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Ready reckoner for home buyers - Buy properties in India
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Ready reckoner for home buyers - Buy properties in India


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RealtyCompass is the largest real estate website offering listings of residential properties in Chennai, Hyderabad, Bangalore and Coimbatore, India. You get access to detailed property descriptions …

RealtyCompass is the largest real estate website offering listings of residential properties in Chennai, Hyderabad, Bangalore and Coimbatore, India. You get access to detailed property descriptions and information for free. You can call the builder directly from the portal. So, if you are looking to buy a property in Chennai, Bangalore, Hyderabad and Coimbatore, use our intelli-search to find your dream property and buy a property without any hassles. We also offer value added services like Home Loans, Interior Solutions, Legal Consulting, Home Automation, Packers and Movers, etc to help you get a one stop home buying experience at You can get exclusive discounts and deals on few selected properties as well on a regular basis, thus giving you the cheapest option for buying your dream property at the desired location and budget.

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  • 1. Nimesh Bhandari, Chief Marketing Officer
  • 2. Home Buying – A Lifetime Decision!     Home Buying is one of the most complex buying you will undergo in your life Typical Home Buying cycle may span from 1 year to 6 months Home Buying will have both short-term and long-term implications – so proper planning & guidance is must Keep a buffer for unknowns before making a final decision – school change, job change, location change
  • 3. Define your Requirement  Before you start your house hunt – define your requirement very clearly  Investment or Stay  Ready-to-move-in or Under Construction  Required Configuration (2bhk/3 bhk)  Budget – Upper cap & Lower Cap  Your taste – Amenities, floor plan, fixtures    Use your best case judgment in case the longterm situation is not clear Investment or Stay – Consideration of appreciation of property/area paramount Pre-Approve your loan. SBI Always the best
  • 4. Identify your preferred location  Identify the boundary of preference  Area close/equidistant from office and school  Self sufficient area  Proximity to Railways, Airport  High growth area – potential of large office spaces  Identify 2-3 Alternative areas  Future benefit of stay  Upcoming school / office spaces
  • 5. Ready to move-in vs. Under Construction!  Buying from Builder vs. person  Buying from builder less hassle free (legally)  Factor in delay in possession from builder  Current Free Cash Flow vs. Future Cash Flows  Higher initial amount (on top of loan)  Additional immediate expenses – registry, furnishing  Do the Math  Rent paid vs. Interest differential as loan disbursement immediate in ready-to-move-in  Factor in delay in possession
  • 6. Create Exhaustive Pipeline  Do extensive Online Research  Typical property prices in locality  New launches in locality  Compare properties online  Select properties which matches your criteria  Project / Builder Check  Call Builder - Get more information about price, additional charges, loanability  Look for builder reviews / past project deliveries online  Eliminate properties which do not meet your criteria
  • 7. Be Ready for Site Visit  Fix an appointment  Call builders and fix an appointment for site visit  Have all decision makers ( wife etc.) be part of site visit  At the site- Check for construction quality, pace of work  Sample flat – Be wary of interiors. Double check what all you would get as part of completed flat  Check for Open spaces, green area, efficiency of flat  Check for all additional charges. Negotiate on rate  Survey the surrounding area – nearby schools,
  • 8. Create your Kiss list  Have a list of 4-5 can-buy projects  Visit past projects from these builders to check construction quality  Estimate growth/investment potential of all projects  Compromise vs Comfort: Think about the longterm impacts of compromising?  Price vs Appreciation. Think Long-term  Do a hygiene check of preferred properties  Sanctioned / Bank Approval  Should not be near railway line, sewage etc.  Approach road – if not good, plan in place
  • 9. Bank Loan – Delve into details!  Bank Loan – Low Interest vs. speed.  Preferably go with banks who have approved property  Branch of loan issuance – some states have additional stamp duty ( Noida vs. Delhi)  Loan always floating (x + PLR)  Negotiate on rates (x). Talk to branch manager  Go for EMI with principal deduction (even at part disbursement)  Opt for loan insurance  No penalty on early repayment  SBI
  • 10. Zero in your Dream House!  Look at the payment schedule  Construction linked preferable  Subvention scheme - If you think builder can deliver on time. Do the math!  Zero in your dream house  Analyze and summarize  Compare on Comfort, Appreciation Potential, Construction quality, Location  Weigh and Give marks  Believe in your Gut!  If ready-to-move-in, hire a lawyer and get documents checked
  • 11. Final Deal!  Final negotiation  Car parking -Take additional. Price negotiation  Lumpsum discount on booking. PLC Waiver  Legal Check  Read the Builder buyer agreement carefully  Read Bank loan agreement clearly  Hire a lawyer – must for secondary purchase  Go through terms related to Club charges, maintenance charges, generator charges, car parking  Read through flat specifications and dimensions  Penalty clause of builder on delayed delivery
  • 12. Document Check – Secondary Purchase!  NOCs  NOC by bank if current owner has taken a loan  Loan closure certificate from another bank if loan was transferred  NOC and no-dues from the RWA  NOC from Builder of no-dues     All previous receipts paid to Builder Property Registration document/ Deed Letter of Allotment by Builder to seller Id proof of seller, PAN Card of Seller
  • 13. Negotiating a Secondary Purchase        Know the current rate in the area Understand the reason of selling of seller Clarify all additional expenses apart from house price – legal, registry, NOC etc. Have clear understanding on what you will bear and what the seller will bear Inspect the flat and evaluate the cost of fixtures, cost of refurbishing the house Have everything documented. Have a witness before you give initial cheque. Get your buyer-seller agreement vetted by
  • 14. Dos and Don’t - Interiors!         Do the furnishing, electrical, plumbing first and then go for paint Furnishing – Don’t use inferior plywood in order to save cost Contracting better if you have no prior experience – Give contract to plywood supplier Split AC Arrangement – Call for an expert Inspect and make all necessary arrangements for appliances in next 1 year If termite treatment to be done – do before paintwork Paint – Get putty done for long last if walls are not smooth Tile work – Not every expensive and gives additional beaty to your house
  • 15. About RealtyCompass  is the India's first ever property search engine facilitating consumers to search each and every project in their city. It is present across 5 cities in India, and expects to launch in 10 cities in next 6 months. RealtyCompass is a team of 25 bright people comprising of people from premier institutes (IIT, IIM, CA). We are rapidly expanding and looking for young talent.  Built on a simple idea of providing consumers with accurate and exhaustive project listings in the city, RealtyCompass is a unique offering for both consumers and builders.
  • 16. The Proposition Consumer s A Comprehensive Platform for consumer to search every project in his city and buy a right home @ right price by reaching out to builders Builders A pay-per performance platform for every builder to reach out to his target audience with very high conversion ratios India’s first ever Property Search Engine
  • 17. The Current Market Gap Problems faced by home buyer  Unavailability of single platform with exhaustive list of every new project  Outdated information leading to high search cost for consumers  Elimination of projects based on information available online Problems faced by builder  High cost of acquisition of leads  Absence of pay-per-performance marketing medium No efficient marketplace to address the needs of consumers and builders
  • 18. The Solution  Create a Market-place where the information is accurate and current  Dis-intermediate brokers, by creating a connect between builders and brokers  Simplify Online House Search by capturing value-added data of projects/builders – past projects, %common area, construction quality  Help Builders reach to right audience by creating a transparent marketplace
  • 19. Our Philosophy Provide Consumers with exhaustive and accurate information to help them make informed decision Our Philosophy is echoed by…. Provide Consumers with exhaustive and accurate listing of restaurants Provide Consumers with exhaustive list of hotels along with consumer ratings Provides Consumers with exhaustive list of service providers with consumer ratings