10 Important Things that You Should Check Before Purchasing a Flat in Kolkata

Are you planning to buy a flat in Kolkata but unsure where to start? Worried about making the right investment? You’re not alone. Many homebuyers face the same dilemma. To help you navigate this important decision, we’ve identified the 10 crucial factors you must check before buying a house in Kolkata. From verifying legal clearances and amenities to assessing the location and developer’s reputation, our guide will ensure you’re well-prepared. Read on to make a smart and confident choice for your new home.

There are many viable options for buyers of flats in Kolkata, with good properties available at all price points. However, buying a house in Kolkata can be a time-consuming process, and there are many things to consider before signing on the dotted line. Here’s how you can get started:

10 Things to Check Before Buying a New Flat in Kolkata

Identify Your Requirements

When searching for a flat for sale in Kolkata, it’s crucial to ensure the residential project aligns with your and your family’s needs. Begin by drafting a list of requirements categorized into three sections: must-haves, important features, and nice-to-haves. Although this might seem straightforward, it is often overlooked. With a clear list, the selection process becomes much more efficient. For instance, evaluate factors such as the commute to work, availability of public transport, and the closeness of essential amenities like hospitals, police stations, banks, schools and local markets when buying a house in Kolkata.

Set Your Buying Budget

Before you start browsing online or visiting properties in person, it’s crucial to establish a clear budget for buying a house in Kolkata. With a wide range of flats for sale in Kolkata, spanning from luxurious to budget-friendly options, there’s something for every preference. Defining your budget will help you focus your search on specific locations and types of flat for sale in Kolkata. Once you have your budget and list of needs prepared, you can efficiently shortlist potential neighborhoods. Kolkata’s vast cityscape can make searching for your dream home feel overwhelming, but with a systematic approach, navigating the market for buying a house becomes more manageable and rewarding.

When buying a house in Kolkata, aside from the crucial price per sq. ft., there are several additional expenses to consider. These include stamp duty, registration fees, parking fees (both covered and open), clubhouse charges, home loan processing fees, brokerage fees, and common area maintenance costs. These additional charges can amount to 7-15% of the total house price, so it’s important to factor them in from the outset of your home search.

Verify Your Builder’s Reputation Before Buying

One of the crucial tips for purchasing home in Kolkata is to check the reputation of the builder you’re interested in. This step is essential to protect yourself from potential scams where builders may disappear after payment. There are many real estate top builders in Kolkata. However, construction quality can vary greatly across different developers. Look into the builder’s history to see how many projects they’ve completed and their overall standing in the market. This research ensures you invest in a property with a reliable builder, giving you confidence throughout your home-buying journey.

Consider the Reputation of Banks and Financial Institutions when Purchasing a Flat in Kolkata:

Established banks and non-banking finance companies conduct thorough audits of real estate projects and builders before providing funding. Opting for projects backed by top-tier banks ensures timely completion and minimal complications. Avoid projects financed by lesser-known investors to ensure clarity regarding possession and handover of the apartment when you finalize your purchase in Kolkata.

Know What You’re Getting when Purchasing Home : Consider the Actual Usable Space

When purchasing an apartment in Kolkata, it’s vital to understand the carpet area—the practical space available inside the walls. This directly impacts your comfort and daily living. Also, keep an eye on the price per square foot, as it influences the overall cost of the flat. Being aware of these factors ensures you make an informed decision when buying property in Kolkata.

Assessing Investment Returns for Apartment Purchases in Kolkata

Investing in flats for sale in Kolkata has proven to be a lucrative option within the city’s residential sector over the past decade. If you’re contemplating property purchase for investment purposes, it’s essential to conduct a thorough evaluation of potential returns. Consider factors such as acquisition costs, current home loan rates, rental yield potential, property taxes, and maintenance expenses. Performing a comprehensive cost-benefit analysis before committing funds ensures a well-informed investment decision when buying an apartment in Kolkata.

Ensuring Legal Clarity and Ownership Verification

Before purchasing a new flat in Kolkata, it’s crucial to verify all legal documents and approvals thoroughly. Ensure the property has obtained all necessary clearances from legal authorities to avoid potential disputes in the future. Additionally, scrutinize the property deeds meticulously to confirm ownership, safeguarding yourself from any potential complications related to the property’s title. Taking these tips for purchasing a home ensures a secure and hassle-free acquisition of your new home in Kolkata.

When buying a house in Kolkata, ensure you verify the following essential documentations:

• No-Objection Certificate (NOC): Ensure the developer has obtained NOCs from Kolkata Municipal Corporation, WBHIDCO, Kolkata Water Supply Department, CESC, and other relevant bodies.
• Title Deed: Verify clear ownership transfer of the property’s title in your name during the sale process.
• Allotment Letter: Review details on construction, amenities, delivery date, and payment schedule, especially in JV projects.
• Floor Plan: Obtain a detailed floor plan of the specific flat and floor to plan furnishings and track any deviations.
• Non-Encumbrance Certificate: Ensure there are no existing loans or mortgages on the property you intend to purchase.
• Building Approval Plan: Confirm the project has received approval from West Bengal HIRA, essential for legal compliance.
• Completion Certificate: For ready-to-move flats, secure this certificate to verify compliance with municipal and state regulations.

Adequate Sunlight and Ventilation in Your New Flat

When considering buying a new flat, relying solely on a checklist isn’t always sufficient. It’s crucial to visit the site and assess whether the rooms receive ample sunlight and feature a robust ventilation system. Adequate sunlight helps combat germs, while good ventilation promotes airflow within the rooms, contributing to a healthier living environment. These factors are essential for ensuring your comfort and well-being in your new home.

Connectivity Of Roads

Another crucial consideration before purchasing a new flat in Kolkata is evaluating the locality’s road connectivity. It’s essential to ensure your prospective flat is situated in an area with well-developed road networks that connect to major highways and offer convenient access to public transportation. Including this point in your apartment buying checklist can help you avoid investing in a property located in an inconvenient or less accessible part of Kolkata.

Consider the Construction Progress When Buying a House in Kolkata

Another tips for purchasing home in Kolkata is to understand the stage of construction. Typically, it takes builders around 3-4 years to complete a housing project. As a homebuyer, you have the flexibility to book your home at various stages of construction, depending on availability. Opting for ready-to-move flats in Kolkata is undoubtedly more secure. However, investing in under-construction properties within reputable projects can often offer competitive or below-market rates, presenting a potential opportunity for cost savings. This choice allows you to weigh the advantages and decide based on your preferences and financial strategy when buying property in Kolkata.

By following these tips for purchasing a home, you’ll ensure the property meets all your requirements and facilitates a smoother buying process.

Top Builders in Kolkata

When considering the need for a top builder in Kolkata, expertise and reputation play crucial roles. Top builders not only ensure quality construction and timely delivery but also offer transparency and reliability throughout the buying process, reducing risks and uncertainties associated with property investment.

Sugam Homes: One of the Top Builders In Kolkata

Sugam Homes, one of the renowned real estate developers and builders, has achieved remarkable success in Kolkata’s real estate sector. With a mission centered on meeting people’s needs while prioritizing environmental sustainability, we specialize in creating homes that blend your dreams with tradition and modernity. With a legacy spanning 30 years, each Sugam Homes property exemplifies excellence, trust, and innovation in design and technology.

Our commitment to sustainability is ingrained in every aspect of our projects, from architectural planning to ongoing maintenance. This Green philosophy underscores our dedication to offering residents a lifestyle that seamlessly integrates nature with contemporary living. Our accolades over the past four years underscore our dedication, positioning us as one of Kolkata’s premier property developers, dedicated to setting new standards in residential living.

FAQs:

What is the procedure to buy a flat in Kolkata?

• Paperwork Checklist to Buy Flats in Kolkata
• No-Objection Certificate (NOC): Various state and government bodies give their approval to a residential project in various stages of construction.
• Title Deed: The title deed represents a mandated document that gives a person total and absolute ownership of the property.

Where is the best place to buy a flat in Kolkata?

The Best Flats for Sale in Kolkata in 2024

• New Town/ Near Biswa Bangla Gate.
• Madhyamgram/ Near Kolkata Airport.
• EM Bypass.
• Behala Chowrasta Metro.
• Batanagar/ Riverside Property.

Which is the fastest growing area in Kolkata?
Rajarhat and New Town were considered to be the fastest growing areas in Kolkata, West Bengal, India.