Monday, 12 August 2013

Kozhikode, a new chip in the Realty block

 Kozhi kode or Calicut as it is commercially known is the third largest city in Kerala. It was dubbed as the major trading point of eastern spices. It connects itself to three major cities Mumbai, Palakkad and Mysore. It also proudly manifests many leading educational institutions such as Indian Institute of Management, Kozhikode (IIMK), National Institute of Technology and many more.

But are these burgeoning advancements and developments; the only steering factors for you to buy Property In Calicut? Well, there are many other features that a buyer must be cautious or wary of, like the following:

Return on Investment:
While those who buy flats or apartments in Kozhikode with a view to earn return on investment then opt for the moderately priced, non-descript and decent location. According to trade analysts such areas fetch higher rental values and higher returns with similar risk as of property in high-end areas. In the posh colony the rental value are high and therefore less demand and subsequently less return on investment. So do your research and find the property that will provide you with higher cash flows.

Look your pocket before plunging

Affordability, let your real estate agent take the driver’s seat in this matter, divulge all the information about your finances related to property to your agent. Let him know the amount that one must be paying as advance and how much you will be taking up from the bank or the market. However, the investor before taking loan from bank or any other mode of finance must calculate the interest rate and the effect of its dynamism on the principle amount that he/she would be paying. Therefore pre-plan your finances before investing on Real estate in Calicut.

Goodwill of the builder

If one is investing in the property which is yet to be completed then be sure of the market standing, credibility and completion and success ratio of the realtor. One can also get to know about the fiscal standing of the realtor through the bank as some of them approve loans to patrons as per budget. Trade pundits have this that the realty market in Kozhikode is on the boom, on the realtor’s end know that your patrons are pre-approved. Since Property in Kozhikode are available at the cost and interest rate that are quite low as compared to the properties in the other cities of the state. People may give higher down payment but disqualify for the mortgage. Finding a dream house is no cake walk, it is better to be cautious before than regret later.

109 comments:

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