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10 Questions to Ask Before Signing on the Dotted Line for Your New Home

Author: Ayathi Info
by Ayathi Info
Posted: Oct 28, 2024

You’ve found what could be your dream home!

But, before you rush to put pen to paper, a series of crucial questions will help you make an informed and financially sound decision. Whether you’re looking at upcoming projects in Kollur or exploring real estate in Hyderabad, these questions are essential to ensure that you’re not just buying a house — you’re securing your future.

1. What is the Location’s Long-term Potential?

While you might love the area now, it’s vital to assess the long-term value of your new home’s location. In Hyderabad, growth corridors like Kollur have seen significant real estate development due to their proximity to the Outer Ring Road (ORR) and IT hubs like Gachibowli. Ask about future infrastructure projects — such as new metro lines, commercial hubs, or educational institutions — that could add to the location’s appreciation over the next few years.

Stat: Hyderabad is expected to see property value appreciation rates between 5–10% annually, especially in fast-growing areas like Kollur.

2. Is the Builder Reputable and Reliable?

Choosing a reputable developer is crucial in Hyderabad’s growing real estate market. Many buyers have faced delayed projects and subpar construction. Always research the builder’s track record, visit previous projects, and check for any disputes or delays in their completed developments. For example, many new upcoming projects in Kollur are being developed by established firms with a solid reputation, but not all builders operate at the same standard.

Fact: The Real Estate Regulatory Authority (RERA), established in 2016, ensures greater accountability from builders. Check the builder’s RERA registration for any new home.

3. What Legal Approvals Are in Place?

A common pitfall in Indian real estate is the lack of proper legal approvals, which could lead to delays or complications. Ensure that the project has a clear land title and is free from any encumbrances. Also, ask about the project’s approval by local authorities like HMDA (Hyderabad Metropolitan Development Authority) or GHMC (Greater Hyderabad Municipal Corporation).

Tip: Ask for a copy of the RERA registration, land documents, and building plans to verify all approvals.

4. What is the Payment Structure?

Real estate in Hyderabad, especially luxury projects in areas like Kollur, often comes with payment flexibility. However, it’s important to understand the complete payment structure. Builders might ask for payments at various stages of construction, or offer ‘no EMI till possession’ schemes. Evaluate whether the proposed schedule fits your financial plans.

Fact: In some upcoming projects in Kollur, buyers can save on pre-construction interest through flexible payment schemes. Ask the builder if such options are available.

5. What’s Included in the Price?

The final cost of your new home might include more than the basic construction cost. Always ask if the quoted price includes amenities, parking, club membership, and registration fees. Some builders might offer ‘all-inclusive’ pricing while others have add-ons that could significantly increase the total cost.

Tip: When buying in a growing real estate market like Hyderabad, make sure to account for hidden charges like GST, maintenance deposits, and stamp duty (which can be around 6–8%).

6. What Amenities Are Offered?

Modern buyers expect their new home to come with a range of amenities, from fitness centers to landscaped gardens. In upcoming gated communities, such as those in Kollur, it’s common to find state-of-the-art clubhouses, sports facilities, and green spaces. These amenities contribute to both lifestyle enhancement and future resale value.

Stat: A property with amenities like a gym, swimming pool, and jogging track is reported to have a 12–15% higher resale value than those without in cities like Hyderabad.

7. How Future-Proof is the Property?

Technology and sustainable living are becoming non-negotiables in new home purchases. Check if the project offers features like rainwater harvesting, solar energy systems, and home automation. Additionally, ensure that the building is Vaastu compliant, as this can significantly impact both your comfort and resale prospects.

Fact: Green buildings see 20–30% higher energy savings over their lifespan, making them a wise choice in Hyderabad’s competitive market.

8. What’s the Quality of Construction?

Understanding the quality of materials and construction is essential for your home’s longevity. Ask about the type of materials used, the earthquake resistance of the structure, and the overall durability. Visiting a sample flat or completed phase will give you a firsthand look at the construction standards.

Tip: In Hyderabad, many top builders are using advanced construction techniques like Mivan shuttering for enhanced structural stability.

9. What’s the Potential for Appreciation?

Hyderabad’s real estate market is growing at a steady pace, but not all areas appreciate equally. Kollur, for instance, is poised to be one of the top locations for growth due to its strategic position near IT hubs and schools. Before signing on the dotted line, ask about the area’s potential appreciation in the next 5–10 years.

Fact: Properties in Kollur have appreciated by around 8–12% annually over the past few years, making it a promising area for both living and investment.

10. Are There Hidden Costs?

Buying a home in India can often come with hidden costs like parking, maintenance, and club memberships. Clarify what’s included in the final cost, and make sure there are no surprise fees after possession. Some builders might also levy charges for home alterations or upgrades.

Why Ayathi?

At Ayathi, we believe that your home should be more than just four walls — it should be your sanctuary. Our upcoming projects in Kollur, are designed with luxury, comfort, and sustainability in mind. With 50% open spaces, top-notch amenities, and a focus on green living, Ayathi homes offer everything you need for a peaceful yet modern lifestyle.

Looking to invest in a new home in Kollur? Visit Ayathi and explore why our properties are the perfect fit for your next chapter.

By asking the right questions, you can ensure that your new home not only meets your current needs but also secures your future.

Ready to sign on the dotted line?

About the Author

In the pursuit of a sustainable future, the concept of sustainable luxury living has emerged as a beacon of responsible living.

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Author: Ayathi Info

Ayathi Info

Member since: Aug 16, 2024
Published articles: 32

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