Kolkata is a city that is nothing short of a treasure trove of culture and heritage. While there are still traits of its old-world character, it is currently defined by rapid economic growth and development. It has also been able to draw a significant amount of attention, thanks to reputed educational institutions amidst a well-developed transportation system.
For those seeking to buy residential property in Kolkata, there are ample reasons to choose Kolkata. However, a new home does not rest on the general outlook of a region. You need to dig deeper and have a well-rounded approach. You need to be fully aware of what you are getting into. After all, the expenses that come with a new home are no trivial matter.
It’s better to do your homework in the early stages rather than regret your decision over a period of time. That being said, here is a checklist of the vital things to look out for. Be it luxury or low budget residential apartments, this list encompasses all types of projects.
Here are the things you need to check.
Location:
This is one part of the home-buying process that needs utmost importance. It is said that when you buy a residential property in Kolkata, you also ‘buy’ the features around it. Homes are bought with a long-term goal in mind and in a direct sense, everything around the vicinity becomes a part of your daily life for a long period of time. Thus, here are the major details of a location you need to inquire about:
● Are there schools, hospitals, restaurants, etc. in the vicinity?
● Are convenience stores and markets within walking distance?
● Are there any safety or security risks linked to the neighborhood?
● Are there parks, playgrounds, greenery, etc. nearby?
Connectivity:
Another crucial element of a home is its ability to foster easy commute. Just as educational and occupational needs are unavoidable, so is the need for a good network of transportation. This has a direct impact on the quality of life and is an element that needs to be prioritized.
For instance, New Kolkata Prayag provides 4-way connectivity via rail, road, river and an upcoming metro facility nearby. This is sure to be enticing for home-buyers in the city.
HIRA number:
The introduction of HIRA or the West Bengal Housing Industry Regulatory Act has improved business transaction and fair play among real estate builders. This is a regulatory body that lays down guidelines and solves disputes related to real estate. At the same time, this body was established to protect the interest of those seeking to buy a residential property in Kolkata. A HIRA number, hence, acts as a symbol of credibility associated with a builder.
For those seeking to buy residential property in Kolkata, there are ample reasons to choose Kolkata. However, a new home does not rest on the general outlook of a region. You need to dig deeper and have a well-rounded approach. You need to be fully aware of what you are getting into. After all, the expenses that come with a new home are no trivial matter.
It’s better to do your homework in the early stages rather than regret your decision over a period of time. That being said, here is a checklist of the vital things to look out for. Be it luxury or low budget residential apartments, this list encompasses all types of projects.
Here are the things you need to check.
Important Things to Keep in Mind Before Your Final Purchase
This is one part of the home-buying process that needs utmost importance. It is said that when you buy a residential property in Kolkata, you also ‘buy’ the features around it. Homes are bought with a long-term goal in mind and in a direct sense, everything around the vicinity becomes a part of your daily life for a long period of time. Thus, here are the major details of a location you need to inquire about:
● Are there schools, hospitals, restaurants, etc. in the vicinity?
● Are convenience stores and markets within walking distance?
● Are there any safety or security risks linked to the neighborhood?
● Are there parks, playgrounds, greenery, etc. nearby?
Connectivity:
Another crucial element of a home is its ability to foster easy commute. Just as educational and occupational needs are unavoidable, so is the need for a good network of transportation. This has a direct impact on the quality of life and is an element that needs to be prioritized.
For instance, New Kolkata Prayag provides 4-way connectivity via rail, road, river and an upcoming metro facility nearby. This is sure to be enticing for home-buyers in the city.
HIRA number:
The introduction of HIRA or the West Bengal Housing Industry Regulatory Act has improved business transaction and fair play among real estate builders. This is a regulatory body that lays down guidelines and solves disputes related to real estate. At the same time, this body was established to protect the interest of those seeking to buy a residential property in Kolkata. A HIRA number, hence, acts as a symbol of credibility associated with a builder.
Legal certification:
When buying luxury residential apartments in the city, don’t be caught in the crossfire between real estate builders and legal procedures and permissions. The laws governing the sale of a flat may vary from place to place. However, it is important to verify property papers and legal documents before going ahead with your purchase. Ensure that your apartment has every necessary approval and permissions. Here are a few documents that are important:
● Sale Deed
● Occupancy Certificate
● Building Plan
● Encumbrance Certificate
● Mutation Certificate
● NOC’s from several bodies
‘Hidden’ charges:
A website may offer an attractive final price or a new discounted price for in bold letters. However, do not think that it ends there. Even if you are interested in low budget flats in Kolkata, there are a few surprising charges that are revealed at a later date. These are not technically hidden (where the builder is trying to fool you). Rather, these are overseen because one has already fixed his/her budget accordingly. Thus, one should be aware of the extra fees they are liable to pay for.
Size of apartments:
The model flat you are shown may not be the same in size later. You need to clarify the size of the living space before making a purchase and moving in. Consider a 4 BHK flat in Flora Fountain in Kolkata. It has a carpet area of 1214 sq. ft., a built-up area of 1412 sq. ft. and a super built-up area of 1882 sq. ft. All three have different implications. However, you should focus on the carpet area because that is the actual size of the apartment you will live in.
Buying a new home is undoubtedly a herculean task. It doesn’t have to be, not if you are informed and conscious of each facet of the home-buying process. Once you give undivided emphasis to each of these factors, the results will speak for themselves. Your home will be a reflection of all the work and effort you have made to reach there.
So, don’t be afraid to do a little research and investigate.
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