Festive Season- The Season to Buy Property

With the arrival of festive season in India, it’s the time to act upon what you have been planning to do for some time now. Being auspicious, it is the time to invest in real estate. Even if you just want to sell your property, then this is the right time to do so as even the onlookers or fence sitters jump into the fray so you will get more options to ensure the best deal.

Post the details of your piece of real estate in Lucknow today on our website- online property.com, and see it sold quickly. Why invest now

In India, most citizens still ask their pandit ji (or priest) to look at planets and constellations for auspicious time before they make any big deal and what better occasion then the festivals celebrating Durga ji (Navratre), Shri Ram, Sita ji and Laxman ji (Dusshera) and Laxmi ji Ganesh ji (Diwali). Need more reasons to convince yourself of investing in a property in the city of Lucknow, here are some more for your consideration:

Most developers cut the prices of their product or offer buyers the option of not paying the EMIs’ till the time of possession or for 2 years.

Some induce customers by offering free modular kitchen, LCD TVs, gold coins etc.

Banks also cut the interest rates during this season.

Some banks waive off the loan processing charges fully or partially meaning more savings for you.

Various shops also offer discounts on home décor products and a new house gives you the reason to go shopping for them.

So whether you are planning to buy or sell a property or take one on rent/ lease, this is the time to do so and onlineproperty.com is the place to do it. Come to us now. You do not have any idea how to register on it; simply contact our customer care on 0522-4026175. And see your problems vanishing. Our agents are helpful, understanding and ready to help you with all your requirements. Our website is user-friendly and easy to use. So whatever your requirement is in this city of Lucknow, whether it’s a landed-property, or an apartment, or office space or shop, whatever it is, you just tell us your specifications and we promise to not leave you disappointed.

Have a good time this festive season a little differently. Come to Lucknow, and celebrate this diwali and dusshera with muslims. It would be an experience you would never forget.

Let this auspicious occasions be a beginning of a beautiful relationship between us. Come to us. We not only help you with acquiring the property; we also help you form the right associations. Our property advisors help you with everything from the inspection of the property to inspecting the papers and blue prints of the building plan and negotiations, to the legal paperwork involved while buying/ or taking a lease out on a building. 

All You Need to Know About Owning a Real Estate in Lucknow

Real estate is a legal term for a property that includes the land, building on it, and the resources in and around it. An investment in real estate and owning properties is a great monetary asset.

This business is dependent on the buyer, builder, and the property; and it doesn't end with just the buying or selling of property. The procedures like permission, evaluation of the property, legal agreements, any restrictions, rules and regulations of the local governing body are the dots that connect these three. Investing in real estate is a wise decision with great returns over time if executed efficiently. Otherwise it can be a major problem.

Most people believe that real estate agents should be approached only when they have to buy a property or sell their property to get a better market value. But real estate agents also help with renting out the property. They:

·         Hasten the business of property-deals.

·         They help to reduce the cost of completing the transaction to earn a profit to both themselves and the buyer/seller through negotiations.

·         They help to inspect the property and get concessions in case of any damage.

Contact us on 0522-4026175 for help with anything and everything with regards to property deals. Our agents have a deep understanding about the trends of the real estate market of property in Lucknow, and have a wide network of other real estate professionals, buyers, and sellers.

As per the advice of our experts, while looking for a property, keep the following points in mind:

·         Location of property. You may want to choose property that is within close proximity to public transportation, schools, shopping centres and restaurants. It will give you a better return also.

·         Your budget is the second important consideration. Decide on what you can monthly pay as rent or EMI. Never invest in a property out of your budget.

·         Finance and the price rent ratio (i.e. comparison of monthly rent with EMIs) and the impact on your budget should be considered if you cannot decide whether to rent a property or to buy one.

·         Investing in a property that has potential for profit is always a better investment. A property that needs some restoration work may be worth a small investment so that you can sell it for a profit later.

·         Buying real estate in a community/ apartment block/ or society is better as maintenance and upkeep cost of the building and its facilities (swimming pool, gym, park etc) are shared. Some builders also provide the buyers with option to model their house as per buyer’s choice.

For clarification on any of these or more help talk to us yourself on 0522-4026175. Our agents have a deep knowledge of all the locations in Lucknow and can easily help you find one of your preference as per your requirements and your budget. Whether to buy or rent a property is a great decision and it is better to take the help of an expert. 

A Checklist for Buying a House

Thinking to buy a property- whether a home to live in with family or for investment purpose or a commercial property- for business? The most important point to remember is that the decision to buy a property requires a long-term financial commitment. Knowing the right questions to ask or engaging expert advice can definitely help you make a sound investment for your future.

For all properties, age and design factors come last in the priority check. Basic checks should include:

·         Structural conditions of the property.

·         Electrical wiring and insulation

·         Plumbing

·         Alterations made to the original floor plan and whether or not these alterations have been approved by the local development authority.

·         Immediate and future maintenance requirements.

How soon you want to move in your property depends on your income in hand which you can comfortably pay as instalment, and on your decision to invest either in an under construction property or ready to move in property or resale property.

Some must-haves you should keep in mind while making a decision in this regard are:

Location:

·         Access to shops, public transport system, schools, hospitals/ medical centre, banks and other civic amenities services.

·         House should be in residential zone.

·         Office should be in commercial zone. It should be kept in mind if the investment is being made in a commercial property.

·         Drainage system of the area should be adequate to avoid water logging during rains.

·         Whether or not it is a traffic-congested area?

·         Power supply in locality is regular or not?

Lucknow, being the capital of the state of U.P., does not have the problem of power supply. Hazratganj, Chowk, Aminabad, Nishatganj, Paper Mill Colony are among the traffic-congested areas of the city, most of these being the office-hub or prominent market centres. You will have to pass through the roads daily to your office or business centre so do check out distance from your office and the congestion along the roads. Older Lucknow has narrow lanes and has some drainage problems, but the newly developed Lucknow including Vikas Nagar, Gomti Nagar, Aashiana and other apartment blocks still under construction do not have much problem in this regard.

Outside the Property:

·         Is the building structurally sound in appearance?

·         There should be adequate open spaces and common areas in residential property.

·         The project whether residential or commercial should have been approved by the government and other requisite authorities. There should be scope or further improvement/ expansion of the property.

Inside the Property:

·         Condition of the building should be checked- signs of seepage or structural damage.

·         Size of the house or shop should be as per your immediate and future requirements as it is not an investment one makes often.

·         Flooring should be intact and level and not lower than the street level to prevent flooding during rains.

·         Adequate natural light and ventilation.

·         Doors/ windows/ shutters are in working order or not?

·         Electrical fitments and plumbing of the building should also be checked. Get expert advice from electricians or plumbers to get it checked.

Legal Considerations:

·         NOC from water and electricity board should also be checked.

·         Check out the encumbrance certificates from the municipality and the owner in case or resale property.

·         Also ensure that lay out plan, building plan, number of floors, and ownership documents are in order.

Checking all these require expert advice. Don’t worry about looking for reliable experts. Come to us. We will help you throughout the process till you are satisfied. Contact us immediately on 0522-4026175 or info@onlineproeprty.in and see how we make you feel like nawabs in this city famous for nawabs.

Buying Property Made Easier

Buying a home is not a spur of moment decision but a decision taken after much thought, contemplation and research. If you are confused about which property would suit you better: a land with a house of your specifications, or a ready to move in flat or a flat under construction, then contact our agents on +91 0522 4026175. We will help you make the right decision.

 Here’s an expert analysis for those stuck in this jinx:

Ready to move-in flats: Ready to move-in flats are ideal for home buyers who are making their first property investment. This will save them from spending on rentals. The risk factor involved in this category in terms of delays and hassles during construction, is nullified, as the home buyer is getting a ready accommodation. The disadvantage of ready to move-in flats are their prices. They are pitched at higher prices in comparison to the construction and time plans. 

Flats under construction: Developers offer different plans to home buyers depending on the home buyers’ affordability and need. The return on investment in these projects is high as they are much affordable compared to the ready to move-in ones. This is ideal for home buyers planning to purchase their second home. The major disadvantage of projects under construction is delays, price escalations, variance from the planned layout, etc. Home buyers opting for these plans for their first home, will have to shell out money not just for their new home which is under construction, but also for their rental accommodation.

A property with land: These properties are relatively expensive as the cost of land is included in the deal. They are also hard to maintain as it is solely your responsibility to maintain it while in apartments you are responsible for the interior of your apartment only. If you are planning to take a loan to invest in real estate, then keep in mind that you won’t get a loan for the land. So be ready to arrange that money on your own.

The points one should keep in mind, when he is planning to invest in real estate are:

1)      Your budget: You might be thinking to take out a home loan but keep in mind that you will have to pay monthly instalments. So calculate your monthly expenses, deduct them from your monthly salary, then decide what part of the remaining salary you can pay regularly as instalments then decide on the property.

2)      The interest rate varies from Bank to Banks and are competitive thus you have more choices. You should also check other fees such as processing fee, documentation fee, and any prepayment penalty associated with the home loan. At the same time do research on the best option that banks offer. You should also get the maximum tax benefit from your home loan. Find out if you can make your spouse co-applicant and avail the tax benefits. You will simply double the tax benefits if there are two co-applicants.

3)      Builder’s track record: Check the name of the builder and do your research on how the builder has delivered in the past. Talk to people who are living in homes built by the same builder. There are sites such as India Property Review indian property review. This site has rating of building and housing societies. They also publish research reports on housing societies. The property should be such that if you want to resell it you can do so without any hassle. Buying from a reputed builder becomes important here.

4)      Legal papers and Documentation: You should get a lawyer who can search the associated documents before you buy the home. You should get everything in writing from the builder. The sale deed should be duly signed by both the buyer and the seller. You should also ensure that lay out plan, building plan, number of floors, and ownership documents are in order. Take legal help from a lawyer if you do not understand any document. Also, make sure to get the encumbrance certificates from the sub-registrar. It tells you the record of last 30 years. You should get this from municipality and from the owner too as he or she will have the receipt of the taxes paid. Also the NOC certificate from water and electricity boards has to be obtained.

5)      Location: The most important part of a real estate is location especially if you are planning  to resell it soon and pocket the profit. The most important aspect of the right location is future prospect of big construction such as mall, IT Park, company, SEZ, airport, railway lines, or any other commercial space. Apart from this, following points also need to be kept under consideration:

a)      Availability of civic amenities such as power, water, roads

b)      General environment

c)       Closeness to main road, markets etc.

d)      Possibility of renting out your home

For any other query or advice or help, contact us immediately on +91 0522 4026175

Lucknow- Property and Location

Lucknow is famous as the city of nawabs. Older Lucknow has got all the charm of the world. It still has retained its old world charm and the ‘tehzeeb’ it is famous for. But its laid-back attitude doesn’t mean that one can live here only after retirement to spend the balanced days of their lives in peace. There is a new Lucknow coming up side by side in the form of Gomti Nagar, Indra Nagar, Vikas nagar, Chinhat and other neighbouring colonies. 

Being the capital of the state of Uttar Pradesh, investing in real estate in Lucknow is an investment in a better future. These future implications have been recognised by many big builders resulting in a plethora of residential colonies having both Kothis and apartments coming up in various parts of Lucknow. The costs of these vary as per the location and area. 

As property is not something one invests in again and again, one should choose not only the property but also the location as per their nature:

·         You are a work alcoholic then look for a property in or in the neighbouring areas of Hazratganj or Chinhat. Chinhat is being developed as the industrial area and Hazratganj is the office-hub of the city. Neighbouring areas of Chinhat are Gomti Nagar and Indranagar and those of Hazratganj are Mahanagar, Nishatganj, Husainganj etc. Gomti Nagar is also connected to Hazratganj. 

·         If you are a shopaholic and like to spend time in malls, then look for a deal in Gomti Nagar or Hazratganj. Both have got high-end malls and multiplexes, though the property in Hazratganj will be costlier. Traffic jams can be a nuisance in this area though so if you want to avoid them and still shop a lot then opt for a property in Gomti Nagar only. It has got wide roads and large parks, so will be the choice of those who love to drive.

·         If you are a shopaholic who likes to browse the old markets, then you should look for your dream area nearby Aminabad or Nakkhas. Street market of Nakkhas every Sunday is a treasure trove for those who like to collect antiquities on bargain deals. 

·         Lucknow is the veritable home for all the foodies. It is the land of Awadhi cuisine. Taste the non-vegetarian cuisine of Lucknow and you will be forever comparing the food you eat anywhere else with its cuisine and find them failing miserably. It’s a benchmark. 

·         For the educationist in you, Lucknow has got many major research institutes including CDRI, IARI, NBRI. It also has University of Lucknow and Ambedkar University and many degree colleges including I.T. College for girls, which has been the alma mater of several bollywood actresses like Parveen Bobby.

So whatever your taste may be, this is a city for all. It’s a city of families. Lucknowites are recognised by their way of speech all over India. Invest in a property in Lucknow today, whether it’s a plot on which you can get built a house of your exact specifications or a flat in one of those townships being built here.