In such uncertain times, when any real estate company could go bust one must live with caution. Here is a checklist:1) Stick to reputed builders
2) Opt for developed properties rather than ‘to be developed’
3) In case of latter, check the number of properties that are currently incomplete
4) Several ‘to be developed’ structures do not have proper documents and/or clearance
5) Don’t bite the ‘freebies’ bait
6) Ask for penalty clause in case of delays: Developers are providing fancy timelines of project completion in 2 years or less
Townships don’t develop in 2-3 years
7) Ask for cancellation policy
8) Ask for re-sale policy
8) Stick to prime areas
9) Rates of ‘next-best’ options will fall faster
10) Go for homes which you can afford over your earning career
11) Bargain, bargain, bargain – remember the builder needs your money
12) Stick to city limits
13) Go for fixed interest loans (if your banks agree to provide you)
14) Get a term insurance for yourself (or the home loan will become a liability in case something goes wrong with you).
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15) Please, add your points in the comments!
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