ULTIMATE GUIDE TO REAL ESTATE INVESTMENT TRUST OF INDIA
Before understanding what REIT India is, let us look at few residential projects managed by us across India..Lodha Crown Thane Majiwada, Mahindra Eden, Mahindra Luminare Gurgaon, Puri The Aravallis, Shapoorji Pallonji Vanaha Golf View Apartments, Mahindra Nestalgia, SOBHA Victoria Park, SOBHA Royal Crest, SOBHA Windsor, Mahindra Happinest Kalyan 2, SOBHA Sentosa, Mahindra Alcove Chandivali, Mahindra Lifespaces Kanakapura Road, Mahindra Lifespaces Pimpri, Mahindra Roots Kandivali, TVS Emerald Jardin, Mahindra Lifespaces Kandivali, Mahindra Happinest Dahisar, Godrej Splendour Whitefield, Godrej Connaught One, Birla Shettigere Bangalore, Puri Sector 61 Gurgaon, Mahindra Vicino Andheri, Hero Homes Gurgaon, Joyville Sensorium, Joyville Gurgaon, Birla Niyaara Worli and Mahindra Tathawade Pune.
Now come to the topic, when it comes to investment in India, Indians have vast options to spend their money. Right from stocks and mutual funds to gold and government securities, the options are aplenty and one of the best is REIT Investments in India.
Real Estate Investment Trusts were introduced by the Securities and Exchange Board of India (SEBI) in 2007. Still, all these investments endure from ups and downs due to market fickle or offer returns that cannot beat inflation.
There is one investment option however which several generations are fascinated with and that is Real Estate Investment Trust (REIT India). To buy a piece of land or an apartment is a sign of pride, pleasure, maturity, and true success.
While realty can offer you the advantages of price appreciation or a regular income in the form of rent, one simply does not go and buy any piece of land or a random home. So how does one go for investing in real estate in India?
Now, we've clarified the realty sector and explained what you should be aware of and keep in mind when it comes to real estate in India. It is a guide that should help you understand the basics so that no broker or realtor can cheat you.
1. Know What You Need
It never be reasonable to invest in a product just because everybody else is doing it, especially in real estate. You should invest in properties if you need a new place to move in, have the resources for a second home and can put it up for rent, or wait for its price to appreciate and sell it. And you should have the reimbursement ability if you take a home loan. Realty, unlike other investments, is expensive. Dig into it after a thorough introspection.
2. Patience Is Key
If you have search into it yourself and concluded to become a homeowner, then learn the art of waiting or patience. To find the home or land that perfectly fit your needs is a not a simple task. You will come to know about many houses for sale, under-construction apartments, and occupied homes. From its location to surrounding zones and even the amenities on offer, to find that one place is quite similar to a looking for a black cat in a coal cellar. Patience is what will help you drill through as you explore the places, you do not want to end up in a place you grow abhor and regret, do you?
3. Background Check Is a Must
Each day, you will see construction companies put up ads promoting their upcoming projects. You may like the places advertised. If you decide to pay a visit and decide to buy one, remember to check all the papers. Right from all the necessary permissions, documents, and clearances; one single error and the project may get delisted or disqualified. Take a certified accountant or a broker friend with you if possible.
4. Inspect the Size
The RERA Act directs developers to disclose the carpet area of the properties they sell. Carpet area refers to the usable area of an apartment. Simply put, it is the area over which you can literally spread a carpet. This mandate was made to ensure developers do not price and sell their units to customers citing Built-up area or Super built-up area. Thus, you as a buyer will only pay for the usable space in a unit.
5. How Liquid Is It?
Most people invest in real estate keeping the money from rent or selling it to gain a financial gain. However, as an outsider to the industry, know this open yet unspoken fact. Many homes may take years to sell or rent. The reasons can range from location and nearby amenities to plain hard luck. Moreover, before investing, check with people and brokers to see if your investment will deliver the returns when you need it.
6. Talk to People
Neighbours can make or break your stay in a certain place. It is clever to keep good relations with them. When you inspect a property, try to talk to prospective neighbours. Ask them if the amenities marketed by the real estate agent match the ground reality, the type of crowds in the area, and how close are the railway stations, bus stops, schools, market and hospitals. These questions will help make your decision easier.
7. Can You Afford It?
All the thoughts about buying a home go right out of the window if you cannot afford it. Most people take a home loan but banks check your credit score before approving any application. How good is your credit score? Can you repay the principal with interest? If yes, then go ahead and apply for it. If not, remember any default will create more inconvenience than you can imagine.
A real estate investment is an exquisite choice to make. Keep all your eyes and ears open to determine if the unit is a right fit. From price and location to amenities and affordability, think about these factors before signing on the dotted line.
If you would like to book flats in Mahindra Lifespaces Pimpri and to avail exclusive offers, do call or WhatsApp at 8825183565.
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Noopur writes the content on real-estate from several years and she is one of the few writers who provide the thought-provoking content on best properties deals.