If you want to buy a house in Surat – also called the “Silk City of India”, it might feel like a task, since it is one of the richest towns of the country.
However, richest does not necessarily mean expensive! Therefore, investing in real estate in this vibrant Gujarati city is a possibility if you ask and answer the following questions.
1) What is my price range?
You must keep in mind the price range while buying a house. Fix a budget first and then start looking for a property, considering overhead charges like legal fees, brokerage fees, property tax, stamp duty, etc. You must also research and compare the prevailing property prices in Surat to better understand the market spread.
Along with scouting for real estate prices, you must also figure out your affordable EMI range. The most accurate way to do that is by using a home loan EMI calculator online.
2) Where is the property located?
When you buy a flat in Surator anywhere else, it is critical to evaluate the locality. Keep in mind factors like safety, accessibility and hygiene. You might need schools and hospitals in proximity if you have children or elders living in your family. Also, buying a house near your place of work will make the daily commute stress-free.
Additional Read: Check Out How to Buy Your Dream House in Ahmedabad
3) Who is the builder?
Gauge a builder’s credibility by figuring out their past projects and delivery timelines. Find out if the builder you are interested in has any ongoing legal issues or not. Know the kind of materials they use along with their work ethic. Check the overall reputation of your builders to make sure you buy home in Surat hassle-free.
4) What is the possession date of a shortlisted property?
Delayed possession is a common issue with real estate investments. Additionally, there are risks of being scammed and the project being stopped midway. So, it is best to ask your builder and your real estate agent for a clear estimate of a timeline when you can gain the assured possession of your new house in Surat.
The Bottom Line
Remember, 2020 might be just the perfect year for you to make a property purchase since the home loan rates are at a record low, and the advantage of pricing is in the hands of the buyer.
Additionally, purchasing residential real estate in Surat is expensive, but financing can become easy by availing a home loan in surat. You can apply for housing finance at lending institutions at a comfortable rate of interest and EMI plan. But, before that, you must check your home loan eligibility online.
Additional Read: A Detailed Guide for Buying a House in Top Indian Cities
Looking for a lender with the best loan terms?
Well, then your search ends at Tata Capital! We offer home loan offline and online with competitive home loan interest rates, customizable repayment tenures, speedy processing, and minimal documentation.
You can also check our easy to satisfy home loan eligibility criteria by logging on to our website and using the home loan eligibility calculator today!