Things to keep in mind before investing in a property in Mumbai

July 26, 2020
Things to keep in mind before investing in a property in Mumbai

In a city like Mumbai, investing your wealth in a property can be a wise move, provided you do sufficient research before finalizing the deal. With the demand for flats in Mumbai increasing on a daily basis, it has been observed that many investors have invested in various under-construction projects, that either do not get completed at all, or the completion is delayed by years in the end.

Check the paperwork:

Before investing in a property such as a 1 BHK Flat in Vile Parle, ensure that you ask the owner or developer for all the paperwork, to confirm if they have the required clearances to carry out development work on the property. It will also help you understand whether or not the title of the property is cleared, as future title disputes can put your investment at risk.

Seek legal help:

If you know someone who is a property expert, then running the property documents through them will help you get a better understand of whether or not it is worth investing in that property. You can even go ahead and consult an advocate, who will do the required checks to ensure that the property is not under dispute or litigation. Advocates are known to check in every court in the city, in order to ensure that there is no legal dispute on that land and while the fees of the advocate may cost you a few thousand rupees, it will go a long way in ensuring that your investment is safe.

Invest in a reputed brand:

While flats in Mumbai do not come cheap, it also needs to be noted that the city is witness to a lot of fraudulent property transactions, which, over the years, has caused many home seekers and investors to lose their wealth in these investments. It is also a widely accepted fact that most of these fraudulent deals are carried out by small-time builders and developers, who are known to take a booking amount from investors and then flee the city or country altogether. Investing in a reputed and renowned brand such as VijayRaj will ensure that not only is your wealth in safe hands but that you get possession of your flat within the stipulated time frame, with complete transparency at every step.

Investing in a property is a major decision, one that you hope to reap the benefits in the future and we at VijayRaj assure you that when you invest with us, you can only expect the best.