Second Home in Delhi NCR
1. What should be the areas of focus in terms of amenities in a project or apartment?
As an investment option, the buyer needs to look at the amenities that are going to be a part of the project once delivered. Since the second home purchase is generally for investment purpose and once delivered it will be reaping rental income for the investor, the buyer needs to ensure that the project has good amenities like swimming pool; separate kids play area, club, gym etc. These amenities are a good tipping point for families who are looking for house on rent. They add value to your property and help you in quick rental deal.
Also, second home is purchased by joint families who are looking to live nuclear due to long work travels. For these kinds of buyers, it is essential that they invest in a property that gives high security and surveillance, beautiful landscaping and good connectivity.
2. Which areas in the region are most suitable to buy a second home at?
There are a variety of options in the real estate market, you can have second home in the city and lease it with a steady income filling up your assets. Delhi NCR is a growing market and the real estate sector is picking up momentum in the resale market. Areas like New Gurgaon, Golf Course extension in Gurgaon; Central Noida, Greater Noida Expressway, Noida Extension locations are gaining traction from the buyers for second home investments.
Since the sole motto is investment, buyer prefers the projects by trusted builders who have delivered good quality before and have good expected rate of return in future. The areas that have high infrastructure development plans with good connectivity, metro accessibility, proximity to corporate and retail hubs are always the safe bets to invest for long term.
3. Other legal issues that the buyer should keep in mind while going for a second home.
As a buyer, you must conduct proper research about the property and avoid any impulsive decisions based on the marketing gimmicks by the builders. While buying a second home, one needs to keep in mind the credibility of the builder and the delivery date promised. Also the buyer needs to do his research and check the project viability and whether the land deed and other title deeds are clear. Also one needs to consider if all the necessary approvals have been taken by the builder for the said property that the buyer is willing to invest in.