As real estate frauds/scams happen a lot in the Punjab state, the government is taking all preventive measures and strict action against all the violators. Being an aware citizen, you must ensure you save yourself from such frauds, whether it's an investment in the best flats in Ludhiana or Mohali or any other city in Punjab. There are certain factors one needs to keep in mind before putting their hard-earned money on the table.
From a location which is prime to a legally verified residential society, there are a lot of things that go behind buying a flat. When we talk about Ludhiana, one of the major industrial centres of Northern India, real estate is on the boom here. In recent years, many residential societies have come up at the Chandigarh-Ludhiana road, one of the primmest locations to buy flats in Ludhiana.
But not only in Ludhiana, but even in any other city of Punjab, you'll find developers promising you a ‘prime location', but they end up providing you keys to your abode in an isolated place.
However, here are some essential points you need to keep in mind while buying a flat in Ludhiana:
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Is the location really ‘prime'?
Many cases have been reported where people have been promised a new address at a prime location but delivered their dream house in an isolated area, mainly on the outskirts of the town, far from everything. So ensure that when you are promised a prime location, you get the best flats in Ludhiana! Because there are both rural as well as urban areas in this city.
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Make sure it's legal and verified.
The mushrooming of societies in Punjab has resulted in many builders adopting illegal means to construct and develop residential societies. Therefore, before you plan to buy flats in Ludhiana, make sure you do your groundwork and check whether the society is legally verified by the concerned officials. To be factual, numerous mandatory approvals are required, and the developer should also have No Objection Certificates (NOCs) from the concerned officials.
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Check if the property meets your requirements.
There's no point in investing in a residential society when you cannot get what you desire. When you plan to buy flats in Ludhiana, remember, it is a serious matter and comes with a price, literally! Never purchase property in a hurry. Carefully, take your time and examine the location, size of the property, neighborhood and other factors such as the value of the property tax etc.
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Possession on time. Make sure of it!
Many cases have been reported in Punjab, where possession is often delayed. As a buyer, you must ensure that you have a precise estimate of the timeline for possession. However, if such an issue arises, a developer asks for a grace period of six months, but there should be a valid explanation.
Being an industrial hub, the real estate in Ludhiana is very demanding, which is why one needs to keep certain factors in mind. After Chandigarh and Mohali, Ludhiana is one of the most sought-after locations to invest in because the best flats in Ludhiana are usually located on the Chandigarh-Ludhiana road, which makes it easily connected to the City Beautiful (Chandigarh). Moreover, the state-of-the-art highways have ensured that the distance between these two cities is only one hour.
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