Five Tips for First Time Home Buyers in Ahmedabad

December 31,2018 in

Artistic ImpressionFive Tips for First Time Home Buyers in Ahmedabad

When thinking about Gujarat, Ahmedabad is the first city that comes to mind. In addition to its rich history, the large number of industries make it the commercial capital of the state. The overall high rate of development of the city has resulted in a real estate boom, attracting many first-time home-purchasers.

For those planning to make a similar investment here, we have listed down some tips that’ll make the process easier:

Do your research well:

In Ahmedabad, the prices of real estate depend on the level of development in the area. Areas like Paldi, Vastrapur, and Navrangpura are well developed where rates can be relatively high. New projects in Ahmedabad such as those near the Vaishnodevi circle on SG Highway could be worth looking into. Do your research carefully and select the location depending on your budget as it will help you to decide whether you should go for a 3BHK or 2BHK flat in Ahmedabad.

Simultaneously, check the facilities available in that area such as proximity to schools, colleges, hospitals, market areas and so on. Don’t forget to consider the project’s proximity to your place of work as it will help save a lot of time.

Check the developer’s credentials

Many real estate developers such as Adani Realty have developed luxurious 3BHK flats in Ahmedabad with projects such as Water Lily, Adani Meadows, and so on. These reputed builders in Ahmedabad strictly abide by the Real Estate (Regulation and Development) Act 2016 (RERA). This act has been formulated by the Government of India keeping the interests of the buyers in mind. Choose your developer carefully and always ensure that they adhere to the provisions of RERA.

Determine your financing options

First-time home buyers may need financial assistance in the form of home loans. Banks and housing finance institutions are available all over Ahmedabad to help in this regard. You should figure out your home loan eligibility and explore the various banks that you can avail a loan from. Taking a bank loan is also advantageous, as they do most of the hard work, such as verifying the title of the property, ensuring that developers adhere to RERA guidelines and so on.

Tax saving options

Availing a home loan entitles you to various income tax concessions under the Income Tax Act 1961. Ensure you consider those before purchasing the house of your dreams.

Be aware of the overheads

It is essential to remember that expenses are incurred in addition to the agreement value when you purchase a house such as registration and stamp duty, brokerage and maintenance. All of these expenses can increase your home acquisition costs.

We have discussed some crucial tips for first-time home buyers in Ahmedabad. Take advantage of these tips and invest wisely in a long-term asset - your home. There is a wide array of new projects in Ahmedabad to choose from, make a wise choice!

Residential Projects in Ahmedabad -

Amogha | Aster | The North Park | Water Lily

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The Adani Realty expressly disclaims all liability in respect to actions taken or not taken based on any or all the contents of this Blog. The content of this blog is collation of data from various sources and is provided only for information purpose only and Adani Realty does not canvass the particulars, information, brand or any other materials mentioned in the blogs nor does it obtain any monetary benefit from the same.The Adani Realty shall in no circumstance be held liable for any expense, loss or damage including, without limitation, direct, indirect or consequential loss or damage, or any other expense, loss or damage whatsoever arising from the use of data, information, interpretation, judgement or opinion arising out of or in connection with the use of this Blog. Reader is advised to read and apply his/ her intellect and discretion in this regards.

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