Buying your first flat is an investment and the decision is tough. You can’t just book a flat without thinking about the pros and cons of everything. The arrival of the best flats has cropped up again to make a decision. With many steps in the process, you can get stuck and create a costly blunder. Here is a complete guide for you so that you can have the benefit of preventing any mistakes when getting your first home.
Advantages of Purchase
If you are ready to put your foot down to buy your flat in Kolkata, you need to understand the benefits. The benefits are as follows:
1. Get a tax exemption of up to 2 lakhs of rupees on the interest paid on home loans under Section 24(b) of the Income Tax Act.
2. You will have a tax exemption of up to 1.5 lakhs of rupees under 80C on the amount you repay on your home loan.
3. You must pay the stamp duty fees and registration charges while buying your first house. You can get the charges decreased up to 1.5 lakhs of rupees under Section 80C.
4. 2.5 lakhs of rupees of tax exemption on rental income.
5. Re-investing your money on a residence from the sale of your first property can provide an exemption from capital gains tax under Section 54.
Affordable Choices
With the arrival of affordable new flats in Kolkata, you have many choices. However, Oswal Group’s Orchard Amritaya is considered to be the best option for new buyers.
It gets a little overwhelming, don’t just jump. Map your long-term goals and see whether your purchase is aligned with your goals. Like your goals, there are many things that you have to keep tabs on. The things that you have to consider before making the decision are as follows:
Financial Health
If you dream of residing in one of the best residential projects in Kolkata, you should study your cash flow statement closely. You have to know your expenses to keep track of your financial health. You can start saving very early and be realistic. Make sure to check your debt-to-income ratio because the ratio can pinpoint the reality. You must decide according to your financial health. Don’t just decide, as you may have to face future consequences.
Right Type of Property
Come up with the decision to buy the best new flats in Kolkata. Some properties suit your needs, and some don’t. If you are a single person who wants to buy a 3 BHK flat, the decision will be futile, but if you are a family of 3 people, getting a 3 BHK makes sense.
Lifestyle Issues
Buying flats in Kolkata has become a lifestyle choice. Buying a costly flat can be a lifestyle. You are buying something that is out of your bounds. You have to keep expenses in mind before buying your first flat.
Taking a home loan
Starting a loan after booking a property is easy, but you should pay for it. Don’t just choose new flats in Kolkata that are out of range, as the property would have to be delivered to you via a costly home loan. Choose a home loan that is within your income range.
Take help from the experts
If you have double thoughts about booking flats online, seek an expert and let him or her help you. These people are professionals and can be the best to provide aid. You don’t have to do it everything on your own, you will get a great deal of help from them.
Buy your first home
Ever consider what the buying process involves. The steps while buying your first flat are as follows –
Property Finder
Finding a dream property is difficult. If you have the pleasure of time, you can search for it yourself. If you don’t have time, try consulting your real estate agent. Look out for any listings highlighted in advertisements. You can also seek recommendations from your friends and loved ones. Now, you have the advantage of booking your flat online.
Financing Alternatives
Before buying homes in Kolkata, you have to answer how you are going to pay for your purchase. You can use home loans from banks. You can also try governmental schemes that help in financing. Don’t make any decisions hurriedly; keep track of your financial health and conclude.
Negotiate
After your finances are sorted, you need to negotiate the price. Start a dialogue with the seller of the residence. Before setting out to negotiate, try to do your research and come up with insights that will help you in negotiations.
Final Buy
After all the process of negotiating and preparing paperwork, you need to close the deal. Make sure to read all the paperwork and keep it safe for the future. You can close the deal yourself or let your real estate agent close it. Booking flats online has eased out the process.
Select the Foremost
After getting to know the entire process of the guide, it will be easier to decide this. Which project to consider is the question that keeps arising at this stage. Let’s ease the process by pointing out the best, Oswal Group’s Orchard Amritaya.
They are providing many luxury flats in Kolkata at their best residential project in Kolkata, with lots of modern amenities, and superb connectivity in an affordable range, along with an easy-going purchasing process.
Getting a new flat needs proper planning and smart decisions, and most people don’t have the time and resources to do so. Orchard Amritaya by Oswal Group is the best choice for you, regarding your first purchase. Take a look at them and buy your dream home. Happy Buying.
FAQs
Why Orchard Amritaya is the best residential property in Kolkata?
Orchard Amritaya has been providing buyers with the best in the class in everything. Whether it’s amenities or your living space, each and everything has been taken care of.
Is Orchard Amritaya affordable?
This housing project provides luxury housing within an affordable range.
What are the steps to keep in mind before booking a flat?
Before you book a flat, you need to assess your financial health, choose the right property that suits your needs, analyse your lifestyle, choose certain financial assistance and take the help of an expert. These are the steps to look out for before you head towards finalizing your property.