why is it advised to Siri packets report buying from the shop what are the details you must see before buying the things?
Answers
Girish Agarwal, 45, has been trying to sell his house since February. He had bought the property five years ago thinking real estate prices would continue to rise at a fast pace. After struggling to find a buyer, he recently reduced the asking price. Still, there are no takers.
"Brokers say the sale may take some time as the market is going through a slowdown," he says. This is not the only issue he is grappling with. He is still to get the possession letter from the builder as the project has not got environmental clearances yet. The scenario was not so bleak when Girish had bought the property in 2010. Prices then were rising at a fast clip, making real estate one of the most sought-after investments. Things would not have been so difficult if he had not taken a loan to buy this property.
He also has to pay equated monthly instalments, or EMIs, for the house where he is living at present. With a major portion of his salary going towards paying EMIs, his finances are stretched. He wants to dispose of the second house as soon as possible. There are thousands of people like Girish who, in the hope of making a quick profit, buy a property without understanding their needs. Surabhi Arora, Associate Director, Research at Colliers India, says, "Property transactions take time. Do not equate real estate with the stock market in terms of exiting."
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