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How to purchase the best Apartment in Chennai?
Whether you are buying an apartment for the first time or buying to add to your investment portfolio, you need to be aware of which builder you are approaching. Though you can find all data about a builder with the tap of a button from your mobile, it is ideal to consider validating some of the significant 18 points mentioned below to buy an apartment in Chennai seamlessly. Isha Homes is one of the credible and best house builders in Chennai.
1. Location Advantages
When searching for an apartment, it is important to consider its location’s key advantages and disadvantages. You should check which municipality it falls under and the government’s planned projects for that area. It is also important to think about how the location would be from a residential perspective, including factors such as access to green space and water supply. Another thing to remember is how accessible the location is from other parts of the city or state.
2. Connectivity
When considering purchasing a flat, it is important to consider the resale value and rental potential. If you plan on selling the property in the future, you will want to ensure that it is in a good location & better connectivity to get a higher capital appreciation. By predicting how much your property value will increase in the future, you can make a more informed decision about whether or not to buy the flat.
3. Future Potential
When we purchase a property, we generally think we will live there for at least a few decades. However, unforeseen circumstances can arise that mean we have to move to a new location much sooner than expected. If you find yourself in this situation and realise that the property you bought is not suitable for someone else, it can be complicated. Therefore, it is crucial to consider the resale potential of any property you purchase. Will it appeal to other buyers? This is something you should think about before making a purchase.When considering purchasing an under-construction property, it is essential to research the future development plans for the surrounding area. This includes road and infrastructure development, proposed malls and other amenities that might be coming up in the next 4-6 years. If the location is not correctly connected to the main city, there might also be future plans for this. Knowing this information can help you make a more informed decision about whether or not to purchase an under-construction property. We Isha Homes, one of Chennai’s famous builders consider future potentials before initiating a project.
4. Water resources
Whenever you are choosing an apartment or an individual home to live in, you should inspect the availability of groundwater in that place and how the quality of water has been for years. In this case, you need to check with the builder and ask them for the report on the same. If your builder is proactive in providing you with the data, then it is a good sign that the builder is credible. To be on a safer side, prefer a location that is abundant in groundwater.
5. Builder’s Reputation
When considering purchasing a home, one of the most important factors is the reputation of the builders/developer who would construct the property. This is especially crucial when buying an under-construction home, as you need to be confident that the developer will deliver a high-quality product within the agreed-upon timeframe. Checking the builder’s past performance and track record will give you an indication of whether they have been able to complete projects on time in the past. To minimise your time, you can wind up your research process and opt for Isha Homes to find Chennai’s best builder.
6. Title of the property
It is essential for buyers to notice the title of the property and the same has been in the name of builder. In some cases, there would be discrepancies and it will result in issues in the future. Instead of going to a builder who has fancy titles for their projects, it is ideal for buyers to choose the one that has relevance to the project location & specification.
7. Statutory Approval
Every builder should have gotten the statutory approval to construct building from appropriate authority viz CMDA, DTCP, LPA etc. Though most builders follow the process and attain the statutory approval, some may not be availing it as they didn’t go by the rules of the government. In this case, everyone must seek the statutory approval document from the builder.
8. Draft Agreement
It is important to remember to ask the developer for a draft of the sale-purchase agreement once your booking is complete. You should also have a lawyer check it over to ensure that all of your legal obligations are clear. Most developers have a standard format for this agreement, but it is important to understand what you agree to. Check that all payment terms are included and that there is a clause detailing the developer’s liability if they cannot deliver the property on time.
9. RERA
If you’re considering purchasing a property, it’s essential first to check whether the project is registered with RERA (Real Estate Regulatory Authority). Each state has an authority in place to regulate real estate projects, and RERA registration is proof that the developer has followed all the necessary steps and requirements. However, even if a project is registered with RERA, this doesn’t guarantee that there will be no issues with the property. If buyers do face any problems, they should approach RERA for assistance.
10. Layout Efficiency
Do you know how important it is to have a well-designed layout in your home? The layout of your home can affect how efficiently you use the space. For instance, 2 apartments may have different layouts. Apartment A may be 720 sqft, but the room sizes may be spacious. On the other hand, apartment B may be 900 sqft, but the room sizes may be smaller. This happens because a considerable amount of area is wasted in the passages and terraces within the flat. You end up paying more for a flat with a less usable area. We at Isha Homes consider house building costs in Chennai, thus arriving at a proper layout efficiency as promised to people.
11. Open Space vs Constructed Space Ratio
As you evaluate any potential project, you must gauge the development’s open space. If too many structures or buildings are too tall, this can lead to problems like overcrowding in amenities or parking and traffic issues. Therefore, it’s essential to determine if the open spaces provided are sufficient to accommodate the number of residents who will ultimately be using the property.
12. Unique Specifications and Mandatory Factors
It is important to know the specifications of the materials that will be used to finish your flat. This way, you can ensure that the builder is using high-quality products that meet your standards. Pay close attention to the tiles, doors, windows, electrical and plumbing fittings, etc. that are being used. The builder may show you a sample flat with high-quality materials, but they may use lower-quality materials in the actual construction to save money. Knowing the specifications ahead of time can avoid any surprises or disappointments down the road.
13. Amount of Apartments per Floor
Do you ever stop to think about how many apartments are on one floor of a building? How does that number matter to you? Well, it can actually make quite a difference. If there are too many apartments on one floor, it can cause problems with things like privacy and elevator usage. Nowadays, you see projects with over 10+ apartments on one floor. If there are no shared walls or the apartments are not too close to each other, then it’s not a big deal. But if that’s not the case, then you might have to sacrifice some privacy.
14. Amenities Verification
When considering purchasing a property, you should also investigate what kind of amenities are included. Things like a clubhouse, parking, lift, power backup, swimming pool, and gym can significantly increase the property’s value. These amenities should be considered if you are looking for a property with good resale potential.
15. Car Parking Slots
Before buying an apartment, you should ensure the builder has provided sufficient space for car parking, including an XUV. Aside from that, some builders offer additional parking slots for 3BHK while others don’t give the same. So, knowing the number of car parking slots registered for you is ideal before signing the documents. In most cases, the parking space cost is included in the builder’s price list of the respective apartment.
16. Safety Measures
When looking at properties to buy, you should also consider whether the area is safe for your family to live in. Any factories, high tension cables, or garbage dumps nearby could pose a health hazard for you in the future. To check if this is the case, you can survey the area and look at the latest development plans from the municipal corporation. This will give you an idea of whether any adjoining plots have been reserved for such activities.
17. Maintenance Part
As a home buyer in Chennai, it’s important to be aware of the maintenance costs you’ll need to pay once you take possession of the property. In many cases, the builder will collect an advance payment for a couple of years, but eventually, the responsibility for maintaining and repairing the property will fall to the society. This can become tricky, as costs can rise if the builder has included high-priced amenities that the society cannot afford to maintain.
Though it is quite common in apartment culture, the maintenance cost varies from builder to builder and apartment dimensions. As a standard protocol, builders should have documented the maintenance amount in the document. This process will eliminate any unnecessary consequences in the future.
18. Architecture Nuances
The developer should give you the architectural drawings of the flat so that an architect or interior designer can check them for any potential flaws. Even a tiny mistake in the design can have a significant impact on your interior planning and design. For example, if there is a pillar or column in the wrong place, it could prevent you from being able to put your furniture where you want or properly install appliances.
When considering a building’s architecture, it is important to determine how well the entire building and project layout are planned. This includes factors such as airflow, ventilation, and natural light. While finding a flat that meets all of these criteria can be challenging, you can get a good sense of them by inspecting the property. As the best real estate builders in Chennai, we consider all the nuances to ensure people live in apartments comfortably.
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