Nimesh Bhandari, Chief Marketing Officer

Home Buying – A Lifetime Decision!

Home Buying is one of the most complex buying you will undergo in your life

Typical Home Buying cycle may span from 1 year to 6 months

Home Buying will have both short-term and long-term implications – so proper planning & guidance is must

Keep a buffer for unknowns before making a final decision – school change, job change, location change

Define your Requirement

Before you start your house hunt – define your requirement very clearly Investment or Stay Ready-to-move-in or Under Construction Required Configuration (2bhk/3 bhk) Budget – Upper cap & Lower Cap Your taste – Amenities, floor plan, fixtures

Use your best case judgment in case the long-term situation is not clear

Investment or Stay – Consideration of appreciation of property/area paramount

Pre-Approve your loan. SBI Always the best

Identify your preferred location

Identify the boundary of preference Area close/equidistant from office and

school Self sufficient area Proximity to Railways, Airport High growth area – potential of large office

spaces Identify 2-3 Alternative areas

Future benefit of stay Upcoming school / office spaces

Ready to move-in vs. Under Construction!

Buying from Builder vs. person Buying from builder less hassle free

(legally) Factor in delay in possession from builder

Current Free Cash Flow vs. Future Cash Flows Higher initial amount (on top of loan) Additional immediate expenses – registry,

furnishing Do the Math

Rent paid vs. Interest differential as loan disbursement immediate in ready-to-move-in

Factor in delay in possession Legal Expenses – Higher in Ready-to-move-

in

Create Exhaustive Pipeline

Do extensive Online Research Typical property prices in locality New launches in locality Compare properties online Select properties which matches your

criteria Project / Builder Check

Call Builder - Get more information about price, additional charges, loanability

Look for builder reviews / past project deliveries online

Eliminate properties which do not meet your criteria

Be Ready for Site Visit

Fix an appointment Call builders and fix an appointment for site

visit Have all decision makers ( wife etc.) be part

of site visit At the site- Check for construction quality,

pace of work Sample flat – Be wary of interiors. Double

check what all you would get as part of completed flat

Check for Open spaces, green area, efficiency of flat

Check for all additional charges. Negotiate on rate

Survey the surrounding area – nearby schools, market, building

Eliminate flats which do not fit in your budget and requirement

Create your Kiss list

Have a list of 4-5 can-buy projects Visit past projects from these builders to

check construction quality Estimate growth/investment potential of all

projects Compromise vs Comfort: Think about the

long-term impacts of compromising? Price vs Appreciation. Think Long-term Do a hygiene check of preferred properties

Sanctioned / Bank Approval Should not be near railway line, sewage etc. Approach road – if not good, plan in place

Bank Loan – Delve into details!

Bank Loan SBI – Low Interest vs. speed. Preferably go with banks who have

approved property Branch of loan issuance – some states have

additional stamp duty ( Noida vs. Delhi) Loan always floating (x + PLR) Negotiate on rates (x). Talk to branch

manager Go for EMI with principal deduction (even at

part disbursement) Opt for loan insurance No penalty on early repayment Term – lesser the better

Zero in your Dream House!

Look at the payment schedule Construction linked preferable Subvention scheme - If you think builder

can deliver on time. Do the math! Zero in your dream house

Analyze and summarize Compare on Comfort, Appreciation

Potential, Construction quality, Location Weigh and Give marks Believe in your Gut! If ready-to-move-in, hire a lawyer and get

documents checked

Final Deal!

Final negotiation Car parking -Take additional. Price

negotiation Lumpsum discount on booking. PLC Waiver

Legal Check Read the Builder buyer agreement carefully Read Bank loan agreement clearly Hire a lawyer – must for secondary

purchase Go through terms related to Club charges,

maintenance charges, generator charges, car parking

Read through flat specifications and dimensions

Penalty clause of builder on delayed delivery

Book your flat and have a peaceful sleep!

Document Check – Secondary Purchase!

NOCs NOC by bank if current owner has taken a

loan Loan closure certificate from another bank

if loan was transferred NOC and no-dues from the RWA NOC from Builder of no-dues

All previous receipts paid to Builder Property Registration document/ Deed Letter of Allotment by Builder to seller Id proof of seller, PAN Card of Seller

Negotiating a Secondary Purchase

Know the current rate in the area Understand the reason of selling of seller Clarify all additional expenses apart from

house price – legal, registry, NOC etc. Have clear understanding on what you

will bear and what the seller will bear Inspect the flat and evaluate the cost of

fixtures, cost of refurbishing the house Have everything documented. Have a

witness before you give initial cheque. Get your buyer-seller agreement vetted

by lawyer

Dos and Don’t - Interiors!

Do the furnishing, electrical, plumbing first and then go for paint

Furnishing – Don’t use inferior plywood in order to save cost

Contracting better if you have no prior experience – Give contract to plywood supplier

Split AC Arrangement – Call for an expert Inspect and make all necessary arrangements for

appliances in next 1 year If termite treatment to be done – do before

paintwork Paint – Get putty done for long last if walls are

not smooth Tile work – Not every expensive and gives

additional beaty to your house Bathrooms – make sure that tiles in bathrooms

are skid free, For shower cubicle use toughened glass

About RealtyCompass

Realtycompass.com is the India's first ever property search engine facilitating consumers to search each and every project in their city. It is present across 5 cities in India, and expects to launch in 10 cities in next 6 months.

RealtyCompass is a team of 25 bright people comprising of people from premier institutes (IIT, IIM, CA). We are rapidly expanding and looking for young talent. 

Built on a simple idea of providing consumers with accurate and exhaustive project listings in the city, RealtyCompass is a unique offering for both consumers and builders.

The Proposition

A Comprehensive Platform for consumer to search every project in his city and buy a right home @ right price by

reaching out to builders

A pay-per performance platform for every builder to reach out to his target audience with very high conversion ratios

Consumers

Builders

India’s first ever Property Search Engine

Problems faced by home buyer Unavailability of single platform with exhaustive list of every

new project Outdated information leading to high search cost for

consumers Elimination of projects based on information available online

Problems faced by builder High cost of acquisition of leads Absence of pay-per-performance marketing medium

The Current Market Gap

No efficient marketplace to address the needs of consumers and builders

The Solution

Create a Market-place where the information is accurate and current

Dis-intermediate brokers, by creating a connect between builders and brokers

Simplify Online House Search by capturing value-added data of projects/builders – past projects, %common area, construction quality

Help Builders reach to right audience by creating a transparent marketplace

Our Philosophy

Provide Consumers with exhaustive and accurate information to help them make informed decision

Our Philosophy is echoed by….

Provide Consumers with exhaustive and accurate listing of restaurants

Provide Consumers with exhaustive list of hotels along with

consumer ratings

Provides Consumers with exhaustive list of service providers with consumer ratings

Thank You !