With one and all interested in investing in an apartment in
Cochin real estate market it is but obvious we would go for a cheaper and suitable deal. An apartment which is under construction would definitely cost him much compared to buying one which is absolutely ready for sale. It is still prudent if as a buyer or investor you examine the certificate containing the commencement details of the entire work of the building and confirm and verify that the titles are clear and with specific terms. It is also imperative that as an investor you check that enough construction work is going on at the site by visiting the site on random days.
If a fully ready apartment is what you desire, in that case you have to examine all the basic features such as floor-finish, the type of paint used, necessary amenities, electrical fittings such as the switches used, windows, doors, other permanent fixtures, plumbing, and overall look of the common area. If you go for a home loan before purchasing the apartment, the actual repayment begins only after the financing authority disburses the final amount. But, at the same time the consumer will have to pay a pre-EMI until the very final disbursement is issued from the financing company, to the real estate promoter, who is building the apartment. In case of any delay in construction work the last disbursement also gets delayed accordingly, and the losses are incurred by the buyer by paying even more pre-EMI. These are problems not encountered in purchase of a fully constructed apartment as in these cases the process of repayment begins simultaneously.
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