Are you looking for a real estate opportunity in the vibrant city of Ahmedabad? If so, then check out these steps to buy property in Ahmedabad.
Steps for buying a home in Ahmedabad
Ahmedabad is Gujarat’s commercial capital and a place currently brimming with opportunities. Many industries are flourishing in the city, leading to migration of workforce from different parts of the state into the city. Naturally, this has created a high demand for housing in the real estate sector.
Here are the steps you can follow to buy a house in Ahmedabad:
1) Choose your locality
The first step for buying a house would be to find the right locality. You can prioritise the location of your home according to its proximity to schools, hospitals and offices. After figuring out the right locality for your household, make sure to check your home loan eligibility. The quickest way to figure out if you are eligible for a housing loan or not is by using an online home loan eligibility calculator.
2) Know what you want
You should have a list of criteria that the house must meet, for example, the price range and the area of the floor. You must keep in mind that the house you decide to buy fits your budget and provides sufficient space. If you already have said specifics in mind, it is time to estimate an affordable monthly instalment amount, for which you can use an online home loan calculator.
3) Know your developers
Run a thorough background check on your developers to make sure that they are credible and have an honest track record of using the best materials approved by industry standards. Gather information about their previous projects, their past successes and failures. Make sure that your builders abide by the RERA Act of 2016. This Act ensures reduced delays, increased accountability, and dispute resolution by builders, within 120 days of filing a dispute.
4) Carefully select financing
Real estate opportunities in busy cities like Ahmedabad are not cheap, especially if you are buying property for the first time. Therefore, availing a home loan is a good and affordable option. It is important to compare lending rates and other terms offered by lenders for financing your flat purchase in Ahmedabad.
How to buy your dream house in Ahmedabad
Before applying for housing finance, calculate your EMI affordability with the help of an online home loan EMI calculator. Once you have a fair idea of the amount you can borrow, look for a lender that offers you a low interest rate. You must also keep in mind what the right time is to invest in a real estate opportunity.
Additional Read: A Detailed Guide for Buying a House in Top Indian Cities
For example, you can get some of the lowest home loan interest rates during the Covid-19 pandemic, given the demand for property has gone down temporarily.
Additional Read: Top Places to Buy House in Ahmedabad
Are you looking for easy housing finance? Turn to Tata Capital! We offer loans at the most reasonable home loan rates. Our loan application process is hassle-free with customizable tenures and minimal documentation.