Common Mistakes To Avoid When Investing in Real Estate

No matter how appealing returns on real estate investment are to the investor, the chances of making mistakes are always there. Therefore, its of imperative importance to know what are the common mistakes that should be avoided when making investment and choosing a project. This article serves as a guide for the investor in making safer decisions and reduce their risk to a minimal level.  Avoid these common mistakes when investing in residential and commercial properties and your journey to prosperity will bring stable return in the long run.  

1.Not Approved By Government Authorities

This is one of the most important points to note while investing in housing societies. A lot of newly launched housing societies are not approved by relevant authorities. They run extensive advertising campaigns on media and allure public to buy plots. Investment of people gets stuck in such projects. Government authorities usually stop developers of such housing projects from further developing the project.

2.Developers Known For Previous Undelivered Projects

Another key point to note while investing in housing societies is to check out previous projects of the developer company. If a company has series of failed projects which weren’t delivered due to any reason, people should avoid investing in such projects to make sure their investment doesn’t go to waste.

3.Developers Are Not Registered As Development Companies

It is very important to check whether the housing society a person invests in is a registered company or a project of a registered company. Housing societies whose developer is a solo person or even more than one person is much more likely to indulge in fraudulent activities as compared to registered company. A registered developer company has records in FBR, pays taxes and is a secure investment.

4.No Option Of Land Registry

There are many private housing societies which do not give the investors who have bought plots the liberty to register the plot as owner with land department of government. They only issue a transfer letter to people who buy plot from them. This can become problem for investors if in case a problem arises with owners of developer company or owners of developer company themselves are involved in illegal activities which make investors lose all money and fortune.

Conclusion

An investors investment in private housing societies is safe when they invest in Government approved housing societies whose developers are registered companies known for delivering successful projects and which give investors liberty to register plots in their names with land registry departments of government.

Grand City is Pakistan’s renowned, registered developer serving people in three locations of Punjab namely Kharian, Vehari and Arifwala. Grand City has to its credit successfully delivered projects, approved by relevant government authority with international standard amenities and facilities. amenities. Grand City is your safest choice for investment as a credible brand as it allows investors to register their plots on their names with relevant land registry government departments. So invest with us and make your future secure. Good Luck!

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