There are many schemes and offers when it comes to property purchasing. And they are even some rumors about the disadvantages of using such offers. Buyers often get affected by these meaningless accusations on these schemes. Similar to this are a variety of other myths associated with land flats in Mohali that must be debunked to form you a better property buyer/seller.
Myth 1: All Projects Are Covered Under RERA
The Real Estate (Regulations and Development) Act was implemented across the state in May 2017 and has transformed the way land transactions happen. It’s empowered the important estate buyers by adding transparency within the process. However, believing that each one projects are covered by RERA isn’t what smart buyers should do. Not all projects are covered under RERA because it has set some thresholds and projects not falling under them don’t get RERA registration.
Myth 2: Real Estate Agents became Outdated
The next big myth about the real estate industry is that land agents became outdated and that they cannot help in property transactions. Real estate agents help in purchasing the flats in Mohali and make things easier. However, the role of land remains critical during this industry. They assist find a property with all the precise requirements, negotiating between the 2 parties, study and pass information about the market trend, and whatnot. They are conscious of the bottom reality.
Myth 3: Metro Cities Are Best for purchasing Homes
The majority of the house buyers, especially those looking to urge high returns from their property investment, consider metro cities or the Tier cities like Mumbai, Delhi, Chennai, Kolkata, Bangalore, etc., for such investments. It’s a general belief that property in such cities would only fetch returns.
While buyers believe that metro cities are the simplest for investing in property in India, the return potential is far higher in Tier-II and Tier-III cities now. The Tier-I cities have reached their full potential but Tier-II and Tier-III cities have really high growth potential. One can purchase property in such cities at a lower cost and because the land of the cities develops further, the worth would escalate soon.
Moreover, the govt is now that specialize in developing these cities into smart cities and investment in them might be pretty lucrative.