Factors to consider when buying a secondary market residential apartment in Gurgaon

1)     Clean title (therefore channel of sourcing the apartment and seller profile is important)

2)     Location, location, location

3)     Apartment Size, Price and condition

4)     Intra competitor prices (prices within the complex of same sized apartments) and Inter - competitor prices (prices of competitor apartment complexes in the same segment, location  and for similar sizing)

5)     Profile of Complex (crowd)

6)     Occupancy in the complex

7)     Brand of developer from the point of view of appreciation and long term liquidity outlook (even though it is a secondary market property)

8)     Capital appreciation potential in the short, medium and long run

9)     Liquidity potential

10)  Current rentals as something to keep in mind (although for residential properties in Gurgaon rental yields are low capital appreciation potential is more important)

11)  Negotiation scope

12) Stamp and Registration charges to keep in mind

13) Original paperwork of seller and trail

14)  Deal Closure Time estimates and your own ability to pay up in how much time

15)  Agreement to Sell - Paperwork

16)  Advance amount

17) Sale Deed Paperwork

18) Exchange of remaining consideration and original papers between buyer / seller at the time of registration. 

19)  Post paperwork follow-ups and procedures




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