Essentials to buy a 1 BHK in Mumbai
Essentials to buy a 1 BHK in Mumbai
Purchasing a new home or apartment is one of the most important decisions you will make in your life, and it is most likely an idea you have had since you were a child. Especially in the city like Mumbai if you’re thinking of buying a 1BHK within the city limits that gives you easy connectivity with an enhanced lifestyle, Kurla can be among few ideal destinations that offer many benefits. You must consider all possible outcomes before taking the plunge and making a decision, as purchasing a 1 BHK in Kurla for the first time is a vital life decision. Buying a home may entail taking out a large amount of loans, followed by monthly instalments deducted from your income, you must exercise extreme caution while making the decision.
Here’s an essential checklist to follow before you invest in a 1 BHK in Mumbai
Location:
One of the most important considerations is location. It is critical to look around the area in which you will eventually reside when you buy your 1 BHK in Kurla. Kurla in Mumbai is a location with every commodity available conveniently next to your address. Seamless connectivity is another essential factor to consider. The location is centrally located to the International and Domestic Airport, connecting you to employment hubs like BKC in just 18 mins and popular locations in South Mumbai within 35 mins. Kurla is home to a host of social infrastructure and entertainment set-ups along with having proximity to other recreational activities around the vicinity like Phoenix Market City Kurla, R City Mall, Kohinoor City Mall and more at a closer distance from the properties in this location. There’s no dearth of other essential services like educational institutions and healthcare centres around. Some of the top schools include- Orchids International High School, Holy Cross High School, Kohinoor International School. Meanwhile Kohinoor hospital, City Hospital Kurla, Fauzia Hospital are some of the prominent healthcare centres.
Additional Charges Levied:
This factor should be critically analysed before making your buying decision as it can have a huge impact on your budget and financial conditions for a longer duration. Focus on ensuring all the clauses of the documents and that they’re thoroughly read and understood along with the penalty clauses. Knowing them in advance will help you analyse and compare with other properties. It will also make you aware about your rights and hidden costs. Additional costs such as GST, stamp duty, home loan processing fees, registration fees, and all other fees should be considered against your loan eligibility and self-financing ratio.
Pricing of the Property:
Another essential factor in choosing a 1BHK apartment is to set a budget. Knowing how much you are willing to spend on a house makes it easier to narrow down your options. Compare the price of the property in question to those of nearby builders to determine whether the builder has provided you with a genuine quotation. There are numerous methods for obtaining a comparative of properties in the area you are interested in. Such sources include portal listings, local brokers, and newspaper listings.
Carpet Area of the Apartment:
Typically, the listed area of a property or super built-up area includes all shafts, elevator space, stairs, wall thickness, and other features. The carpet area, on the other hand, is the actual area within the walls of the flat. This area can be 30% less than the built-up area or the area used to calculate the property’s price. In some cases, when two owners share a floor, the cost of the common areas is split between them. Getting yourself aware about the various types of area will help you evaluate the price of the property.
RERA Status of the Project:
It is very important to check the status of the project that you are considering to buy on the RERA Website. If the project is not registered with RERA, get expert advice before investing. It can harm you in a big way, if neglected. If the project is approved by RERA, you will be able to check the project progress, title documents and various permissions obtained by the developer. If the project is RERA approved with all proper documents, it offers security to a great extent. You also need to get yourself aware about your rights if the developer fails to deliver the commitments.
Reputation of the developer:
After critically scrutinising all the aspects and before making the buying decision, also check the reputation of the builder or developer in the market. Also see the quality of contractors that they are working with as it can give you assurance about the quality that the developer is going to offer. Check the last few projects that the developer has delivered to ensure if the promised quality and services were delivered or not.
We understand that the cost of the project has a higher influence on the buying decision, however above given factors also should be considered as after all you’re not going to make this decision very frequently in your lifespan.
If you’re on the lookout for a perfect 1BHK to start off with, Puneet Urban Spaces presents Puneet Kalpavriksha and Puneet Prime. These latest residential projects from Puneet Urban Spaces, offer a varied configuration of 1, 1.5 and 2 BHK flats in Kurla, With unique internal and external amenities. These projects stand out as one of the most sought after projects in Mumbai’s bustling Kurla with an aim to provide a modern way of living.
At Puneet Urban Spaces we believe in offering an ideal lifestyle with spaces that are modern and urban. With ample number of amenities at your doorstep, Puneet Prime and Puneet Kalpavriksha houses every ideal facility advantageous for home buyers. Although location, possession date, and price are some of the key factors to consider when purchasing a new flat or house, there are some other parameters to consider when purchasing a new flat especially if you’re looking for an ideal apartment at Puneet Urban Spaces.