subject: Resale Property In Chennai [print this page] Hundreds of investors and client visited the HDFCs resale guidance campaign recently organized in the city. The property experts were been appointed there to help the advice seekers in regards of resale property in Chennai.
There were some criteria in this Property expo. The experts were guiding the visitor in selecting a property, location, locality, units, and price.
Among these classifications price was the main question in the expo held. Buyers and investors in property in Chennai had many a queries to seek clarifications from the procedure for selecting of documents to choosing the appropriate planning authority and to ensure that they get the value for money for their buy while investing in the resale real estate units in Chennai.
HDFCs resale expo initiative gave help on a resale unit buyers/investor on many aspects such as avoiding pitfalls, scrutinizing basic documents before making any investments. A large number of home buyers have already submitted their documents to seek home loans for investing in resale real estate property.
A good response, from the prospective buyers, was received in Chennai. Buyers enquired about their fears, and consequences and other queries in the expo.
A real estate expert from the city said, Lack of information on identification of appropriate authority to seek clarity on various issues governing investment in resale real estate property are seen as big reasons for the slower growth of the secondary market in the city. The experts in the expo not only helped the buyers in this regards but they also guided regarding their all the queries of the real estate market and Property in Chennai.
There were questions regarding the verification, durability of the structure, electrical and plumbing works, reliability of the developers, etc.
A number of questions were asked about the maintenance services, no dues certificate from the association, demarcation of parking areas, etc, services being offered by the developers.
Legal advising experts in the city say, even though there are no special safety measures required while making an investment in resale real estate units, there is only one big factor that needs to be verified well, is the quality of construction. All other safety measures are like validity for the purchase from the ex owner/builder.
A senior corporate lawyer and a columnist Mr S Vijayaraghavan says, Any defective title vested with the previous owner or builder will continue to be passed on to the new buyer. And Changing the ownership can not absolve the defect in the property title being an important factor especially while seeking an investment in resale units, he added.
Another major factor is that the investors should make sures that any additional rights on sanctions appropriate authority in the property is also passed on with a specific provision included in this regard.
In a gifted real estate property too, it might be for the familys benefit in which case, the document scrutiny is significant factor.
There were a lot did happened in the resale real estate property expo held in the chennai city. The prospect buyers gained a lot of informations, says a feedback survey conducted after the exhibition was over.
