Zirakpur is a real estate goldmine for investors at the moment. Investment in the right product at the right time will definitely fetch handsome returns in the mid to long term.
However, It is important that proper due diligence is done before investing and some common pitfalls are avoided.
I am a real estate consultant who has been working in the Zirakpur real estate industry for quite a few years now.
I have seen some builders flourish and some perish, not due to the lack of money but due to lack of product planning.
Here, in this blog I write about the three golden rules of investing in a property in Zirakpur.
Trust but Verify
Some people by nature are trusting human beings. In an ideal world, such should be the case and we should be able to trust each other’s words without a doubt.
However, this isn’t an Ideal world.
Real estate sector has a reputation (and deservedly so) for being opaque and for being tilted heavily in the favour of the builders.
My suggestion for anyone looking to invest in a property is to verify the credentials of the builders before investing.
There are two ways to do it:
- You can visit the previously delivered projects by the builders. For example for the builders at Uptown Skylla, you can visit La Prisma and The Eminence.
- An easier method is to read the google reviews of the builder’s previous projects. However, it is pertinent to keep in mind that a housing society has all kinds of people and everyone’s experience can’t be the same. So any rating above 4 is considered a good rating in such circumstances.
Another way is to speak to professional real estate agents (such as myself) who could give you a good idea of the builder’s reputation and the prevailing market sentiment about the project.
You are not charged a fee for such a consultation.
You can get in touch with me here
I have written another blog post that is related to the topic at hand, You can read it here: Is this the right time to Invest in Zirakpur and Mohali ? An Expert Analysis-November 2020
Check the Infrastructure
There are two parts to a real estate investment. One, the apartment/showroom itself and two, the amenities, surroundings and the infrastructure around the project.
There are many areas in Zirakpur that have a lot of housing societies on narrow roads. Many projects are without STP, or proper sewerage connection, Water and electricity permissions etc.
The infrastructure of Zirakpur has not kept up it’s pace with the property development in the region.
The solution is to find new projects in upcoming localities such as the airport road.
These new projects are being planned in a futuristic way and infrastructure is not an issue here.
I have written a detailed blog post on Zirakpur for those who are from out of the city. This blog post will give you detailed information on Zirakpur and all the related aspects. You can read it here: About Zirakpur
Know what you want
Sometimes customers get swayed by the promise of discounting and expect unrealistic discounts.
If you like a property and the builder is good, do not let go just because you did not get your way with the discounting.
If there is a quality product and you like it, book it. Another common mistake customers make is that they get confused after seeing too many properties.
Ultimately, they have to postpone their decision because they do not know what they want.
My advice, shortlist the location, find a good advisor, and know what you want.
Do your due diligence and get your dream property.
I hope you liked this short blog and i was able to add some value with my thoughts.
If you have any questions you can easily get in touch with me on 6283060221
