|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.|
Ghaziabad is one of the sought after realty destinations in the NCR. Known as an industrial city, it is gaining momentum among new age IT and financial companies for its proximity to Noida and Delhi. The city enjoys good connectivity to different cities of NCR via the NH24.
Quite recently, the UP Government has announced to allocate Rs 3500 crore for developing Ghaziabad. Of this amount, Rs 750 crores have been sanctioned for bettering internal roads and water treatment plants. Efforts are being made to lower the pollution levels of the city through installation of an ambient monitoring system. The project cost shall be borne by the state and central government. The under construction FNG Expressway shall enhance its connectivity to Faridabad and other parts of National Capital Region once completed.
The betterment in infrastructural levels combined with strategic location makes Ghaziabad an investment destination to watch out for. Prices of flats for sale in Ghaziabad usually hover from Rs 2500 to 3500, but for resale ones, the amount may be lower. The top localities of Ghaziabad where one can consider investing are:
- Crossings Republik
|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.|
Crossings Republik is one of the sub-cities of Ghaziabad, the other being Indirapuram. The township enjoys good social infrastructure as there are malls, schools, hotels, banks and police station within its vicinity. A fire station and hospital are in the pipeline for this township. The area is located along the NH24, which serves as is its thoroughfare. The average property prices prevailing in Crossings Republik is around Rs 3560 per sq. ft. Upon putting up their apartments on rent, investors can realise Rs 10000 or so from the flat every month.
The area enjoys a plethora of options for connectivity- metro railway at Vaishali and roadways, in particular the NH24. The area was developed in a planned manner and has well-woven social infrastructure in the form of entertainment and shopping zones, healthcare centres and various schools. Compared to the other neighbourhoods, the capital values are slightly lower, between Rs 3600 to 5500 per sq. ft.
Indirapuram is well connected to Greater Noida, Noida Extension and Noida via the Noida Link Road and NH24. It caters mostly to professionals working in Greater Noida and Noida at the IT and ITeS companies based there. The closest metro station is 3 to 4 kilometres away at Vaishali. The capital values for flats for sale in Ghaziabad's Indirapuram vary between Rs 4300 and 5600 sq. ft.
The locality is an affordable destination of Ghaziabad that offers quick access to Delhi and Noida. The residents of the area belong mostly to the working class. The area enjoys metro connectivity via the Blue Line which has boosted its real estate considerably. The capital values prevailing in Vaishali lie between Rs 5740 and 7000 per sq. ft. Not many new projects are coming up in the area, hence pre-owned flats for sale in Ghaziabad is the only option of investment. The rental values in the neighbourhood range from Rs 14000 to 16000
|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.|