Real estate is one of the most globally recognized sector. With the conversion of towns into cities and more number of start-ups and MNCs setting up their project in India, the Indian real estate sector has witnessed high growth in recent times with the rise in demand for office as well as residential spaces.
With this growing trend, investment in real estate has emerged as the most privileged way for buyers to target higher returns with significant tax exemptions.
We take a look at certain pointers that could ensure maximum returns while selling a property:
Evaluate The Worth: A realistic valuation of the property should be done based on the current market values. The valuation could be a self- assessed or a property dealer who helps in determining the prevailing market rates could be consulted.
Find A Prospective Buyer: Finding a prospective buyer is a very important step. It could be done through advertisements in newspapers or on social media and websites. Sometimes a professional broker seems to be helpful. However, one should be careful in broker’s selection; a reputed consultant with good track records only be considered.
Doing it right at the very beginning: Location selection for investment is critical. It will majorly decide the potential property growth and appreciation values.
Property management: It is the operation, control, and oversight of real estate. For example, a house as a property should look neat, tidy and spacious. Maintenance of this property could increase value and help in selling at maxima.
Infrastructure amenities the key for valuation: The key for property valuation is its cost and amenities provided in that cost. Good roads, connectivity, power amenities, sewage and water connections, telephone connectivity are some the musts for a good valuation of the property. Added features, such as retail outlets, supermarkets, hospitals, schools, club-house, swimming pools, kids play area, gardens, walk-ways, giving better valuations.
Has scope for business and companies: Always be alert about your area where large companies or corporate are relocating or already exist as this would indicate their need for space. Obviously, its employees would also need residential space near office, contributing to the rise of real estate value.
Selling property in India is more difficult than buying one unless you know of people who are willing to give a good price for your house. A property broker could help you in fetching a good deal with his wider reach and deeper insights about the local real estate market than an individual seller. However, do a thorough check before approaching one and do not be guided simply by what he says. Listing your property online for sale is also a good idea.
Also, to ensure that seller’s book profit in the transaction, one has to be aware and be updated of the current market trends, which will help you quote the ‘right’ rate of your property.
Author: Arun Kumar is founder and managing director of Casa Grande Pvt. Ltd. Views expressed here are personal
Credits Financial Express