Planning to buy home this festive season? Don’t just go after attractive discounts, check builder’s profile as well!

Every year, Indian real estate market witnesses a boom during the festive season as there is a common belief that buying homes during this time is auspicious. Numerous developers target the festive sentiments of buyers with attractive offers to fuel the demand,  making it an opportunity each year for driving sales.

Some buyers easily get carried away by attractive sounding offers or misleading claims, which later turns out to be a wrong decision. However, this year there are not many attractive offers as compared to the previous years due to COVID-19 outbreak and the realty market has been tepid. Tier-II and Tier-III cities have outperformed than expected even after the negative effects of COVID-19 on the economy.

In order to get the right home in a hassle-free manner, Modi Builders, counted among the top builders in Hyderabad, shares a few important things to keep in mind:

RERA Compliance and approval from authorities

Out of many factors, residential projects’ RERA compliance is necessary with other local laws and unforeseen circumstances.  It was implemented to benefit buyers with timely delivery of the project and ensuring transparency. For instance, a person planning to own a residence can consider RERA registered and HMDA approved projects by Modi Builders like Sterling Heights, Elegance and more. One must ensure that the projects are also approved by HMDA and GHMC. This year, buyers could take advantage of high supply and healthy competition as well.

Financing rates

Home loans are offered at low rates by different institutions after RBI’s recommendation for slashing rates to overcome the negative undercurrents of the economy. It is always suggested to consult a legal expert for understanding the terms and conditions.

Statutory payment waiver

Cash discounts and gold coins may be attractive, but there are numerous developers who offer waivers of statutory payments like GST or stamp duty. Many builders offer to bear the cost of statutory payments in regard to the property, a buyer avails the benefits and prefers to do away with the transaction and other related costs.

Investment in real estate is a long-term decision and should never be hasty or emotional  but a well-thought-out one.