2. Living in one of the best cities in India comes with its own costs.
Finding the perfect property in Mumbai in a day or two is next to
impossible, and a certain amount of research and exploring needs to
be done if you want the right house at the right price.
Firstly, you need to be clear about what exactly it is that you are
looking for. You can go for an independent house, a flat or a studio
apartment. You must also have a general idea of the size and
number of rooms, and also the facilities you are looking for.
Secondly, you need to know about the areas in Mumbai and which
area you prefer. Bandra, Andheri and Juhu are the upcoming
hotspots that people are investing in.
3. There are a few things that you should be aware of before taking any major
steps in favour of buying a new property in Mumbai, to ensure that you get the
best deal without facing any problems.
It is important to do your research about the area, the builders and the society
or surroundings that you are looking at.
It is also necessary to make sure that the local governing authority has given
approval for the construction of the apartment. There should be no fraudulent
building or construction without permission that could land you in trouble later.
The advertisements and hoardings that you come across may not show you the
correct picture and may be misleading, which is why you should always
reconfirm everything with the builder. Ask questions about everything from the
size to whether they propose to offer the super built-up area or carpet area.
You do not want to spend your money on what you were promised, only to find
something different later and end up regretting it.
4. While doing your research, also know everything about the builder, their
financial status and other background information. Take opinions about their
credibility as well. You can also look up previous projects that they have set up
to know more about their work.
Make sure that your sources of research are accurate and reliable. To find out
more about firms and those at the helm of such firms, such as Nabil Patel DB
Realty, you can start with checking reliable websites on the internet. For
instance, you can check Nabil Patel Wikipedia, or you can check out Realty news
portals to find out more about the state of the real estate sector in Mumbai and
around India.
While buying the property, you have to be completely sure that you are making
an informed decision, for obvious reasons. Once you have gathered all this
information, you can be all the more certain about whether to make an
investment or not.
5. Do not take the rent agreement casually. It is necessary to have all the terms
and conditions chalked out. The different laws and provisions according to the
state, term for tenancy and other important information have to be stated
clearly. If the agreement exceeds 11 months, it is compulsory to register.
6. While you would like to have cordial relations with the tenants, it is also a
necessity that you bring a sense of discipline and ensure that they pay the
correct amount at the right time. Otherwise, there will be problems later that
will affect your peace of mind.
7. You also have a set of duties as a landlord, revolving around the maintenance of
the property. Paying the property tax on time, investing in necessary repairs and
ensuring that basic amenities are in place for the tenants should be your
priority. You should not shirk away from addressing any query or concern on
behalf of your tenants. This is also a major factor in your relations with the
tenants.
To know about rental trends, you can do a quick web search such as Nabil Patel
News.
