Top 10 Checklists Before Buying a Flat or Apartment in Thrissur

30/12/2024

Top 10 Checklists Before Buying a Flat or Apartment in Thrissur

The city of Thrissur, often dubbed the cultural hub of Kerala, serves as a major real estate investment opportunity thanks to its residential terrains, infrastructure, and rich history. But buying an apartment or flat is a big decision, which one has to think through in detail. Thankfully, the following elaborated guide serves to be helpful by providing crucial information in the form of ten points addressing different components of the deal.

1) Choose the Right Location

Out of the many points worth taking into account when buying a flat, the more central one is its location. In Thrissur, one can easily locate areas with the best amenities and peaceful surroundings, along with good transport links.
  • Try and find a flat that is nearby bus stations, schools, supermarkets, and hospitals, just to name a few.
  • Take note of the neighbourhood so you are sure whether it is safe for you to settle in.
  • One, if not all, form of public transport should be easily available and accessible so it would be easier for you to commute every day.
A good number of urban areas like Guruvayoor, Punkunnam, Koorkenchery and Ayyanthole come with a number of transportation options, which make them a better option to live in.

2) Research the Builder’s Reputation

The builder of the property determines the trustworthiness of any transaction and makes life a lot easier; hence, the role of builders cannot be undermined.
  • Make sure to check the history of the builder. Check whether they complete the projects on the agreed-upon date and whether they maintain the required quality standards.
  • Go and visit completed projects where such residents resided to inspect the quality of construction and find relevant feedback.
  • Look out for RERA registration, signifying that the particular builder meets the legal and safety requirements that have been set.
It is essential to work with a recognized builder who would help mitigate worry while protecting the investment.

3) Legal Clearances and Documentation

Completing an in-depth legal check is an important process when looking at a particular property to ensure that no complications arise at a later stage.
  • Verify the title deed to ensure the property is free from legal encumbrances.
  • Ensure all necessary approvals, such as building permits and environmental clearances, are in place.
  • Confirm RERA compliance for the project, which guarantees transparency and accountability.
Legal documentation, including sale agreements and ownership transfer processes, should be reviewed by a qualified legal professional.

4) Budget and Financial Planning

Deciding beforehand how much money to invest mitigates financial strain and empowers better decision-making.
  • Consider the total cost, including registration charges, stamp duty, maintenance fees, and interior furnishing expenses.
  • Explore home loan options and evaluate their interest rates, repayment tenure, and eligibility criteria.
  • Keep a contingency fund for unexpected expenses, such as renovations or additional charges by the builder.
Planning your finances effectively ensures you can manage the purchase without compromising your lifestyle.

5) Check the Quality of Construction

Construction quality is essential when analyzing a flat or an apartment, as it is a long-term investment.
  • Visit the property site and inspect the materials used, including bricks, cement, and steel reinforcements.
  • Have a good look at the plumbing, electrical work, walls, and flooring for errors and issues.
  • Make sure to analyze the wiring systems and the structures in place, including the secure-volt fire exits and the earthquake-resistant ones.
Investing in strong construction means lower maintenance costs in the time to come.

6) Evaluate Amenities and Facilities

Modern apartments come with various amenities that enhance your lifestyle. However, it’s essential to evaluate their usability and maintenance.
  • Essential facilities like 24/7 water supply, power backup, and waste management should be prioritized.
  • Check for additional amenities such as gyms, swimming pools, children’s play areas, and clubhouses.
  • Enquire about maintenance charges for common facilities and ensure they are reasonable.
These amenities not only improve your living experience but also increase the property’s value.

7) Understand the Carpet Area

Builders often advertise the super built-up area, which includes common spaces like lobbies and staircases. However, the carpet area, which is the actual usable space, is what matters most.
  • Ensure that the carpet area meets your requirements, especially if you are moving in with family.
  • Compare the cost per square foot of the carpet area with other projects in the vicinity to ensure fair pricing.
  • Ask the builder to provide a detailed layout plan specifying the carpet area.
Understanding the exact usable space ensures there are no surprises later.

8) Analyze Resale Value and Market Trends

Buying a property is not just about current needs but also about future returns. Thrissur’s real estate market has shown steady appreciation over the years.
  • Choose a flat in a developing area with high growth potential, as this enhances resale value.
  • Check upcoming infrastructure projects like metro stations or commercial hubs near the property.
  • Consider rental income potential if you plan to lease out the apartment.
Investing in a strategically located property ensures a profitable resale or rental return in the future.

9) Evaluate Connectivity and Infrastructure

Infrastructure development around your flat impacts your daily life and the property’s future value.
  • Thrissur offers excellent road and rail connectivity. Ensure the property has easy access to main roads and transport hubs.
  • Check for well-maintained roads, drainage systems, and uninterrupted electricity and water supply in the area.
  • Evaluate the presence of green spaces, parks, and recreation areas in the vicinity.
Good connectivity and infrastructure enhance both the livability and resale potential of your property.

10) Possession Timeline and Handover Process

Occupation timeline is very important if you are buying an uncompleted flat. Any delays in this period can cause a lot of stress and inconvenience to you.
  • Check the deadline of the project and see if there are any penalties for people involved in the project in case any work is left undone after the deadline.
  • Visit the site periodically to monitor the progress and ensure the builder completes the necessary tasks within the anticipated timeframe.
  • During handover, ensure that all agreed-upon specifications have been fulfilled. Also, check the flat to see if there are any defects on the flat.
If the handing over process is done professionally and smoothly, then you can consider your job done since moving to your new flat is free of hassle.                                     Also read: Top Benefits of Investing in Flats in Thrissur

Conclusion

Acquiring a flat or apartment in Thrissur is a milestone that is normally accompanied by precise research and planning. Following this checklist guarantees one an easy time while buying the apartment and good returns on their investments made. Westfort Realtors is one of the builders that you can trust while considering flat in Thrissur. We have also excelled in building high-quality apartments and flats that are suitable for today’s busy lives while still maintaining the culture of Thrissur. Westfort Realtors showcases an assortment of residential plans. Our flats are built to prioritize quality and comfort and are the best choices whether you’re looking to invest or move in yourself. Invest in the beautiful city of Thrissur today!

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