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| Real Estate developments in Jaipur |
| From the manors and huge mansions to
small duplexes or multi-storied apartments and shopping malls
the real estate market of Jaipur has been on a run. Having
experienced a fresh investment of about Rs 3000 crore
real-estate market has become more institutionalized. With the
presence of various large players and investors, the city
would soon witness many state-of-the-art multi million
ventures. Eventually the real estate sector which has long
been an unorganized sector will now transform into an
organized sector. Even the Foreign investments are playing a
major role in the development of the city “Jaipur”. According
to the experts many foreign firms are trying to collaborate
with the local builders to set up their projects in Jaipur. |
| A boom in realty sector |
| The vibrant real estate
market in Jaipur has opened up new opportunities of investment
in the last few years and the year 2006 has seen a wide array
of opportunities being created. Investments in the property
market have been on a run with investors getting more than
their expectations. Because of this boom in property market,
there has been an excess of supply coming into the residential
and commercial segments, especially in the suburbs of Jaipur.
According to the realty consultants various projects like SEZ,
Reliance retail,and IT Park, among others are expected to
increase the realty sector of the city by 25 to 30 percent in
the next three to five years. Experts say that the commercial
sector is expected to dominate realty demand in 2007. with the
city facing the shortage of big corporate and office space,
the start of corporate investment in the city would further
fuel the crises. This would eventually increase the commercial
prices by another 20 to 25 percent. So hurry and avail the
offer before it gets too late. |
| Things To Take Care Of While Buying A
Property. |
• Make sure that the inner spaces of the
apartment are not visible from outside.
• If the property
is under construction, you must have information on various
related issues like raw materials etc.
• Sometimes the
builders give a smaller than promised apartments, so please be
sure that they do not play this dirty game.
• Please check
that the builder has the authority to sell and also has the
title and possession as well as the right to transfer.
•
Check whether the building or developer has the necessary
approvals from the corporation area development authorities,
electricity boards, water supply and sewage boards.
• Once
the ownership title is approved and the apartment is
transferred to the buyer, he is entitled to receive a share
certificate bearing his name. |
| Legal Concerns In Buying A Property |
| Buying a house is a very difficult task
and requires a great deal of deliberations on the part of the
purchaser. Legal documents form a very important part in this
series. Here are some things, which you should keep in mind
while buying a property: Assessment of value While buying a
property, make sure that the price is in accordance with the
existing market rates. A good realtor can advice you fully on
this aspect. Documents of the building/project It's mandatory
to check the reliability of the developer before you commit to
any property. Checking the builders past records along with
the visits to his past projects could make one ascertain his
reputation. Timely possession, quality of the construction
materials, penalty clauses, providing facilities are a few
things which one should keep in mind while identifying a
developer. Technical Verification In order to find out about
the quality of the structure, get the opinion of any private
structural engineer for certification. Stamp Duty No
transaction is complete unless it is duly stamped, that the
buyer has paid the appropriate stamp duty. So please be very
careful. |
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