|Buying Property Tips#1: Choose the Right Location|
|Before you choose a location, it is of utmost importance that you consider the development prospect of the area. Other factors to consider here is crime record of the area, availability and nearness of public facilities and utilities.|
|Buying Property Tips#2: Study the Local Market Dynamics|
|It is important to get well familiar with the local realty market. Learn the variation in property prices by street. Don’t shy away from asking a few realty investment agents questions to get better insight on the matter.|
Shahdara constitutes old Delhi. Since Delhi has been the seat of power for many centuries, this part of the city fell in the domain of Old Delhi. Shahdara in Urdu means the door of the Kings, denoting the area's link with the ancient times. In the olden times, Shahdara was a commercial centre. It was a grain market. In the modern times, though this area has been modernized, it still contains an old world-charm. You will find some parks nearby. You will also find a temple of Sai. Many Sai followers can be seen in the area.
Infrastructural facilities of Shahdara
Though the area is in Old Delhi, it still enjoys the same facilities as the rest of the city. You will find some good schools and educational institutes in the area. The area is also connected with the state-run buses and metro has a very good connectivity in this area. You will even find a railway station nearby, thus making this place accessible from all parts of the city. Clean water supply is provided in the area. You will also find a good drainage system in the area. If you want to stay connected with the old world, this is the place to be.
Economic Structure of Shahdara
|Buying Property Tips#3: Choose the Right Property|
|Getting the right property right away is quite unlikely. First, you need to be clear on why you want to buy an investment property. After that, you will be able to make right decision based on factors like remoteness or accessibility of the property.|
|Buying Property Tips#4: Do the Math Properly|
|Get a precise idea on the value of assets you have available. If you are investing in rental property, make sure you can easily cover the mortgage payment through rents. Additionally, get a clear idea on the appraisal value of the property beforehand.|
|Buying Property Tips#5: Consider Additional Expenses|
|When purchasing an investment property, it is not only the selling price that investors need to consider. There are various additional expenses such as property tax, home owner’s insurance, repair & maintenance that must be considered.|
The area is home to many big industrialists. They also have large shops in the area. You will also find good shopping malls, alongside the traditional shopping places. You will find shops catering to the residents in the traditional way. The place is home to both middle-class and upper middle-class. Economy is thriving in the area. It has trading convenience, as most of the major banks of the country have presence here. It even has a central business district to promote economical development. You will find good hotels and restaurants in the area.
View of real estate projects
You will find apartments of all price ranges in the area. 1 BHK flats start from Rs 15 lakhs, and 2 & 3 BHK flats range between 35 lakhs – Rs.2 crores. The price varies with the locality of the apartments. If the apartment is in a posh locality, with all available basic amenities, the real estate price will be high. The basic facilities include car parking space, lifts, security guards, garbage disposal. While buying a property, check the documents and the site by an engineer and lawyer. If there is any dispute in the legal aspect, a lawyer can point that out.
Civic Challenges of Shahdara
Shahdara faces the problem of stagnating garbage. After repeated complaints of the residents, the local municipality has paid attention to the problem. The garbage now gets regularly cleaned. However, safety of women is a point of major concern. In recent times, steps have been taken to correct the situation. If you want to feel the old-world charm, invest in a real estate project in the area. You can be a bit far off from the city, but still be able to enjoy the same facilities. The real estate project will give you good returns.
|Buying Property Tips#6: Inspect the Property|
|To ensure that you are getting everything you are paying for, a thorough inspection of the property is essential. Besides ensuring that you are not overpaying, a rigorous property inspection also gives you a good estimation on what the additional expenses might be.|
|Buying Property Tips#7: Pick the Right Financing Option|
|While interests on investment property loans are tax free, some borrowing costs aren’t immediately tax deductible. Knowing that, and structuring your financing in accordance is crucial. Don’t hesitate to ask for help from a financial advisor.|
|Buying Property Tips#8: Invest through Equity|
|One of the best ways to purchase an investment property is to leverage the equity of another property (including your primary home). This is a preferable way among regular investors, especially due to added tax deduction advantages.|