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5 mistakes to avoid while buying a property

Posted on 31 Oct 2022

Categories : Real Estate Development (108) IT Development (21) Super Corridor Development (41) Residential Project (19) Infosys Indore (3) Indore News & Updates (13)


Purchasing land or a house involves a substantial amount of investment and it is one of the most important decisions one makes in a lifetime. Not only does it use the money one is saving but also is a commitment that involves a significant number of years if one purchases it on a loan. Here in the blog, we compile a list of mistakes to steer clear of while making a property purchase.

1) Direct negotiation on the final price.

People often make the mistake of starting the negotiations for the final price of the property. In such a case one often misses negotiating on other terms and conditions which do not involve the money initially. For eg, if you already finalize a prize with the agent and then come to know that the furniture in the house was not included in the cost, and you have already given the token money, there's not much you can do about it. Hence, the final price should be the last thing you discuss in the negotiation list.

2) Disclosing the budget firsthand

If one discloses the budget to the seller, they come to know about your paying capacity. In such a scenario, even if the property's net value is less, the seller might inflate it according to the disclosed budget which will lead to the buyer overpaying for the property. Details like budget, home loan amount should not be disclosed to the seller as they may play the psychologically after knowing these details.

3) Neglecting property evaluation

buyers often trust the word of the sellers and do not take the efforts to do a SWOT analysis of the property they are buying.

  • - Strengths: Near to the shopping market; hospitals, malls, corporate, schools, atm, offices nearby.

  • - Weakness: sewage pipes running, weak construction quality, not suitable for a rental property.

  • - Opportunities:  in the future metro line connectivity, opening of malls, schools etc.

  • - Threats: the government might acquire land, opening chemical factories nearby due to availability of barren land, high tension Extension wire passing by, etc.

SWOT-analysis helps in arriving at an appropriate ballpark amount. It also helps in better negotiation as knowing the property's threats and weakness might help.

4) Emotional Buying

Many buyers sometimes make a property related decision emotionally. If one has a friend or a relative who has purchased a property at a place, they neglect everything else and make the purchase. Sometimes that lands people in trouble.

5) Pressure Tactics of a seller

Sellers often try to not give the buyer ample time to think as it often leads to buyers changing their decision. Sellers might claim that four other clients are also seeing the same property and if the buyer doesn't hurry, he might miss the deal. Claims like these are only to influence the buyer into making a prompt and immediate decision. This is not recommended while buying any property. buyers should take time and understand everything about the property before buying.
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FAQs

Frequently Asked Questions — Super Corridor Indore

Common questions about flats, plots, pricing and connectivity on Super Corridor, Indore–Ujjain Road.

Super Corridor Indore is a major planned development corridor connecting important parts of Indore with the airport and the Indore-Ujjain Road. The area has emerged as a prominent residential, commercial and IT destination because of its planned infrastructure, wide roads, improving connectivity and proximity to major IT campuses. It offers flats in Super Corridor Indore, residential plots, row houses, commercial properties and rental accommodation.

Super Corridor is located along the Indore-Ujjain Road and extends through an important growth zone of eastern Indore. It provides connectivity towards Indore Airport, Vijay Nagar, Rau, Ujjain Road and other major parts of the city, making property on Super Corridor Indore attractive for both home buyers and investors.

Super Corridor Indore is developing rapidly because of planned infrastructure, IT and commercial development, residential projects, road connectivity, airport proximity and improving public transportation. The presence of major employment hubs has also increased demand for flats, apartments, rental homes and commercial properties in Super Corridor.

Yes, Super Corridor is becoming an important residential area in Indore, particularly for families, IT professionals and property investors. Buyers can find 2, 3 and 4 BHK flats, residential plots and independent housing options along with access to schools, hospitals, workplaces, retail facilities and major transportation routes.

Super Corridor can be a suitable location for families looking for modern residential projects in Indore. New housing developments offer features such as landscaped areas, security, parking, recreational spaces and community amenities. Its improving connectivity to schools, hospitals, workplaces and other city areas adds to its residential appeal.

Property options on Super Corridor Indore include residential flats, apartments, residential plots, row houses, independent homes, commercial shops and rental properties. Buyers can choose between ready-to-move homes, under-development projects and land parcels depending on their budget and investment objectives.

Important destinations around Super Corridor include Indore Airport, major IT campuses, Vijay Nagar, Ujjain Road and several residential and commercial developments. The corridor's location provides access to employment hubs and important parts of Indore, which is one of the major reasons for increasing residential demand.

Super Corridor has connectivity towards Vijay Nagar, one of Indore's major commercial and residential destinations. Travel time depends on the exact location, traffic and route, but the corridor's road network provides an important connection between the eastern growth areas and established parts of Indore.

Super Corridor provides convenient connectivity towards both Indore Airport and Vijay Nagar. The exact distance depends on the location of a particular residential project or property, but airport connectivity is one of the key advantages associated with properties on Super Corridor Indore.

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