Guide for Buying an Apartment in Your Locality

This is an era of the flat plan. With number of home buyers continue to rise, flats to live in or to let have become one of property’s growing areas. Any buyer’s with a bit of money to spare dreams of a loft or a glamorous pad.

Individual home buyers seek a much larger pond than they might have imagined. Investment in Indian Real Estate property has become huge and global. According to source, the value of rented property in the India went up by 30 per cent in 2012. And rents will rise by 24 per cent. So where should you stand, what should you look for, what are the considerations?

WHERE TO BUY?

This of course depends on how much money you have in your Wallet and why you are buying. As a rule of thumb, buyers will look for capital growth over a long period and buyers will hope for lower capital increases but higher rental incomes. In Some cities you might get double-digit rental but there may be very little growth and even a drop in value can affect it.

BUY TO LET

Young married couples priced out of buying single-bedroom flats to rent, smaller flats which give higher returns on investment than larger ones. Rented family houses have done less well because corporate rental budgets have shrunk for businessmen jetting in with their families to spend a few years in India. When compared to rental incomes on one-bedroom flats have risen by 3.2 per cent since the peak whereas two-bedroom flats by 1.1 per cent.

BUY TO LIVE IN

This is a very different sort of purchase. With prices are so high, in areas like Delhi, Mumbai, and Chennai are now the more affordable alternatives. "The best buy is a from ECR and OMR side flats with double bedrooms for which you could expect to pay minimum of 50 lakhs. You don't have to pay money high service charges in an adaptation like this.

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