We have choosen an ongoing project from one of the reputed builders based out of Banglore “the silicon city of India” and I am pleased to share some of my experiences during the process of booking until signing the sale agreement of the flat. Below listed is the basic information on how to plan and what are all requirements that one should be aware before investing on properties. This may help someone who wish or plan to buy an independent house or a flat. Kindly skip if you feel this topic as irrelevant at this point in time. Thank you.

Basic check list for choosing the flat:

1. Decide the budget

2. Choose the location

3. Research on builder reputation

4. Site visits (can be multiple)

5. Review, research and word of mouth can be better option

6. Check list of clear titles of the property (Land documents)

Here is a list of crucial documents that must be verified while purchasing an under construction property: Bangalore specifically

1. Sale deed
2. Completion/Occupancy certificate
3. Building/Plan approval
4. Encumbrance Certificate
5. Mutation certificate
6. Tax paid receipt
7. Khata
8. NOC from Builder, BWSSB, BESCOM, etc
9. Approval from local administrative bodies such as BBMP, BDA, BMRDA, etc

Below link has the information about clear title and on what type of documents to be verified while planning to buy an underconstruction apartment.

https://www.quora.com/What-are-the-documents-needed-to-check-before-buying-a-new-flat-in-Bangalore/answers/225228516?ch=10&share=e31a0237&srid=ta8t2

Below link is highly recommended to go through on how to plan your home loan with less EMIs effectively. This is from one of our co-blogger Mr. Lizo from the page Mango People.

How to reduce the home loan EMI

Below details are all about my personal experiences on how the financial problems impact one’s lives in long term if self earnings are not planned and spent appropriately. One must be self conscious while spending hard earnings carelessly and ensure to use only on useful and worthy choosing to be offerdable. Please skip if you feel irrelevant.

I feel proud to share this big news but there’s something else bigger side of my bitter experiences on how we spent on unnecessary things which caused us a long term financial trouble. This was because of insufficient knowledge or inappropriate plannigs ‘cos of someone else’s force or desire of constructing a house in the village just for a kind of guest visits once a year and no one had plans to go back and settle at the place they left 40 years ago and availing personal loans on some emergency needs, instead we could choose other options. Personal loan interest rates are very high compared to other ones. I may pen a different post on these.

Life always throughs at some sudden surprises as a test or to show it’s taste of sweetness or bitterness. Of course that’s what the meaning of life which makes us strong and serene through coming days. After years of struggles with the grace of God, I am on the track with greatest lessons learnt that this beautiful life taught me and I am thankful to God first of all for showing me the right path to do something for myself and my little family first time ever apart from basic necessities.

During my 10 years of professional career, I only know how much I earned but the expenditures by those who were fortunate to spend and fulfill their needs ‘coz I only had to abide to some weird customs and forced adjustments for helding an accountability being a common woman with multiple roles. It’s again a vast or waste topic and I don’t want to dump your heads with my personal stuff but to make you all alert on such plans and decisions that you make with your own earnings. We must have right to spend on things which are worthy and not for the sake of others.

All these experiences have really gave us better knowledge to take a step forward to plan and purchase this flat with offerdable EMIs keeping some back up arrangements in mind apart from current jobs we are earning from, which are no guaranteed as automation is hitting many lives. Of course we can keep up these things by upgrading ourselves to the changing technology and I am in plan too.

EMI Back up and planning:

1. Firstly we have choosen a project which has offered no Pre-EMI cost until the possession

2. After possession with guaranteed rental returns of the same flat which is equal or more than our EMI

3. Our Mumbai house which is already helping us with some rental returns

3. Along with above, one long term SIP investment that we have already started 5 years ago which balances the interest rate of home loan

4. Making sure to clear any other outstanding loans or EMIs by the time of possession to ensure we will have only one loan with less burden

Note: Today is a special day not because I born but b’coz my parents have choosen a random date to be my birthday that’s what is the 1st August. My life has so many weird, special and unique things ha ha…Only God knows when, why and the reason of my birth but it has a great meaning to be a blessed Mom of 3 years old pretty Princess and this life is just to battle & survive only for her. Another special day is International Friendship day. Wish you all a very happy friendship day.

My Garden of thoughts and feelings, sow a seed of good deed if you visit. Thank you, Suma ✍❣