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Is it the right price for the property? Perhaps this is the question that keeps on creeping in people's mind ever since they make up mind to buy or sell a property. it is quite necessary to spot the right price for making a successful real estate transaction but it is some how difficult . Neither any thumb rule nor a scientific technique is there to help!
Prices quoted by government agencies like district administration are not in consonance with the market dynamics and therefore does not represent the actual situation. Unfortunately, there is no such procedure for property evaluation in India that developers or real estate agents adopt to derive the current value of a property in the market.
So, how to get a good deal! people are advised to believe their own instinct but cautiously. There might be a case of paying through nose if somebody treats this as a trial and error game. Here are some important parameters that everyone should always bear in mind to reach the decent levels of property-valuation and deal.
Location of the property: Value depends on the profile of the location where the property is situated. Market value of an apartment or an independent house located at a residential area near the busy market place or office area is definitely more than the segregated ones. The same theory applies to the properties commercial locations.
Availability of basic amenities: Not to mention, green surroundings, civic amenities like safe drinking water, uninterrupted power supply and systematic drainage system are the first preferences of the buyer.
Infrastructure of the location: Good quality roads around and within the society add value to the property.
Safety and Security concerns: People avoid locations that are closer or are known as riot prone area or communally polarized. Sharp declines in the prices are witnessed in areas if incidents of robberies, riot burglary or theft are reported within short spans of time.
Connectivity aspect: Connectivity with bus depot, railway station and airport is equally important from buyer's point of view. In fact, property in vicinity to these facilities makes sound investment proposition.
Quality Matters: As valuation of property is a process, all the above discussed factors go hand in hand with perception of quality.
Category: Real EstateThings That Make Property A Hot Cake was written by:Author:Addi VardhamanAdded: Tue, 01 Apr 2008 04:52:22 -0400 This Article Has Been Read 204 times View all Addi Vardhaman's articlesAbout the Author: For more information about loans and personal loans in India. Please visit our website: http://www.paisawaisa.com/ |
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