Managing the Challenges in Property Purchase in Kolkata

Photograph: Lorenzo / Flickr

There are lots of people out there who think of buying their dream house, but they are held back because of one reason or other such as uncertain job market or high property prices. The decision of property purchase isn’t solely based on your need; you also have to consider your financial readiness before you decide to make the investment. When you are shopping for a house in Kolkata, one of the most prestigious Indian cities, you may be lured to a property by salesmen who offer you discounts and freebies. However, you can avoid being fooled by watching for some of the common sales pitches used by real estate agents.

Read on to find out the more:

  • ‘You can never go wrong with property’

The first thing that a real estate agent or builder is going to tell you is that real estate prices don’t go down. This isn’t based on facts because like other assets, real estate prices also have their own ups and downs; the only difference is that they aren’t as volatile as stocks or gold. It may be tempting to buy a house, but you should weigh the pros and cons of buying and renting both before making a decision. If property prices are high, it may be better to put off your decision.

  • ‘This is the most affordable project here’

If a new real estate project has priced 2bhk flats in Kolkata at a cheaper price as opposed to the going price in the area, it may not necessarily be a steal. This difference is probably because the size of the flat hasn’t been taken into account. In the past five years, there has been a decline in the size of the average real estate Kolkata so you have to be cautious and ensure that you aren’t compromising size for a reduced and affordable price.

  • ‘What you see is what you get’

This is neither true for the sample 2bhk flats in Kolkata that you see nor the price quoted by the builder. Builders hire interior designers for decorating sample flats and they just create optical illusions because they know how to use lighting and furniture to get the desired impact. Small beds and compact cupboards may be deliberately used for making the house seem bigger. Also, a sample flat is usually a standalone unit and may look completely different when surrounded by a cluster of flats.

  • ‘You can get your money back any time you want’

It isn’t easy to get a refund from a cash-strapped company. The sales agent hawking the property is just focused on getting the down payment. There is no standard for refunds as some builders may deduct 10% at the time of refund whereas others keep 20%. The only way to avoid losing out any money is to do your research before you book one of the 2bhk flats in Kolkata.

As long as you are on guard against these lures, you will be able to make a wise decision.

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