Discover Best Places to Live!

To sell your property faster, begin with thorough market research. Know the rates of similar properties in the area and neighbouring localities to set a realistic price. Find a bankable broker with a proven track record. Do not hurry, and be responsive to queries from potential buyers. Utilise online platforms, create listings, and post multiple pictures. Also, inform your family and friends as word-of-mouth publicity may help expedite the sale.

You may decide between selling and renting based on whether you wish to have a lump sum amount by giving away ownership or earn a monthly income as a rental while retaining ownership. However, both have downsides, like selling will invite tax implications while renting will require timely property maintenance.

Festivals like Diwali, Akshaya Tritiya, Gudi Padwa and Christmas are some of the most preferred times for real estate investment. Also, people consider buying around the closing of the financial year, i.e. before March 31. You may avoid selling during the ‘Shraadh’ month, as it is considered inauspicious in India.

Be aware of the prices of different configurations in the locality and neighbouring areas. Know the demand and supply of your property type and the prevailing prices. Also, know the circle rates set by the State government and any infrastructural development proposed like metro connectivity and expressway.

Always be clear about the reason for selling a property. Earning a profit, relocation, and family or personal concerns are some of the primary reasons due to which people often sell a property. Be realistic and set a reasonable price and timeline while selling.

Create a listing on property websites and utilise the space by posting a well-written description. Avoid long and flowery sentences and stick to crisp, shorter ones highlighting the USPs of the property. Focus on the property's offerings, connectivity, and social and retail amenities. Post several pictures and videos of the property.

Before deciding between buying and renting, you must analyse your finances. You can check the down payment and home loan plans if there is the slightest scope to purchase a property. While renting may seem economical; however, the amount spent on a monthly rental has no returns.

A security deposit is an amount charged by landlords from their tenants in addition to the monthly rental. It is taken beforehand to cover any damage caused by the tenant to the property. In case of any damage, the landlord deducts the requisite amount from the deposit and returns the remaining amount to the tenants at the time of tenancy termination or vacating the property. Usually, the deposit is equal to two months’ rent; however, it may vary across States.

Tenants generally have access to parking, clubhouse, gymnasium, and swimming pool facilities upon payment of a certain amount fixed by the maintenance committee of the society. This amount may be different from what an owner may pay. It is advised to include the accessible amenities and the prices charged in the rental agreement to avoid disputes.