10 Things You Must Check Before Buying Property In Mohali
Known for Chandigarh International Airport, Mohali, with its unmatched blend of modernity and history, hypnotizes everyone, whoever sets his foot in this beautiful part of Tricity. With a rapid growth as an IT hub of the state and having many international sporting venues, Mohali promises a uniquely refreshing experience to all.
In simple terms, Mohali is one of the fastest developing Tier-II cities in India. The primary reasons behind this rapid growth comprise of proximity to the City Beautiful- Chandigarh, distinctive options, and high living quotient of commercial investments. Well, the state government and GMADA (Greater Mohali Area Development Authority) are further putting efforts for the expansion of the city.
So, if you are thinking to invest in a property in Mohali, consider the following 10 things to take the right decision-
If you are looking for a property in Mohali for the first time, then you need to work more on your thinking process. Property can be anything- home, office space, flat, plot, and more. As there are numerous commercial property options available for sale as well as on lease in Mohali, Chandigarh, you will never be short of options.
In this case, don’t step ahead without a detailed background study of the developer you have shortlisted. Check his reviews, ongoing projects, and ratings online. Create a formal comparison of property that your shortlisted developers are providing you. Make a decision that suits best to you in Mohali.
Be wise before finding an address for your office space in Mohali. Prefer to have it in a prime location. Keep in mind the following factors for the convenience of your employees-
- Legal approvals
- Connectivity with key areas
- Convenient modes of travel
- Development prospects in the future
- Food courts with leisure
Do you know that the best-planned commercial and residential properties always provide well-established infrastructure in the vicinity? While you look for your convenience in the property, keep in mind the comfort zone of your employees and families, as well. Besides, make sure the property or business space, whether buying or taking on a lease, is surrounded by cafes, modes of communication, shopping malls, ATMs, and more.
Ample Parking Space
Parking space is one of the significant concerns in big cities. One should check for on-site parking space to avoid any hassles while buying office space in Mohali. Meanwhile, go through the parking arrangements if available in the surroundings.
Your decision to buy a property in the Tricity’s Mohali is right due to the budget-friendly options you can avail of in the city. Although the city shares its border with Chandigarh, the property prices are comparatively reasonable. Such factors make Mohali as one of the preferred options for real estate investments.
Probable Resale Value
Buying a property also targets investment as an agenda. You want good value for your spending by purchasing property in Mohali. Thus, your search will end at a location where there is a high probability of a boost in real estate value in the upcoming years. So, you should assess the probable resale value in the future before executing your buying decision. Take expert advice to determine the correct value.
Important Title Deed
It is one of the essential documents to consider when it comes to outlining the chain of ownership of the respective property. This document gives full right to the owner to claim the absolute ownership over the property. Being a buyer, check if it belongs to the respective seller. Go through the deed vigilantly, and if you have no idea about it, seek the help of a property agent.
Before proceeding with the final decision to buy a property in Mohali, have a thorough check to know if there is any financial liability pending on the property. Make sure all associated debts with the property are cleared before you sign the final agreement.
Look for Opportunities!
There are many upcoming real estate projects in Mohali that one can plan to register his or her property in advance. It is beneficial to locate your property in an address that has high prominence. But, your in-depth research can help you grab the opportunities thriving from new properties in Mohali.
It is significant to have accurate information about the land on which your property is built. If you are buying an independent house, look for the soil quality and land’s topography. For flats, look for the material used to construct it. However, know about the neighborhood in both cases.
Therefore, once you decide to buy a property in Mohali, make sure to have all the facts in place. Keep the things discussed above in mind and do not fixate on any one option until you are not completely convinced with all the factors. Purchase the property that fruitfully decides the future of your professional journey. Happy hunting!