10 Things to Check before Buying an Apartment in Calicut

 

Buying apartments in Calicut is one of the best investments you can make for numerous reasons: owning a property in Kerala is a matter of pride; there is always an appreciation value for the property as the available land is not expanding; apartments in Kozhikode can be sold, leased out, or rented and you can get huge returns on your investment.

If you’re thinking of buying an apartment for sale in Calicut here are certain things you need to consider:

Title Deed

Always check the title deed and make sure it’s clear – that the seller is the legal owner of the complete property, and that it has not been sold or mortgaged. It would be sensible to have a lawyer go through all the documents to assess this. If you’re thinking of purchasing Calicut apartments or villa, assess if the builder occupies the land, or merely the development rights.

Land Use Zone

Confirm that the land you are purchasing has been zoned for the objective you have in mind; for example, if you are buying a property in Kerala for constructing a commercial space, first ensure that that specific land has been zoned as commercial.

Licenses 

You must review all the paperwork when you look for apartments for sale in Calicut. Check if the project has received authorization from the related civic authorities. Also review if the builder has attained other necessary approvals like commencement clearance, environmental clearance, and so on.

Encumbrance & Release Certificate

If the property you’re purchasing is an apartment for sale, check if it is mortgaged with a bank. If it was approved, ensure that the loan has been reimbursed and collect the release certificate to be safe. Inquire for an Encumbrance certificate to be sure that there are no formal holds on the property.

Fair Value

Whenever you buy a land or house in Kerala, always enquire about the ‘fair value’ that is set by the Government. The actual market value will be different from this; still, you will be in a better position to deal with the sale price when you have this information.

Location Accessibility 

Whenever you’re buying an apartment or a piece of land, check how good access the place has – that is whether the property is located on the main road, or in a lane? Can vehicles easily reach there? Whether you’re planning to build a residential or commercial space, vehicular access is essential. Ample parking space facility is also a major consideration.

The Site

You also need to check for the availability of drinking water on the site, and the locality of the property. Make sure the neighborhood is good and safe and that you have educational facilities, shops, and healthcare facilities nearby, and that you have access to highways or main roads and public transport. Also check if there are institutions that can cause discomforts, like industries radiating hazardous smoke or leftovers, noisy equipment, and so on.

Research about the Builder

Not all builders are above the level. Do proper background checks to assure that no formal proceedings are pending about the villa or apartment you are planning to buy? You can ask nearby, inspect online, and even enquire with clients about the builder’s previous projects.

Check Your Finances

Do you have the sufficient amount to buy the land or property you have shortlisted? If not, you will need to avail a loan. Check out loan offers from various financial institutions and select the EMIs. Check out the terms and conditions of repayment, non-payment, and all the documents before you finalize and apply for the loan.

Updated Construction Status Report

If you’re buying an under-construction residential space or house, enquire when you will get ownership and when will it be ready to occupy. Check that the builder has enough amount to complete the project on time. If you have an unexpected requirement, you may be better off buying an apartment or house for resale.

Every individual has a dream home in their mind.  So it necessary to acquire your dream home without any burdens. Whenever you a buying an apartment for sale in Calicut make sure to check all the details and documents are precise and valid. We are the best builders in Calicut that offer apartments in Kozhikode by all government and real estate laws.