10 Questions to Ask Before Buying a Luxury Property in India

10 Questions to Ask Before Buying a Luxury Property in India

The rise in the number of high-net-worth individuals (HNIs) and UHNIs in the country is driving the real estate market. A 2024 report by Anarock highlighted that several high-ticket deals were closed worth rupees 100 crore. Now, the reasons for these are many. The potential buyers are looking for capital appreciation in well-located regions like Goa, Mumbai, Bengaluru, etc. Secondly, they want to beat inflation and gain economic confidence while leading a legacy-rich rich with luxury. 

Additionally, the potential buyers these days are seeking not only modern architecture but also somewhere peaceful and amidst greenery. With the rapid technological integration in the real estate market in India, developers are crafting high-rises that are ultra-smart. But only a few eccentric ones realized that the buyers need the touch of nature and its beauty too, which will resonate with them during post-hustle hours. 

Addressing this unmet need, we at Anokha Estates have crafted some fascinating luxury tropical villas in North Goa with timeless designs and unparalleled ecosystems. We will discuss those in the later section of this blog. But prior to that, you need to understand how you can get hold of that dream luxury property that you have been yearning for in a strategic manner. 

To do that, you need to ask 10 important questions to your developer and get clarifications. So, let’s take a brief look at those questions.

10 Vital Questions to Ask Your Developer or Yourself for a Fruitful Luxury Property Deal

Is the location most likely to appreciate the property value? 

You should check the blueprint of the premises, floor plans, the locality, and the neighbourhood. Moreover, meticulous research has to be done on whether the locations have educational institutions, healthcare, retail outlets, and seamless commute systems or not. 

How is the quality of the construction?

If you are looking at an under-construction property, then you can already fetch your answers yourself. Otherwise, you need to ask the builder about the materials used right from the foundation to the roofing and finished windows.

What is the true cost of the property?

Luxury properties involve multiple costs apart from the actual building/villa/penthouse. Find out the costs that normally stay behind the curtains, like maintenance, development fees, GST, parking rent, and other statutory charges. 

What is the approximate delivery date?

This is yet another crucial question if you are seeking an under-construction property. Go through their history and seek information about their past projects. Ensure that you take everything in writing. Though this has been made easier with RERA compliance, one should still consider that the builder does follow those guidelines. 

What is the actual size/area of the property? 

Since the recent RERA update on the guidelines, it was established that properties are priced as per the carpet area of the same and not the built-up area. So, cross-check whether the actual property area is being considered for the asking price before finalizing your deal. 

Are the legal documents available or not?

Acquiring a property comes with many legal documents that establish you as the owner. This involves-

• The title deeds
• Property tax receipt
• Encumbrance certificate
• The release certificate
• Building Completion Certificate
• RERA Certificate and others

These are going to save you from future complications or unnecessary hassle. 

Is the builder a reliable one?

You need to ask this yourself and do your homework. Look for validations from their past projects. Ask around the locality/existing clients about their latest projects. Take feedback from people online, especially on social media. 

Are you getting amenities that justify the asking price?

A luxury property will promise a lot of amenities to you before your purchase. Sometimes, the high rates generally indicate the ultra-luxury features the property is offering, keeping aside the location advantages and its appreciation value. So, it is up to you to check whether you are getting the appropriate facilities like 24X7 electricity, pools, etc. 

Is the builder following sustainable practices? 

Your shortlisted apartment might be filled with smart amenities, but is it guilt-free? Will your stay generate excessive carbon emissions to spike the carbon footprint? These questions need to be asked. You need to check whether the developer respects nature, has proper waste disposal systems, etc. 

How safe and secure is the property and its surrounding locality?

Well, the culture of the neighbourhood surrounding your property is one thing, and the safety factor is another. Apart from that, make sure that your luxury property has top-notch CCTVs and other biometric features, which are governed by dedicated security teams. 

Now that you know the most crucial 10 questions that will help you get a favourable deal, it’s only a matter of time before you get a reliable developer. Do your homework. But if you are planning to buy luxury villas in Goa, then consider that your homework is already done. This is because we at Anokha Estates have already handcrafted the best villas for you. Choose us and get to enjoy the coastline, rich Goan culture and heritage, amidst nature’s beauty. 

Conclusion

It’s always better to ask questions and stay aware of what you are investing in. At the end of the day, it will be you and your family who will live in it. So, get a thorough clarity before it's too late. 

At Anokha Estates, we practice transparency and authenticity in our dealings. Moreover, we are known for our client-first approach, and all our projects are handcrafted to meet the exact needs of our clients. Whether it’s our aesthetic 16-villa Coco Baía at Pilerne, or it’s the serene Villa in the Palms, they all exude that classic Portuguese charm, highlight the tropical landscapes, bring artistic energy, and offer a hospitality and culture where you can lead a healthy and luxurious lifestyle. 

Reach out to us today to start a better lifestyle from tomorrow, right at the heart of Goa!