While Gurgaon is one of the major real estate hotspots in the NCR and India, choosing the right property here often proves to be difficult. On one hand, the large variety of realty projects presents the buyers with a lot of options. On the other hand, they often get confused and buy the wrong property, a mistake which can easily be averted. Here are some of the major elements you should check out when you buy property in Gurgaon to make sure it’s a good purchase.
Property type: It is important that you first decide what type of property you are going to buy, as that would help you narrow down your search. After all, every property buyer has his/her requirements, preferences and budget.
- In case if you are an investor, decide whether you wish to go for a residential property or a commercial one. It would depend on several factors, such as whether you prefer to earn returns from rent or lease. For end-users, this would depend fully on their requirements.
- There are various options under both residential and commercial segments. Homebuyers may go for studio apartments, service apartments, penthouses, villas and flats of various configurations. Those seeking commercial properties may go for retail shops, showrooms, offices, restaurants, food court spaces, etc. This too is something which depends upon your requirements.
- The configuration of the property is another major factor to consider. For example, if you are an end-user with a large family, a 1 BHK apartment is unlikely to be enough for you.
Location: Several real estate hubs have emerged in Gurgaon, each one witnessing an increasing number of property launches. Property buyers often get confused regarding where to buy property in Gurgaon as all these localities come with prime reality projects.
- You may base your choice on the property type you chose. For example, it makes little sense to purchase a retail shop in a locality without a good catchment rather than one with plenty of residential complexes in the vicinity.
- The purpose of your purchase would also affect the choice of location. If you are buying a residential property for personal use, then you would have to set your priorities such as the proximity to academic institutions, venues of entertainment, connectivity, etc. For investors, it is best to buy a home close to the corporate hubs of the city.
- You should consider the land rates and price trends in a region before buying a property there. Investors would typically want to go for a location where the price trends are rising, as it is more likely to ensure profitable returns for them.
Developer: A factor which is often ignored by homebuyers is the reputation of the builders. It is highly recommended to pick a builder that has already created a good track record.
- Check out the portfolio of the projects developed in the past by the builder. It is advisable to go for a builder if they have already developed properties similar to the one you seek. For instance, if are looking for a luxury home, then you should choose a developer specialised in high-end real estate projects.
- Take a detailed look at their previously developed projects and even reviews if possible. This way, you would be able to get an idea of their standards, quality and dedication.
The leading builders partner with firms of similar repute for their projects. These may include interior designers, architects, landscape artists, construction partners and more. Try to choose a developer with reliable project partners.