If you are looking for an apartment, it is important to visit the apartment site not just once but as many times as possible. Nothing beats a face-to-face encounter, especially when planning to buy your dream home. We will walk through:
- certain parameters to be kept in mind while buying an apartment
- What to have in a site visit checklist
- Important questions to ask your builder
We will help you understand the importance of site visits in this blog. So let’s dive into the topic.
The importance of site visits before buying a property is exponentially growing in metropolitan cities. Visiting the site is essential to assure land ownership and other related factors. Even before the process begins, the interested audience sublimely starts collecting the information regarding their dream properties. It is not easy to part with so much money, so it is critical to understand what you are purchasing and what you are receiving. The process includes checking the progress of construction and other deviations from the original plan.
In real estate, a site visit refers to the physical inspection or a tour of the property by the interested parties to observe the environment, facilities, and amenities. It is the most effective way to ensure that the property you intend to invest in is free of encumbrances and other legal entanglements. Before making a purchase, you must thoroughly examine all documents, beginning with the title deed to the site property and ending with the property tax receipt.
What To Look For While Buying An Apartment in Chennai?
You must be pondering several questions while buying an apartment in Chennai. However, we will enlist several things to keep in mind while purchasing a property. When buying a property, many people think of location, price, and other factors. Undoubtedly, they are one of the crucial factors to be considered. However, we will enlist certain other pivotal parameters to be kept in mind.
– A sales deed is a core registered document you need to verify before buying a property. We suggest you read the terms and conditions of the sales deed thoroughly before signing it.
– Building plan document – One of the important documents required for homebuyers when buying an apartment in Chennai. It is always good to check if the respective authorities approve the building plan with the appropriate layout.
– No Objection Certificate– You should get an additional copy of the following: copies of the urban land ceiling NOC, environment NOC, and NOCs from the electricity and water authority.
– Encumbrance certificate– An encumbrance certificate is to certify that the property is free from all the dues regarding mortgages or any other payment. To avail of a loan, an encumbrance certificate is of utmost importance and will guarantee that the property does not hold monetary withholdings.
– Check the builder’s credential – It is vital to have a general verification of the builder and have valuable insights on their past and current projects, which gives you a bird’s eye view regarding the process.
Importance Of Site Visits Before Buying An Apartment:
Let us explore several pointers that highlight the importance of site visits before buying a property, which are as follows:
1. Tracking the site progress
Going for a site visit helps to track the site progress simultaneously. Keeping a systematic record of the construction progress or activities and the events occurring on the site is vital. It is essential because it can be used as official documentation in disputes.
Pro tip: Although things may get overlooked, having a proper record will help you share your interests or opinions with the builder and keep track of the activities on site.
2. Validating the amenities
One of the main reasons for going for a site visit is to understand several amenities and infrastructure facilities offered. Projects of every kind offer several top-notch amenities like indoor games, outdoor game facilities, health centres, gyms, community halls, swimming pools, playing areas and many more.
Pro tip: Check out what is or will be built along the project’s immediate boundary to get a sense of your future neighbourhood.
3. Understand the quality cost and maintenance
Site visits will offer real-time insights on the maintenance cost if the project provides top amenities, including special upkeep needs. It also helps to understand and get a fair idea regarding the construction quality.
Pro tip: Inquire about the total cost of the unit you want (including PLC, floor rise, parking, possession charges, maintenance fees, Khata, Electricity/Water charges, GST, and so on). Also, look into the flexible payment schemes.
4. Monitoring adherence to plan and schedule
It is critical to keep track of the brand name of the fittings and electrical equipment used. In case of contingencies or disputes, it is essential to track and maintain a systematic record of several documents and plan layouts.
Pro tip: Get to know the exact apartment size. The importance of a site visit is that it will give a fair idea regarding how much built-up area you would get for your home and other details like the carpet area.
5. Watch over the infrastructural facilities and locality
Factors such as metro rail connectivity and proximity to educational and health care organisations are extremely important in Chennai. You can ensure that the property is strategically located by visiting it.
Pro tip: Present and future connectivity and social amenities play a significant role. The impact on the future value of the property, and impact return on investment tremendously.
6. Banks financing the project
It is vital to understand the legalities of banks funding the process and get all the necessary approvals. Once you have decided on the luxurious abode in which you are about to buy your home, check all the required details and permissions.
Pro tip: To ascertain the legality of the construction, it is vital to understand all the legal documentation with the financial institution has been undertaken systematically and to understand several rights of land ownership.
What is the essential site visit checklist while going for a site visit?
- Carry a notebook- It is helpful if you have these beforehand to schedule a site visit. It will help in noting down all the essential observations. You can capture pictures of the sites, and carrying a phone will also help you capture video.
- Site map or plan- You can preferably carry some copies to make observations on them and enlist important features.
- Tape measure- They are helpful and handy for measuring the location’s proximity.
- Have a list of things you need to see during the site inspection. Check for the designated parking lots in the properties, square footage of each room type, decor and location.
Remember, attention to every detail creates a flawless event!
What are the top questions you should ask your builder during site visit?
Here we enlist several questions for all property enthusiasts, which raise and address critical questions to ask your builder before buying a property in Chennai.
1. How much will the duration be for the completion of the project and handover?
It is vital to understand and be well informed before the process. The completion to be prepared with a pre-possession checklist, especially when choosing the property builder and your dream home.
2. Can you give me a clear break-up of the apartment’s common and built-up floor area?
As a homebuyer, you should understand the distinction between common and built-up areas. The latter will give you a clear idea of the size of your house with the exterior walls. Regardless of RERA’s implementation, it’s always a good idea to clarify this.
3. Is the undivided share of land clause present in the copy of the agreement?
If the undivided share of land clause is not included in the final copy of the agreement, you should question your builder about it. When the ratio of the undivided share of land varies between documents, you should verify it before signing.
4. What facilities and amenities are you getting?
It is a good idea to verify if you are getting all the promised amenities and infrastructural facilities on the property. A site visit will help you determine this and gain valuable insights into the social amenities available in your locality.
5. Are the legal documents made available?
It is necessary to obtain the legal documents mentioned in the above section before availing of the property. It is vital to get the ownership rights without any hassle in case of registration or any other legality.
Invest in an apartment with Tulive!
Tulive is a part of GK Shetty, Chennai’s renowned construction firm responsible for a diverse range of commercial, residential, and hospitality projects throughout the city. Tulive is emerging as a leading construction company, with projects in prime residential areas of Chennai, leveraging its parent company’s 60 years of experience in the field. They have gated community projects across prime locations in the city like,Porur, Mandaveli, Anna Nagar and the most recent being Tulive BelleVue.
The real estate company has been established and built strongly on the following factors:
- CMDA & RERA approved real estate
- Top-notch amenities
- Dedicated customer support
- Projects in prime locations that enhance the opulent lifestyle
We hope the above-listed pointers gave you a fair idea of the importance of site visits. If you are looking to buy a flat in Chennai, Tulive is known for its high-quality construction and timely delivery, apart from its excellent after-sales service. The apartment also provides irresistible amenities that will enhance your lifestyle. A double-height lobby, landscaped seating area, gym, party hall, open-air kids’ play area, and other amenities are available. For more details, visit our website. If you’ve been for site visits, please share your experience with us in the comment section below.