costs, utility costs, housekeeping costs, security costs, and others. This way, you will be able to discern whether you can actually afford the space you are interested in.

Check the Location Carefully
Choose a location based on your business. For instance, Sector 85 in Mohali is a commercial hub and home to many offices, restaurants, cafes, and banks. This makes it easy for you to entertain business clients, while making sure that your employees can access restaurants and banks with ease for their personal use. Also, the sector is easily accessible by different modes of transportation, so employees, clients, and visitors will be able to commute with ease.

Every office requires certain amenities to function optimally. When you narrow down the list of spaces for your office in Mohali, check and compare the amenities. Today, it is normal for developers to offer 24-hour power backup, security, surveillance, pantry services, housekeeping, and ample parking space. These are the amenities any office worth its while should have.

Use these tips to find the ideal office space for your business in Mohali. Of course, there are other factors that you may have to consider too; nonetheless, these tips give you a starting point to begin your search for the ideal office space in the city.

Tuesday, 17 October 2017

Factors to keep in mind while investing in Luxury Residential Properties

Before you purchase a luxury residential property, it is important that you evaluate your finances. Based on your earnings and expenditures you should fix budget regarding how much you are willing to invest in purchasing a luxury residential property. Once you have fixed a budget, you can start searching for suitable residential properties. Moreover, if you are looking at the transaction as an investment, then you must take into consideration factors like location of the property, reputation of the realtor and also the amenities provided by the residential property as a whole. All of these factors have bearing on the price of the residential properties. The importance of taking the earlier mentioned points into consideration while investing in a residential property have been discussed in the following section.

Investing in Luxury Residential Property

If you are looking for a residential property in Mohali then it is advisable that you purchase one that is located within a hi-tech township, which is being developed by a reputed real estate development firm. It has been observed that residential properties located within ultra-modern and mega townships, which are spread over three hundred acres of land, have higher rates of appreciation than standalone residential complexes. Along with the location, there are certain other factors that have bearing on the price appreciation rate of residential properties and some of these are as follows:

  • Ensure that the city in which the luxury residential properties are located is a thriving commercial and industrial centre, like Mohali. This will ensure that there is an influx of individuals from the high income group who are willing to pay sufficiently high rents for luxury apartments. This will subsequently ensure that you are able to realize your investment with ease.
  • The residential property itself should have facilities like wide open green spaces and should be in close proximity to departmental stores, pharmacies and other commercial centres.

Thus, irrespective of whether you want to purchase a luxury apartment as an investment or in order to stay in it, it is important that you evaluate carefully all aspects of the residential property as a whole.

Tuesday, 12 September 2017

Factors that can help you determine whether to Rent or Buy a House

The question of whether to purchase a house or stay in a leased place has always been a debatable thing. The change from being a tenant to a house owner is a complicated one, both financially and emotionally. Investing in a property is no doubt a smart choice; provided you consider the below mentioned factors:

  • Owning an apartment is an expensive thing and if you do not have the means to pay for it out-and-out, you will need to opt for a Home Loan. In case you opt for home loans, then it is important to keep in mind that banks tend to give you a loan around 80 to 90% of the cost of the property. This means that the rest 10 to 20% needs to be given by you. Moreover, you will have to ensure that you have sufficient cash to make the down payment.
  • Another important factor that you need to consider is the ratio of debt and income. This is basically the number of loans that you have taken in proportion to the income. When taking a loan, most lenders look at this proportion to ensure that you do not default on your debts and loan payments.
  • When purchasing a house there are other expenditures to think about such as insurance, property tax, maintenance and annual repairs. You also have to think about which city to buy the house in, the Metros or the Tier II cities like Mohali that will be soon developed as smart cities.
  • When you buy a house, keep in mind that you need to give up on flexibility. In case you shift jobs and your new office is at a distant location from where you stay then that can be an issue. Obviously, there are ways to cope with this but it is something to think through when deciding whether to buy a house or rent one. If you can buy a house in the city center, in cities like Mohali you can surely save up on the travel time and easily reach your workplace.

As mentioned above, there are a range of factors that needs to be considered while making the decision to stay on rent or buy a house. Real estate is an ideal asset class to possess and can act as a guard against inflation. But, you should not buy a house just because it is good to own a property. A careful analysis of the above mentioned factors should help you to determine if you can purchase an apartment or buy a villa in Mohali or similar Tier II cities or continue to stay on rent.

Wednesday, 5 July 2017

What are the Factors that Determine the Price of a Residential Plot?


If you are thinking of purchasing a residential plot, then it is important that you understand the factors that are taken into consideration while determining its price. Purchasing a residential plot is essentially a monetary investment and hence, you must ensure that the investment produces good returns. Additionally, evaluating the factors that affect the price of a residential plot is essential, so that you do not pay more than the required amount. Managements of renowned real estate development firms insist that clients must have a thorough idea of the ongoing price of residential plots of a certain region, so that they do not fall prey to unscrupulous realtors. Moreover, it is advisable that you purchase a residential plot from a renowned real estate development firm, so that you can be assured about the pricing of the plot of land.

Factors that Influence the Price of a Residential Plot

If you want to buy plot in Mohali then the first thing that you should take into consideration, while evaluating the price of the residential plot is, its location. Prices of residential plots that are located near an important by lane will definitely be higher than one that is located in the interiors of the region. Additionally, residential plots within integrated townships are more expensive than standalone residential plots. Hence, the location of the residential plot plays an important role in evaluating the price of the piece of land. Some other factors determining the price of a residential plot are as follows:
The topography of the land, such as quality of the soil, rocky terrain, presence of water and other such factors also affect the price of a residential plot. The price of fertile and agricultural plots are usually higher than residential plots that do not have any significant features.
The size of the plot, i.e. the square foot area of the residential plot that you wish to purchase is also a crucial factor in determining price of the piece of land.

Thus, features like the location and size of a residential plot are the major factors that determine the price of the plot of land.

Tuesday, 30 May 2017

Why Invest in the Delux Villa of a Reputed Builder in Mohali?

The delux villas are normally built in order to cater to the demands of people who like to live in such independent houses and are willing to spend enough to enjoy luxurious living in such apartments. People who want to live a lavish lifestyle normally invest in these villas.

If you are planning to invest in a delux villa, and want to know more about the different features and benefits that you can expect to have is such a property if it is developed by a renowned realtor. Read below:

  • The luxury villas are very spacious and every aspect of such properties are built to exude class and luxury. These villas are available in a variety of sizes ranging from 250 sq. yards to 500 sq. yards.
  • These villas are a perfect balance between the ethnic and the contemporary life style and are made to promote green living as well as give every occupant their own space.
  • Generally, the villas that have come up in Mohali also have center courtyards, which have always been an important feature of Indian homes.
  • These villas also have beautifully constructed dining, living and lounging areas so the occupants can enjoy a comfortable living.
  • A front lawn is also an essential feature of such luxury properties.

So, if you can arrange for enough funds to purchase a villa, you must try to buy the expandable ones that are being developed by reputed property developers across North Indian cities like Mohali. The expandable delux villas in Mohali have a lot of room for expansion, and you have the option of designing the villa, the way you like. In such villas, you can keep an open terrace, or build a small temple on it or if you want, you can also have an awning that can be controlled by you. In short, the expandable villas allow you to tailor your terrace as per the individual requirements. Moreover, investing in the real estate project of a reputed builder will also help you to get proper value for your money.

Monday, 8 May 2017

What should You Look For While Purchasing a Luxury Villa?

Villas are preferred by individuals who want to enjoy the pleasure of in a standalone house and at the same time have easy access to all modern amenities. Luxury villas can be purchased from real estate development firms, which are involved in developing modern or hi-tech cities. Villas, which are located within a ‘hi-tech’ city, ensure that you enjoy the privacy of living in a standalone house. At the same time, villas in hi-tech cities provide facilities like one hundred percent power backup and twenty-four hours security, to the residents. Nevertheless, there are certain points to be considered while purchasing a luxury villa and some of these have been discussed below.

Guidelines to Purchasing a Luxury Villa

If you are looking for extraordinary villas in Mohali then ensure that you purchase it from a renowned real estate developer. A Luxury villa demands a huge monetary investment and hence, it is advisable that you procure a home loan. If you purchase it from a renowned realtor, then you will have easy access to all legal documents, thereby making it easier for you to get a home loan. Some of the other points to consider while purchasing a villa are as follows:
  • Since a villa is primarily a standalone house, it is essential that immediate area around the villa or the courtyard have landscaped gardens. This will add to the overall ambience of the villa.
  • Check the total square yard area of the villa. The areas of luxury villas can range between two hundred and fifty square yards to five hundred square yards. Depending upon your budget and the design of the villa, you should select one that meets your requirements.
Purchasing a luxury villa requires extensive monetary investment and hence, it should be done only after careful consideration of all aspects of the property