Things To Check Before Buying A Luxury Apartment in Mumbai

New housing projects in Mumbai are creating enticing options for investors looking for lucrative purchases to invest in. While most buyers of luxury properties in Mumbai would like to opt for villas and stand-alone homes, it is equally important to note the benefits of investing in big-sized luxury apartments before freezing their purchase. There is no point in falling for big-sized villas that incur regular costs and time inputs for the sake of day-to-day maintenance.
 

The following tips and advice will help you take a closer look at the various aspects of real estate purchase as you begin your search. 
 

Tips for Buying Luxury Properties in Mumbai
 

1. Budget
 

One of the primary things to remember when you are considering one of the ongoing projects in Mumbai is your budget. Even though you have big savings to back your purchase, you may have to take up a bank loan to fulfil your ambition of gifting a big home to yourself and your family. Never make the mistake of taking on more debt than what you can repay without getting stressed. You can always buy a bigger and more luxurious property later on.
 

2. Legal Angle
 

If you run a Google search, you will come across several developers and builders in India who may have taken their customers for a ride with unfulfilled promises. Save yourself from falling into the same trap by researching in depth about all the legal issues that may come in the way of your purchase. It is important to ascertain the credibility and reputation of the builders of your choice beforehand. They should not be tangled in legal issues or have any unscrupulous dealings to their name.
 

3. Square footage versus price
 

After you have shortlisted the builders who match up to your living requirements, ask for detailed site plans and floor plans. Also, ascertain whether the price asked for is for the carpet area or super-built area of the apartment. In general, the super-built area is about 30 per cent more than the carpet area. You will be paying for the carpet area that comprises the four walls of the apartment that you will be living in.
 

So, are you ready to go with these helpful tips and advice in place?