Things to look out for if you are planning to buy an apartment for rent in Gurgaon for resell

Things to look out for if you are planning to buy an apartment for rent in Gurgaon for resell

With the exponential rise of NCR especially Gurgaon, more people are flocking to the offices of top real estate agents in Delhi to get the best-located properties. No wonder the entire proposition is too good to be missed. Many potential buyers of these properties are those people who are looking to resell the property in the foreseeable future. It is a smart tactic to employ as the valuation of a property can spike up at any point in time. In order to maximize your investment, especially in terms of retail value, we give you a rundown of certain key points:

  • Valuation-This will be the first talking point when you pick a specific apartment for rent in Gurgaon. Not just the current valuation, the valuation in the coming future should also be projected in consultation with the property dealers. Though the eventual selling price may not be exact, you can still figure out the opportune time for reselling.
  • The developers of the project- This is also a major factor when you wish to get a residential property. An individual or a real estate conglomerate must be of repute without any shoddy past record. This means they must not have the reputation of having a commercial and residential project which got stalled due to failure to abide by government norms. RERA registration and adherence to regulatory requirements must be the top two pointers that you need to check before going ahead with the deal.
  • Property’s age-The age of existence for new as well as old properties is of equal importance. While the newer ones may look all set for occupation, they might have certain obligations of documentation and mutation of properties to meet. Similarly, the older properties are to be scrutinized with regard to how dire the need for renovation and repair is. If it escalates beyond your estimation, there is no point in owning the property.
  • Type of construction materials used-It is true that we, as laymen won’t have inside-out details on the type of construction materials used by the builders. But what we can do inspect is the structural designs, verify room measurements listed in the layout, etc. More emphasis should be laid on checking the sanitary fixtures of the properties. That is to say, you need to check for any cracks, seepage, or other plumbing issues in the restroom and toilets. The caution must be doubled when you are planning to own an old property since they add more liability than qualifying as a robust asset for future use.
  • Locality- The locality of the property is the biggest game changer and can make even the smallest, barely furnished apartment for rent in Gurgaon go high on the list of choices. An ideal locality must have a peaceful environment, and all the basic amenities. These factors are crucial in determining the overall ROI and price growth.
  • Connectivity- No surprises here. When you are in the NCR, the connectivity to all the critical junctures within the city and the areas in and around it becomes most crucial. Therefore, the property dealers in Gurgaon should have those properties in their portfolio which are nearby schools, major roadways, places of recreation, and public transport points.

In addition to these major factors, it is very important that you take into account the stamp duty and registration cost of the properties. It must be known that the stamp duty charged varies from one city to another and also on the basis of the nature of property; that is commercial and residential.

Once these thorough checks are done, you are set to own the property of your dreams!

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