CategoriesReal Estate

Why You Should Pick a New Construction Over the Resale Property?

Whenever we buy a home, we think that we will stay here forever. But that is not the case. With time, numerous reasons crop up which forces us to buy new flats in Hyderabad. These reasons can be an expansion of the family, moving to a new city or simply bored with your old house. The bottom line is 80% of the families change houses with the passing time.

Now comes the question, when we plan to buy new flats in Hyderabad, we are confused about which property to go for. Should we go for a newly constructed property or a resale one? In recent years we have seen the rise in demand for new construction home and a decrease in the demand for resale flats.

In this article, we will discuss why you should opt for new flats

  • Low Pricing

New houses are normally bought from the developer themselves. Therefore, when you are buying a new constructed home, you do not need to pay any broker. When you plan a buy a resale house, the previous owner will want to sell the property at a much higher rate than he bought it. Therefore, this margin increases the price of a resale flat. On the other hand, if you wish to buy a newly constructed house, you only pay the minimum selling price for the property.

  • Energy Consumption

Resale flats are quite old and the electric meters which are installed in them are very old and sometimes faulty. Even the wiring and electrical connections tend to deteriorate with time. This aging of the electrical system consumes more electricity.

On the other hand, newly constructed flats have new wiring systems and meters and hence the electric consumption is quite low.

  • Financing options

Newly constructed flats are most of the times approved by banks for loan sanctions. The developer does all the running around and completes the paperwork required for getting the home loans pre sanctioned. For resale properties, the bank takes ages to approve the loan because of the strict scrutiny and evaluation they have to do before sanctioning the loan.

  • New wiring

Resale properties are very old and hence all the wiring, foundation, color wears out with time. Since electrical wirings also become loose, it, therefore, increases the risk of short circuit and other mishaps. Newly constructed flats, on the other hand, have the latest and more advanced wiring installed. This reduces the risk of short circuits and related accidents.

  • Better resale value

Resale flats are normally old. If you buy an old flat and then again want to sell it off, it becomes an ancient property. No one wishes to pay an enormous amount for an aged property.

If you buy newly constructed flats, then if you wish to sell it off, it will get a higher price than resale flats. This is because if you buy a resale flat and sell it off, the flat becomes a 3rd hand flat. But if you sell off a newly constructed flat, then it becomes 2nd hand property, which obviously fetches you more money.

  • No renovation cost

As discussed earlier, resale flats are old and if you decide to buy them, then you have to be prepared for spending extra money on renovation. Newly constructed flats are freshly built, so no renovation is required as all the foundation, plumbing, and electrical wiring are still new.

  • Minimal risk of diseases

Resale flats are known to be infested with bugs, molds, etc. Also, if someone who previously used to reside in the flat had deadly diseases, it could easily spread within the walls of the flats. This is a major concern because once you buy an infected flat, you will also be at the risk of getting infected from these diseases.

Newly constructed flats for sale in Gachibowli are fresh and no one ever has resided there before. Therefore the chances of getting infected from deadly diseases also reduce.

  • Clean Slate

Few resale flats have unwanted history attached to them.  For example, someone committed suicide when he/she was residing in the flat, or there was a  major quarrel which led to deadly mishaps. It is always good to stay away from such properties because although the events occurred years back, it leaves behind a trail of negative energy.

To avoid this misfortune, you should always opt for newly constructed flats, as these properties are not

  • More Spacious

Newly constructed flats are designed more meticulously and thus, the entire planning of the floor gives the maximum amount of space to the owners. Resale flats follow the olden style apartments which are very gloomy and space management is not implemented properly in these houses.

Thus, to conclude, you should always opt for newly constructed flats instead of resale ones due to the immense amount of benefits new flats provide.

CategoriesReal Estate

Things to Know Before Buying a New Construction Home

Things to Know Before Buying a New Construction Home

There are millions of blogs and articles on the internet which talks about what to check and know before buying used flats or villas. But what to do if you wish on buying a new construction home or a home which is still under construction.

Buying a new construction home can be a challenge because when you do not have anyone to ask how the property is. Since you will be one of the first inhabitants of this property it is a risk but it can also be a risk worth taking. If you wish to buy a newly constructed house, you will definitely get a better deal compared to buying a flat which has already been used and is an established one.

Checklist for before buying a new construction home

Check if the builder is reputed

Buying new construction houses for sale is a dream come true for everyone. We all prefer buying 1st hand good rather than a used one. But in the case of properties, most of us prefer buying used ones because a house where already people stayed is more secure than a completely new one.

When you are buying a newly constructed home, always make sure to check and study the builder. Reputed builders always have a clean slate when it comes to paperwork and they abide by the municipality rules. But if the builder is not reputed, then there are chances that some illegal things can crop up. This might, in turn, raise problems in the future for you.

Research the community

When you are planning to buy flats for sale in Hyderabad which is newly constructed, you need to research the community well. Make sure the community has all the amenities like transportation, markets, etc. Also, check about the people residing in the community. You do not want to stay in a place where the neighbors are very rude or violent.

Has the project got approval from the Municipality

Getting permission from the municipality to construct a new building is one of the most important things which you should check. If the building has not approval from the municipality, then the building is termed as illegal construction.

Understand the terms and condition

When you enter into an agreement with a builder, make sure that all the terms and conditions are cleared. Clear all your doubts and understand the clauses properly. For example, if you wish to cancel your booking, then make sure there is a clause for refund.

Home Inspection

Flats for sale in Hyderabad which are newly constructed needs to be inspected properly. Proper inspection of the entire area including the parking space, lawns, etc needs to be checked.

Project completion time

Make sure to know the final date of possession. There are instances where the flat possession is given after 10 years from the booking date. Clear all your queries because once you enter a contract it will be difficult for you to bail out.

Try to find if there are any hidden costs involved

Many a time builders, produce unexpected billings before giving the final possession of your flat. For example, just before handing the keys the builders might give you a bill for development fees, other taxes, etc. These hidden costs are old tricks which are still played by the builders in order to extract a few extra bucks from you.

Take a tour of the property

Before making the final payment, make sure to check the entire house properly for any defects or damage. Your walls should not have any damp signs, and all your electric connection should be working. If everything is okay, then go ahead and make the final payment.

Check with the Electricity board

Check with the electricity board if your builder has already applied for new connection and meters. This is very important, because if you apply again for the meter, then it will cost you extra.

Check with the locals about the water availability

One of the most important things to check before buying any newly constructed houses is the availability of water from locals. Many localities have fixed timing when the water distributed. Make sure to understand the trend of water supply in your new locality.

Check the law and order of the area

Since you are planning to move into a locality, always check if there are proper law and order or not. You do not want to live in a den of the mafia or local goons.

Hence, make sure to review the above points in order to buy a newly constructed home without any fear or risk. Risk is always there when you are planning to buy a newly constructed home, but if you follow the above tips, then no doubt you will get the best house of your dreams.

CategoriesReal Estate

10 Reasons why you should own a House in Vasavi Constructions (Usharam Integra)

A house is a place where people return to after a long and tiring day. It is important to own a house of your own rather than living on a lease or as a paying guest. It gets even better when the house you own is very much similar to your dream home.

Vasavi Usharam Integra Apartments

We all have dreams about owning a particular style of condo. We all dream of having a house which is completely designed as per our vision with no rules or regulations. But in reality, a house which is exactly like your dream house is nearly impossible. But you can own a similar house in Hyderabad or Bengaluru, the two most important commercial cities of India.

Vasavi Usharam Integra Apartments

Vasavi Group, founded in 1994, builds amazing houses in Hyderabad and Bengaluru. Till now it has completed more than 40 projects. Their projects also include apartments, gated communities, and shopping complexes. They have made quite a name by providing quality property to their clients.

It is obvious that before buying a house from Vasavi Constructions, you need to know the reason why to prefer this construction company? Here are 10 reasons why should you choose Vasavi Constructions.

  • They are the leading real estate developer in Hyderabad. To back this data, The Times of India has awarded them with Best High Rise Project and Best Residential Township. They have shaped Hyderabad with more than 40 residential and commercial projects.
  • They are the most trusted real estate developer in the city. The successful selling of the projects shows the trust of the customer towards the estate developer. It has also received the best residential township (Ongoing) award in 2018.
  • Quality houses with a touch of innovation are also delivered by Vasani Constructions.  Each project is better and beautiful than the previous one.
  • They have developed more than 98, 90,300 sqft of land. They also aim to construct on over 10 million sqft of land before the next 5 years. They include more free landscape in their current project than the previous one.
  • They aim to provide houses which are equal to people dream homes with maximum comfort.
  • These projects are constructed under the supervision of professional architectures, designers, and contractors. These professionals ensure a safe and beautiful house for your family.
  • Vasani Constructions are known for punctuality and discipline. They complete their projects on time. They very well understand the value of time for their clients. And therefore, they do not compromise with it.
  • They select the perfect spot for their projects. These places have a peaceful neighborhood and all the basic facilities nearby like market, bus stand, etc.
  • They provide affordable housing solutions. All the procedures followed while buying a house of Vasavi Construction is completely transparent.
  • They are known for their reliability, quality, and innovation in real estate.
CategoriesReal Estate

Understanding What Are the Difference Between Villa and Flat

Understanding What Are the Difference Between Villa and Flat

When we plan to buy a house, the first thing we look out for is the location of the property. We all want our houses to be situated in neighborhoods which are safe and has all the basic amenities like markets, medical stores, etc. The second question which comes to our mind is whether to buy a flat or a villa. This can be a difficult decision to make because both flat and a villa has its own advantages and disadvantages.  In this post, we will provide a Comparison between villa and flats and help you to decide which one will suit your purpose better.

Comparison between villa and flats:

  • Amenities

When we talk about amenities it includes facilities like security set up, CCTV installation, power backup, water pumping facilities, etc. When buying a flat or a villa, these amenities come at a cost. The only difference is, in flats all the amenities are set up by the builder itself and it is charged in the amount of the purchase.

On the other hand, when you are buying a villa, you need to spend extra from your own pocket in order to set up these amenities. For setting up a security network and CCTV, you need to invest extra. Similarly, for power back facilities, you need to purchase a generator or an inverter. Overall, to add these facilities, you need to spend 2 to 3 % of your entire villa price extra. Not only you will need to spend extra, but you will also have to monitor their maintenance and have to check if they are working correctly or not.

  • Loan Facilities

Nowadays most of us are buying flats and villas with the help of a home loan. But did you know that getting a loan to buy an apartment is way easier than getting a loan to buy an independent house? Well, yes this is true and there are many reasons to back this.

When you buy 2 bhk flats for sale in Hyderabad in a gated property, the property is already scrutinized by the banks and all the paperwork is checked. So, when you apply for a home loan while buying a flat, the loan amount gets disbursed in no time.

On the other hand, if you wish to buy or construct a separate villa, the bank will scrutinize all the papers very carefully before approving the loan. The reason why banks take a lot of time and follow strict procedures before approving home loans for villas is that this type of property involves a lot of unaccounted cash transactions as well.

If you are buying land, then a bank will only give 70 % of the entire value. The rest of the amount you will have to give from your own pocket.

Similarly, if you wish to buy an under-construction villa, again it will be a tiresome task for you to convince the bank to give you a loan. Hence, if you want to experience a hassle-free home loan disbursal procedure, it is better that you should opt for 3 bhk flats for sale in Ameerpet Hyderabad instead of a villa.

  • Maintenance

Buying a home is not the end of expenditure. The real expense starts after you buy a house. If you purchase a flat in a gated community, then the maintenance is done by the committee of the flat members. All you need to do is pay your monthly maintenance fees and the committee will look work on maintaining the property. In a nutshell, the expense of maintaining the property gets divided among the flat owners hence it does not hurt the pocket much.

On the other hand, if you buy an independent villa,  then every expense will be borne by you. Whether it’s a problem with the power generator or leaking water pipes, you have to arrange for technicians and fix the problem at your own expense. If you are planning to buy a villa in a gated community, then you can form a committee and share all the maintenance expenditure with the villa owners.

  • Return on Investment

Whether we buy a home for investment or staying purpose, we always think of how much the property will be worth after 10 years. In other words, we all want to purchase properties which will offer us the best rate of return. When you compare the resale value of flats and villa, villas are obviously more expensive than flats. But flats are much easier to resale than villas. The primary reason is flats have many amenities which most of the villas fail to provide.

Hence, here are a few pointers which we used to portray the comparison of a flat and a villa. Hope this article has helped you to decide which property suits you the best.