Advancement of technology has made our lifestyle convenient in many ways. One such example is the ease of buying our desired property online. Online portals with an ever increasing list of properties for sale have made it easy for the buyer to make their choice. This trend is on the rise in India and one of the biggest advantages is the absence of brokers who charge exorbitant prices for their service.
Online property buying has no doubt made it easy for buyers to purchase a property of their choice sitting at home. However, the fact that it involves a certain amount of risk cannot be ignored. Buying a property is a big investment and due to the uncertain real estate market making a choice becomes increasingly difficult. Thus, the entire process usually involves a lot of research, consultation with experts, financial planning and a whole lot of thinking.
The growing popularity of online property buying can be attributed to a number of factors including government schemes aiding the real estate market and the country’s growing interest in e-commerce.
“Scale and growth of businesses like (online retailer) Flipkart are a proxy that consumers in India are comfortable doing transactions on the Internet,” said Mukul Singhal, principal at India-China fund SAIF Partners, which has invested $10 million in Proptiger.
If you are interested in buying property online here are some things you must keep in mind:
Opt for Reputed Developers
While searching for a property online, you must make sure that you trust renowned and authentic developers who have already delivered successful projects. They are careful about the quality and timely completion of their projects as they would not want to risk their goodwill. Developers usually listed on the stock exchange are mandated to meet transparency standards and can, therefore, be trusted.
When booking a property after meeting a real estate developer personally you can get enough idea to help you take a calculated risk. Hence, you can opt for new builders as well. Such a risk is however not advisable when booking a property online as you cannot be sure of their authenticity. Therefore, you should go for a reputed builder only when booking a property online.
Do not believe all that you see
One very important point we should always keep in mind is that the area mentioned in most of the advertisements are usually super built-up area but the area you actually get is the carpet area which is up to 30% lesser. It is better if you check out the actual details from the dealer. If you are booking the property offline you are able to check it at that moment and clear your confusion.
Go through the Online Reviews
When buying a product online we often check the reviews posted by other who have already have had an experience of buying and using it. The same rule can apply when booking a property online. There are various townships across the city. For example, if you are booking a property in a township in Uttarpara, you can check various forum and reviews of people who have also either purchased a property under that particular builder. It is also vital that you thoroughly go through all the legal documents and consult with friends and family before making the deal. An expert opinion can sometimes help you avoid a fraud deal.
These are some tips to help you make a worthy investment in the property market. A useful suggestion is that when planning to book a property online try to visit the site yourself and talk to the people already living there are around the neighborhood. It will give you a fair idea of the pros and cons of the property while helping you make the correct decision.