Hyderabad Real Estate Guide: Important Points for Safe Property Investments
To avoid such issues, it is essential to fully understand the details of any property being purchased. Key factors to check include necessary permissions, the builder’s history, and the timely completion of previous projects.
Hyderabad: The real estate sector has seen a surge in companies offering properties for sale. In Hyderabad’s metropolitan area, particularly beyond the Outer Ring Road, the buying and selling of land, homes, and plots have significantly increased. People are actively investing in residential layouts, apartment flats, villas, and commercial spaces.
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However, with the increase in opportunities, there’s also been a rise in cases where buyers fall victim to scams due to a lack of research. To avoid such issues, it is essential to fully understand the details of any property being purchased. Key factors to check include necessary permissions, the builder’s history, and the timely completion of previous projects. With adequate precautions before buying, you can prevent potential problems later on.
Important Checks Before Buying Property
| Key Point | Details |
|---|---|
| RERA Registration | Ensure the property is registered with RERA. This confirms permissions from relevant authorities. |
| Builder’s Reputation | Review the builder’s past projects, client reviews, and online ratings. |
| Project Completion Ability | Confirm that the company can complete the project as promised. |
| Legal Compliance | Check if the land is free from encumbrances and registered legally. |
| Surrounding Land Status | Avoid buying near government lands, lakes, and ponds to prevent legal issues. |
RERA Registration is a Must
When purchasing property, it is crucial to verify if it is registered with the Real Estate Regulatory Authority (RERA). A RERA registration number signifies that the property has received necessary approvals from local authorities and relevant departments. The government repeatedly advises against buying unregistered properties to avoid legal complications.
Builder’s History and Reputation
Delays in project completion, incomplete construction, and inadequate provision of basic facilities are frequent issues buyers face. In this context, it’s essential to research the builder’s background. Gather feedback from people who have already bought in previous projects, check online ratings, and then make an informed decision.
Assess the Company’s Project Capacity
Investing in residential layouts, apartments, or villas, ensures that the company has the resources and capacity to complete the project. Some companies accept bookings but delay starting construction for years, leading to numerous complaints with RERA.
Legal Compliance and Surrounding Land Status
Hyderabad currently faces concerns regarding illegal construction. Thus, special attention should be given to projects near lakes, ponds, or government-owned lands. Some developers use private land survey numbers to claim government-owned lands or water bodies for their layouts, making it essential to verify all aspects beforehand.
By keeping these key points in mind, you can make informed and secure real estate purchases in Hyderabad.
