Frequently Asked Questions

Certainly! Real estate properties, including homes, can indeed depreciate in value over time. Factors such as weather conditions, poor maintenance, delayed infrastructure projects, and lack of nearby facilities can contribute to this depreciation. While land value tends to remain relatively stable, the value of the structure built on it may decrease. However, well-maintained properties can still command reasonable prices, even as the structure ages. It’s essential to consider these elements when planning to resell a home, as they significantly impact its resale value. Keep in mind that the degree of depreciation varies, and some owners may even choose to demolish structures to maximize the overall value of their land.

The value of an older home compared to a new home depends on various factors. Older homes can be just as valuable as new ones if they meet certain criteria. Here are some considerations:

Initial Construction Quality: The quality of the original construction affects the value. Some argue that due to increased building code regulations, new homes are built better than older ones.

Maintenance Costs: Older homes may have lower property values initially, but if they are well-maintained and have updated features, they can hold their value. Consider the long-term maintenance costs when evaluating an older home.

Modern Design vs. Timelessness: New homes often come with modern designs, energy efficiency, and low maintenance costs. However, older homes may have timeless charm and unique features that appeal to buyers. It’s essential to weigh these factors based on your preferences and priorities

A real estate broker is a licensed professional who assists with buying, selling, and transferring property. They possess expertise and knowledge of the real estate industry, aiding clients in paperwork, decision-making, and legal compliance. Unlike real estate agents, brokers can work independently, establish their own brokerages, and hire other agents. Their role extends beyond transactions to managing offices or realty groups. Brokers receive commissions—typically around 2%–3% of the sale price of a house—while ensuring ethical practices in accordance with industry.

RERA, which stands for Real Estate Regulatory Authority, is a significant legislative framework in India. Enacted in 2016, it aims to regulate the real estate sector, enhance transparency, and safeguard the rights of homebuyers. RERA ensures that builders adhere to guidelines, provide accurate project information, and complete projects within stipulated timelines. It establishes State Real Estate Regulatory Authorities across almost all states in India, such as UP Rera, Rera Gujarat, Rera Karnataka, Rera Rajasthan, and Rera Maharashtra. The Act also facilitates speedy dispute resolution and sets up Appellate Tribunals for appeals.

The duration of the home loan process in india can vary based on several factors, including the accuracy of the information provided, the efficiency of the bank’s verification process, and the type of property being purchased. On average, the home loan approval time can range from a few days to a few weeks. It usually takes 2 to 4 weeks for a lender to process your home loan application. However, the actual processing time can widely vary across lenders and loan applicants. To streamline your journey to homeownership and Home Loan Connect us on 9967524252.