10 Things To Consider Before Buying A Home In Jaipur

Jaipur is a growing city that is evolving at an exponential rate, including more areas in its boundaries, bringing new businesses to set up camp, and introducing new, innovative ways of living to the public. It is a great city to settle down in and live a peaceful life. So, if you have your mind made up about investing in the city’s real estate, there are a few things you must know before you settle on a Jaipur property as your forever home.

These are normal compliance standards and legal checks for a that can help you make the right decision for your real estate investment. Only when you find some satisfaction through this checklist for property purchase should you move forward with actually buying the property. Let’s take a look at the 10 things you must consider before buying a home in Jaipur.

What To Consider Before Buying A Home In Jaipur?

1. Location

   The first and foremost requirement that you need to consider is the location of the property. Your location not only defines the ease and comfort you will have while living there but also determines the return on your investment and the rental value, shall you choose to use your Jaipur project for that purpose. The neighbourhood matters a lot.

2. Who Is The Provider?

   In Jaipur, there are 4 ways that you can come into the possession of a property. 1.) The local body allotted you the property or you buy from them directly in an auction, 2.) You can buy the property from a person who has the lease deed from the local body, 3.) You can buy from the housing society, or 4.) Buying from a person who was originally allotted the property from the housing society. Determining who you are buying from is important as that changes the steps involved in the transfer of ownership and title of the property.

3. Section 42 of the Rajasthan Tenancy Act, 1955

   It is important that you check the applicability of the Rajasthan Tenancy Act, 1955 on the property you are purchasing. Section 42 of the act makes the transaction for the land between the housing society and the Khatedaars completely void as the land you are trying to purchase right now was originally meant for agricultural purposes and was allotted to an individual from an SC/ST background. If you find something like this in your legal checks for the property, immediately pull back from the property.

4. What Is Your Goal With The Property?

   Everyone has a goal in mind when they are purchasing property, which is why you must ask yourself ‘what is the goal I have with this property?”. Do you wish to settle here, is this a real estate investment for you, or do you wish to earn a rental income from this property? The answer to these questions will help you choose the right property fit for your purpose.

5. What is Your Budget?

   Real estate investments need you to be very calculative with your budget. You don’t want to go overboard and pay more than what you can afford for a house. While the option for a loan is always open for you, it is important to remember that you must be prepared to pay the loan off in the future. Whatever your budget is, remember that you will need funds to pay for costs outside of the property price as well.

6. What Facilities Are Available

   The facilities and amenities that surround your home also determine the value of your property, while also adding a new level of comfort to your living experience. They are an essential factor in real estate, especially after the pandemic. You need the basic amenities including water, electricity, and sanitation, in addition to connectivity, education, work, and shops. Do not fall prey to properties that are inexpensive but have no facilities nearby. On top of all this, the additional amenities are value-added services that make your life easy.

7. Look at The Legal Documents

   Run all Legal checks for property to ensure that there is nothing hidden from view, like an unpaid property tax, or an ongoing loan, of the absence of necessary approvals for the property. These checks are to save your real estate investment and interests from anything fishy or a scam that can hurt them both financially. Ask to see the original documents upfront and get them verified before the purchase from a competent authority.

8. Is The Property Re-sold?

   Check if the property has been resold to you. If the property is already allotted to someone else or sold to a different party, it cannot be transferred to you. Save yourself the trouble and the potential scam by being proactive.

9. Reviews

   The reviews, whether through word of mouth or online, matter a lot. They can save you from what you think is a profitable investment but is essentially a loss in the future. Talk to people living in the area or who have bought a property similar to yours. Check online for any discussions or conversations about the location and society.

10. Community

    The community in an area defines your living experience. These are the people you will be living with, which is why it is important to make sure that the community you live in cultivates the right values and lives together without issues. They build the place to be a thriving group of people who live together.

Buying a property in Jaipur is a profitable investment, yes! However, you need to be really thorough when it comes to considering the right points before buying a property. If you are looking to Buy property in Jaipur, then KGK Realty is your one-stop solution for all your real estate needs. Get in touch with one of our experts today to understand your options of investment in Jaipur property.