Guidelines for Buying a Duplex House in Chennai
Residential investment opportunities abound in the real estate sector. These options differ not just in terms of location and price, but also in terms of style, facilities, and value.
Flats, condominiums, villas, bungalows, row houses, and other types of residential real estate are available in Chennai. The one that is most popular among these options is a villa or a self-contained house. People like to invest in villas because of their large spaces and privacy, which provide a higher level of living. But it also comes at a higher cost. Hence, duplex homes are becoming popular. They combine the experience of a dual-level home with the privacy of a bungalow with the convenience of an apartment.
Always be aware of your requirements
Before you begin, you must first assess your requirements. Because Chennai is one of India’s most literate states, there are schools and prestigious colleges around. You should keep an eye out for everyday necessities and their proximity to your home. Before making an investment, consider the availability of water and other resources.
When purchasing a duplex home, understand the design. How many bedrooms are on the second level, the size of the family living room, access to the staircase, other facilities like a terrace garden or private garden etc.
Choose a cool place
Chennai lies close to the equator, making it a hot and humid city. As a result, picking a place with trees and open natural spaces will be advantageous to you. Before making a final selection, think about the distance from workplaces, shopping hubs, schools, and hospitals.
Check if approvals and permissions are legal
Double-check the house’s documentation, as well as those of the builder, before making a final decision. By inspecting this thoroughly, you can avoid any legal issues with your home in the future. Some vital documents, such as title deeds, local bodies’ NOCs, and the RERA certificate, must be examined.
Investigate the quality of construction
Even if it is everyone’s ambition to build their own home, betting on luck is a bad idea. Some builders may give you a low price, but there is a considerable risk of poor construction. Choosing a poorly constructed home as a real estate investment is a risky move. Purchasing a home from a reputable builder with good construction quality ensures a good investment and a great home for the future.
Make a budget
Many banking institutions provide attractive incentives to first-time home purchasers. Chennai, being a technologically savvy city, has a slew of banks and financial institutions that will offer home loans. Most likely, they will only lend you 80% of the home’s value. The buyer is in charge of the remaining 20%. As a result, when looking for a home purchase, set a budget and work around it.
Both the buyer and the builder must agree
When purchasing a house, the buyer must pay a deposit to complete the transaction. You will be required to sign a three-way agreement between the buyer, the builder, and the bank that will be financing.
When you sign the deed, the price is set in stone, and market fluctuations will not affect you. Once you’ve signed, you won’t be able to alter your mind, even if it’s on legal grounds.
A property’s final assessment
Because there are various unique and additional expenses that you must pay, the cost of an apartment may change. This might include car park charges, maintenance deposits, and security fees, among other things. As a result, read over all the facts about your home before making any final payments.
Purchasing your ideal property is an unforgettable experience for you and your family. Before you finish the transaction and prepare to move in, double-check that you have all the paperwork and legal procedures in place.
If you are looking for a hassle-free, duplex home buying experience then you definitely need to consider The Madras Bungalows at Perambur Barracks Road, Purasawalkam. It is part of SPR City, Chennai’s largest integrated township and a landmark in the making in Chennai. Importantly comes with good quality construction, and has the required RERA approvals and financing options. The duplex homes at The Madras Bungalows are cozy and spacious with essential privacy.
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