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Real Estate market is booming. Real Estate has always been rewarding in terms of
return on investment in the National Capital Region (NCR). Delhi is large and over the period of time, Gurgaon, Noida, Greater Noida,
Ghaziabad and Faridabad have joined hands with Delhi to create a larger and more attractive market. With the economy booming , the commercial
real estate market has also shoot up.The demand commercial space in the National Capital Region (NCR)
is evident from the hum of construction on hears in Gurgaon and Noida. 80 percent of this demand is derived from the booming IT sector with
call centers and BPOs adding to the clamour.
You may want to buy a residential, commercial or industrial property. Accordingly You will identify the list of your preferences, like:
1.Property type (Residential, commercial, Land etc.)
2.Area of the Plot
3.Price range
4.Room sizes (Number of Bed Rooms, Bathrooms)
5.If Built up (then numbers of stories, or other specifications)
6.Preferred Location (park/road facing/corner)
7.Preferred Locality Property ownership (lease/free hold)
8.Preferred floor (if flats)
9.Builder's/Association/Society Properties
10.Facilities, like Parking, Servant Quarter, Medical, Genset, Security, cable etc.
Other identifications are like distance from railway station, bus station, airport (if exists),
Access to market, schools etc.
Some of the basic points to be remembered when buying a House/Flat:
»Ensure that the paper work and title documentation are in order. Consult your lawyer or a friend knowledgeable in this area
»Bear in mind factors like approach roads, upcoming structures in the area and the availability of all basic amenities.
The following are the necessary provisions for buying a House/Flat from a Second Owner:
»Check for proper Development Agreements and the authority for conveyance of title in favour of builder/promoter.
»Check if occupancy certificate has been issued by the municipality authority with the approved of Building Plan.
»Obtain a clear and marketable title of the project.
»Ensure execution of proper sale agreements on your initial payments.
»See the sanctioned plan.
»Register the property.
»Verify plinth area of the apartment.
»Check carpet area of the apartment and find out if the difference between plinth area and carpet area is reasonable.
»Ask for completion Certificate.
»Ensure whether reputed financial companies approve the project. This will help you to get financial loans.
Approvals:
»Has your builder/promoter acquired the approvals from Municipal Corporation, Area Development Authorities, Electricity Boards, Water Supply & Sewerage Boards, Airport Area Authorities?
Ask for adequate proof of this, by way of authorized documentation.
Amenities:
»Verify whether specifications as assured by the builder has been delivered, including quality of construction and availability of drinking water.
Tips for selecting commercial space:
When selecting space for your organisation or store, you need to keep a few points in mind. The developer should be comprehensive solution provider with
capabilities in project management, upkeep, maintenance and services.  It is always advisable to choose a developer with a proven track record and an established reputation as
it cut down the risk factors. With large sum of money involved in commercial real estate transactions, the developer is advisable who is flexible and transparent in dealings.
The location of the project is another important factor.If it is office space you are interested in, there should be facilities like public transportation, connectivity, restaurant,
banking facilities and ATMs as well as proximity to residential areas among others. Although most upcoming project have their own power generator, it is important to verify the availability
and status for water and power supply.
For any company entering a new business or expanding an existing one, an important aspect is to set-up shop at the most ideal location on the most suitable term.
Today, the preferred choice for a multinational company entering the Indian market is to lease out office space rather than buying property. Leasing the property
gives them the flexibility of exploring the market without blocking capital by investing in property and lease rental can be set-off against their income. Vastu tips for real estate purchase:
»Rocky, non cultivable land is not good.
»Plots/buildings sold by rich people for reasons other then misfortune & poverty is good. Sale by distressed, unfortunate people should be avoided.
»Rectangular plot with long north to south is better then long east to west.
»Wider front gate & narrow end is not good. Narrow front with wide back is good.
»A small sized plot between two bigger plots is not good.
»Reject any site with well towards North or East.
»If your plot is not rectangular see that at least South East and South West Corners have a 90 degrees angle.
»Except in North East, if your land is elongated towards any other side it is not good.
»Never buy a plot which is cut on the North East corner.
»If North East corner of the plot is extended it is very good.
»The plots should not be in the neighbourhood of any religious place, public places, like marriage halls, hospitals, courts, factories and burial or cremation grounds.
»The South or West of the plot must be higher than North and East. If it is not, you should be able to make it so by filling and putting more earth on the same. If it is not possible you should not buy the plot.
»If you are making an underground tank for water storage in your house, locate it in the North Eastern corner of your house. Muncipal water supply should also start from North East direction of the house.
»Sourthern side road is not considered to be very good.
»Northern side road is good.
»A road on the Western side is reasonable.
Check out more details on Indian Real Estate from more references:
Murrieta new home builders -Indian Real Estate website with comprehensive listing of residential and commercial properties.
Real Estate India -Indian Real Estate website with comprehensive listing of residential and commercial properties.
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