Affordable housing: A checklist before you invest

Owning a house is every body's dream but the price tag plays a key role in determining where one finds the right abode. It is important for purchasers to be alert and ensure that they are getting a good value for their money. To help buyers in making decisions, we have listed some points to keep in mind while hunting for a dream house in the affordable housing segment.

Land determines the price

The affordability of a project is directly linked to the location of the land, which is a major determinant of its price. While off-beat locations have a price advantage and are not congested, they come with their share of issues too. These include: a)

Clarity of title

Land on the fringes of cities is generally bought from farmers who do not have clear land titles. Also, documentation for the land is often not readily available at the Panchayat level.

It is essential to ask the develop er for the title search report, which should then be vetted by a lawyer.b)

Land conversion

In most cases, since the land is purchased from farmers, it is compulsory for it to be converted from agricultur al land to non-agricultural land for the purpose of constructing residential projects. The cus tomer should ask the developer for a copy of the no objection cer tificate (NOC) from the town and country planning department of the state, certifying the change in land zoning.c)

Lack of infrastructure

To avoid being saddled with a place where basic amenities such as water and electricity are not available, the buyer should enquire about the laying of sewagedrinking water pipelines and electricity cables by the government de partments. It is also important to check that the internal infra structure is being developed si multaneously to make the proj ect self-sufficient

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About us

MCHI-THANE has always been very clear that fine housing complexes and shopping malls cannot stand in isolation. A great City is the sum total of great buildings, great infrastructure and great people. MCHI has been committed to growth of the real estate sector and is credited with the harmonious growth and rise in quality and standards of construction in Thane City in the past decade.

Its aim as an Association of Developers has been to seek rational rules and regulations which are uniformly applied across the board as this will to a great extent result in speedy construction, cost reduction, fair pricing and a push for better quality standards at par with the developed world, with a high level of transparency.

Contact
501, 5th Floor, Plot No - A-123/4,
Odyssey IT Park, Road No. 9,Wagle Estate
Thane (W) - 400 604, Maharashtra, India

Mobile : (+91) 9833 4583 23 
E-mail: mchithane@gmail.com