If you are planning to buy property in Hyderabad, this is the right time. Property rates in Hyderabad are very low these days and you should not miss out on such a golden opportunity. Before you think of buying property in Hyderabad, you will have to do a proper research of the Hyderabad areas. There are some pockets such as Hi-Tech City that are really expensive. If you are looking for an investment in property, then you can look at some remote parts of Hyderabad as well. Considering the pace at which Hyderabad is developing, even the remote areas will be in demand in the next few years.
Make a checklist of all your requirements and keep all your documents in place. If you don’t have any document, get it immediately. Once you freeze on a property or flat in Hyderabad, you will not get much time to procure the necessary documents. Once you have the necessary documents, you will have to get them verified. This can be done by someone who is experienced in the field of real estate. If you don’t get anyone who can help you out with the verification of the documents, you can try out a good property lawyer. There are many such lawyers who will be sitting in front of the court to give you comprehensive information on the documents.
If you have a sound bank balance, you should not be worried about the payments for the flat. You will have to make sure that you don’t fall short of cash at any given point of time. There is a tax benefit associated with home loans. Make sure that you avail this benefit if you are taking a home loan. Some developers or sellers may prefer cash payments for certain amounts of the entire sales. Make sure that you take a proper receipt of such cash transactions. Keep revenue stamps handy if you are going to make any payments. You may also pay the booking amount by credit card or cheque. The acceptance of such financial instruments is at the sole discretion of the seller or developer. If you are going to take a bank loan, you will have to abide by the rules of the bank. These rules may change from time to time; hence you will have to keep yourself updated all the time.
There are many flats for sale in Hyderabad, but you will have to make sure that you select the most appropriate one that is perfect from all respects. If you have a broker, you will have to make sure that you are accompanied by the broker to the various properties. Here are some areas in Hyderabad that are considered to be hotspots for property investment: Gachhibowli/Nanakramguda area, Miyapur Area, Nizampet Road Area, Narsingee/Gandipet Areas and so on.
