If you are planning to buy a house in Greater Noida & Noida and it is your first time then it is important that you understand the laws of this place thoroughly so that you do not end up in a mess. While buying your own house in Greater Noida & Noida, you will need to understand the laws of the land as well as the benefits that buying property here offers. The discussion below is an attempt to explain the same. Before you go ahead and invest in a property, you should understand the basic difference between Greater Noida & Noida freehold and leasehold areas. Earlier in Greater Noida & Noida, foreigners were not allowed to buy a property in the city and this is when the concept of freehold areas came in. Thus the freehold areas allow people from any part of the world to invest in property here. On the other hand, leasehold areas are those where property or land can be taken on lease only and cannot be purchased. Gaur City 4th Avenue Resale / Gaur city 5th avenue Resale / Gaur City 7th Avenue Resale / Gaur city 11th avenue Resale
The Government of India has set different rules for expats and locals looking forward to buy property. For instance, expats can only purchase Greater Noida & Noida property in selected communities that are known as freehold areas. Even though the expats can take a property on lease in leasehold areas for a maximum of 99 years but the ownership of that property will be given back to the landlord at the end of the lease period. While in case of the locals there are no such laws for of limitations for buying property in Greater Noida & Noida. Before you go ahead and invest on a property in Greater Noida & Noida, you should be clear about why you want to buy property here. If you are planning to buy a property here just for your personal use; then you will need to consider certain important things such as accessibility to schools, hospitals, restaurants and supermarkets. However, most of the expats buy property in Greater Noida & Noida just for investment purpose as here real estate investments come with several benefits like no tax, high rental yield, easy and transparent process and high capitalization of investment.
How credible and experienced the Realtor is whose project I am about to invest my hard earned money in? This will give you the confidence to invest your money with that particular Realtor. When was the construction of the building completed or by when it is to be completed ? Knowledge of this will not help you determine the quality of construction but will also help you plan out your finances. These are some of the important facts that you will need to consider when investing on a studio flat in Greater Noida & Noida or an apartment in the city. In case you are looking for financing options for your new property, you can even get in touch with the financial institutions and banks that offer attractive interest rates on home loans taken for purchase of such property.