5 Things You Should Know Before Buying Property in Lucknow
Lucknow is the capital city of Uttar Pradesh. It has established itself as the first choice for those investing in property due to infrastructural growth and investment opportunities. Whether you want to purchase an apartment to live in or as an investment, here are five essential things to know before you make the purchase.
- Choose the Right Location
There are many areas here, which are developing rapidly – Gomti Nagar, Shaheed Path, Sushant Golf City, and Amar Shaheed Path. Select an area based on connectivity, good infrastructures, the proximity of good schools and hospitals, and business hubs. Those places close to the soon-to-be opened metro stations and highways would appreciate more.
- Legal Approvals and RERA Registration
It should be an LDA-approved development and should be registered with the Real Estate Regulatory Authority, RERA. RERA is a guarantee for safety by the buyer’s side. They save it from cheating and completion delay. Validate land titles, project approvals, and permissions
- Developer Repute and Project History
Research track record of the builder or developer. Online reviews, past project deliveries, disputes regarding delay or quality. Some reputed developers like Ansal, Omaxe, Eldeco, and Paarth offer projects with higher reliability and resale value.
- Future Development & Infrastructure Growth
Lucknow is booming with Outer Ring Road, IT City, and Smart City projects. Always, the areas that are planned for infrastructural growth in the coming years are a better option to appreciate the value of the property over time. Check the availability of upcoming metro connectivity, expressways, and commercial hubs before finalizing. 5. Pricing, Loan Options & Hidden Costs
You could compare all the property prices in different places, find out the extras that may amount to a small fortune as in maintenance costs, GST charges on it, regn. charge, stamp charges etc. In taking home loan or otherwise, proper comparison of every interest rate present in the markets should be drawn to get an affordable deal.
