5 Answers To Your Questions About Real Estate!admin
Answers To Your Questions About Real Estate!
A lot of people have several queries regarding real estate. This is an attempt to answer some of the basic and most often asked questions.
- What should one look out for while finalizing a property?
Location, budget, builder’s background, clear title, quality of construction are some of the basic things to decide before zeroing in on a house.
- What is the difference between carpet area, built-up and super built-up area?
The end to end area of a flat/house excluding area of the walls is known as carpet area. If you add the area of the walls including any balcony, it becomes built-up area. The built-up area combined with common areas like lobby, lift, swimming pool, garden, gym etc. is known as super built-up area.
- Buy a house or take it on rent?
If you can afford a house with proper loans, it is best to buy because it helps to create an asset, but ensure EMI doesn’t go beyond 35-40% of your monthly salary.
- What is a sale deed?
This is a document prepared to grant absolute ownership to the buyer of the property. It is formed on the basis of previous ownership of the property so that property can be transferred from seller to buyer.
- What is the valuation of property?
The valuation of property is the process to calculate the correct value of the property based on its location, quality of construction, type of property, amenities available, maintenance factors, supporting infrastructure available combined with demand and supply factors in the concerned area.