Buying at a rate of 8000 + /sq ft apartment - Check List to avoid massive loss

Updated: Jun 24, 2020

Tick mark the check list before you pay 8000 plus rate for a apartment in Noida, may be you are carried away by the hype created

Property eye opener helps customer take informed decisions based on real-time analytics & insights. This post talks about the to do check list before you park your hard earned money in a property which is at 8000 to 9500 per square feet.

To do list:

  1. Project area should be good enough

  2. Park area should be a minimum of 3 to 6 acres because anything less should not come in bracket of 8k to 9k. Anyone, paying high price should check the open area in the project and amenities.

  3. Children play area – Children should get the feel that they are able to spread their wings.

  4. On each floor, there should be maximum two apartments if not one. Two way views is very important to have at such a higher price.

  5. Loading factor – Another must to have is less loading i.e. the carpet area that one gets after Super & Cover Area. If the loading is above 40% then project is not justified at this price.

  6. VRV (centralized AC) provision has to be there.

  7. Location should not be isolated i.e. the approach road should be safe and busy.

  8. Enough commercial markets should be there in vicinity.

  9. Views from balcony should be good and green.

  10. Jogging Tracks & enough places to walk

  11. Good greenery that is possible with good open area.

  12. In case the above and especially the first & second point are missing then the ideal price of the project should not be more than 5k. No matter how good the construction is, if the above parameters are not met then the asking price of 8 to 9k is exorbitant and is going to give tough times to buyers in terms of appreciation.

Please be careful with your hard earned money and do not get carried away around the hyped created. Please do a detailed on ground research & analysis before falling into the trap of Sky High Praises, it is advisable to consult someone who gives unbiased and true insights.

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Property eye opener was started because all of us believed that we had to rely on word of mouth largely coming from Property Dealers & Friends | Family. As buyers, we ends up in getting mix of opinion from people operating in an unorganized market & advice from friends were just to follow “foot step theory”. The only reason we are dependent on market forces because there was a huge information asymmetry in the market. Property eye opener is a platform that removes this information asymmetry and provides a marketplace for free & smooth flow & exchange of this information that at times used to become “Life Time Regret” by taking a wrong decision.

We have done 2 things to help you find that perfect home:

  • Firstly, we have painstakingly verified that each rating given is genuine & there is no room for anyone maligning a builder project or indulging in any malicious activities. We use a lot of heuristics and techniques to make sure that you get a true and genuine rating platform. Thus the ratings given by actual users are as per their personal experiences and opinion given by us is based on real-time analytics arising out of in-depth market research on builder projects performance.

  • Secondly, we have also tried to make sure that high decibel of information is available to you in as easy to use format. This ensures that you get a very good idea of the property even before you visit it. Thus, you can shortlist property sitting at the comfort of your home without actually traveling all the good and bad properties. This saves your time and effort and with a quick shortlist of 4-5 properties you can actually get a house in few days!

Disclaimer: Do keep in mind that the information that has been provided on 'the Website', including property details, forecasting, layout, comparative analysis, project rating etc. have been displayed for reference purposes only and cannot replace the primary source i.e. an independent verification by buyer/ agent. Any investment decisions that you take should not be based relying solely on the data that is available in this blog. The writer is an experienced real estate consultant giving unbiased & unfiltered insights, views of the writer are personal and not bound by any organization!

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