Land area of Delhi is 1,484 KM square and the population is about 17 million. The real estate demand is increasing day by day in the NCT (National Capital Territory) of Delhi because urbanization has created multiple job opportunities in Delhi.
House is a building made up of brick, iron and cement for human habitation. It is a dream of every Indian to become an owner of a new home in Delhi but it is not so easy for anyone to invest their hard earned money into this brick and mortar structure. There are various things to be aware of so that you don’t regret it in future.
Family members, neighbors, friends and dealers express their own views and ideas on houses due to which new buyers cannot make a wise decision. In this article, I came up with a checklist of Do’s and Don’ts for buyers to purchase a home of their dreams.
Do’s to Buy a House or Property in Delhi
Delhi is a very densely populated city that offers plots, flats and houses in a wide range from very low budget (JJ Colonies, Unplanned Colonies) houses to high budget (Dwarka, Rohini, South Delhi) houses. I suggest every buyer to purchase a property that he/she can afford easily. Never overshoot your financial limit because it will cause an extra burden on your pocket. Always be aware of the hidden/additional charges while purchasing ready to live flats or apartments.
Location is one of the most important factors. You can live with almost any imperfection in a home if you love the neighborhood. Sit on a table and discuss with all family members about the location of your new home. You should listen to the views of each family member carefully. After that, analyze these views, and explore the drawbacks and positives of staying in the shortlisted locality to reach a final decision.
Delhi is the migration hub of India. People of different religions, languages, culture and backgrounds come here from all corners of the country to earn money. Lifestyle means the way in which a person lives. Every family has a different lifestyle so please ensure that your lifestyle matches with the lifestyle of the locality that you are shortlisting so that you can easily share and enjoy your interests, opinions and culture.
Although basic infrastructure is good but border areas still face power cuts, water shortage in summer season, poor condition of roads and bad transport facility. Please, ensure that the locality in which you are planning to buy a house have uninterrupted drinking water facility, electricity facility, ample parking space and a good public transport facility of DTC buses and Delhi Metro within a radius of 1KM so that you can reach your house without any worry from other city areas. The roads of that area should be in good condition and must have sufficient parking capacity with good sidewalks.
Don’t impress just by the look of the house. Contact a structural engineer to analyze the quality of material like brick, iron roads, cement etc. used to make the house.
Delhi major population prefers 2BHK and 3 BHK so always tries to buy these sizes that always remains in demand so that you will get a good resale value later. Small size plots always remain in huge demands than larger ones among the migrant population.
Check for the registration of the real estate developer. Always try to buy a flat, apartment or villa in a RERA registered project in Delhi. RERA stands for Real Estate Regulatory Authority which came into existence as per the Real Estate Regulation and Development Act, 2016 to protect the home purchasers from late possession, property frauds and provide fast relief to the buyers by quick dispute redress.
Although social infrastructure of Delhi is well built but border areas of Delhi and rural areas still face social infrastructure problems. Before buying a property, pay attention to details like how far are the nearby schools, educational institutions, hospitals, police stations, shopping center, fire stations, parks and playgrounds and how easily we get access to these locations. It is very difficult in Delhi city to find such a locality because a huge population lives in slum areas.
Don’ts of Buying a House (or Property) in Delhi
- Never buy a house from an unregistered real estate developer. First check the reputation of the builder and their track record in terms of delivery.
- Don’t buy a home without checking its loan eligibility.
- Don’t buy illegal property that does not follow all government rules. Always purchase a clear land title so that you can easily qualify for a home loan in future.
- Don’t overextend your budget because it will disturb your family life by causing financial stress and strain.
- Don’t go after discounts because a builder offering you a higher discount may not be able to deliver quality construction or amenities.
- Avoid purchasing a resale house because repair charges depending on the age of property are higher in resale homes and it will take a big chunk of your budget.
- Don’t ignore the future requirements of the family because home purchasing is a lifetime event and the requirements will grow as the family grows.
The search for a new home always starts with questions like how to find the right property and builder, how much price we can afford and how to secure the finance to pay for a new house. While buying a house one must take enough time to verify all these aspects in detail before making a purchase decision.
Though Delhi doesn’t have as much slums as in Mumbai but the city surely has unplanned and unapproved colonies where most of the citizens live. Best areas to buy a house in Delhi are Rohini, Dwarka, Punjabi Bagh, Kirti Nagar DLF Flats, Saraswati Vihar, Shalimar Bagh, Parshant Vihar, R.K Puram, Mayur Vihar, New Delhi Area and South Delhi. Avoid buying a house in border areas and rural areas of Delhi because there is always a noise from neighbors, agricultural machineries and pets.