The first step towards buying a property starts from being able to identify the one that suits your needs. With a large number of builders competing with each other to get your attention (and your money, too), there is a wide range of choice available. However, it is important to select the property depending on:

1. Location Of Site - While choosing the location, you need to keep the following parameters in mind (Fill the table below and assign 1-5 values to the parameters for each flat you see in an area. A comparative table like this will help you to short list the flat).
2. Affordability - Does the location fit your budget?
3. Place of work - How far is the office from the desired location?
4. Market place - Where is the nearest market?
5. School - Where is the nearest school?
6. Public transport - Are buses/trains easily available from the location?
7. Builder - Does the builder have a good reputation in the market?
8. Availability of water and electricity - Is there a steady supply of both?
9. Residential/ commercial - Commercial areas face traffic jams during working hours and level of noise is rather high
10. Hospital/ Medical services - Are they available easily?
11. Society expenses - Is the monthly outgo on the society and maintenance a strain on your budget?
12. Security - Are the security systems in place, like a professional guard or electronic systems?
13. Parking - If you own a vehicle, you will need space to park it.
14. Type of ownership - In some areas, property is available only on a power of attorney basis. Getting funding for such properties is a problem.

Print Table

Affordability Place of Work Market Place School Public Tranport Builder Availability of water and electricity Residentail/commercial Hospital/Medical Services Society Expenses

1. Self constructed property (SCP) - SCP is a situation where you buy a plot of land and construct a house there. All banks may not fund such projects.
2. Under construction property at an early stage - Many banks may not prefer to fund such projects. But if the builder is well reputed then it should not be a problem. In case of a ready / resale property, you need to bear the following additional points in mind while selecting a property
3. Chain of title - It is important to have all the proper registered documents from the proposed seller that declares his ownership. These documents are important for you to garner a loan from the bank.
4. Maintenance - Check the internal as well as the external condition of the building.
5. Water leakages - A flat with water leakages should be strict no no as it adversely impacts the overall condition of the building.
6. Condition of the flat - Is the paint peeling off or concrete crumbling?
7. Neighbours - Grumpy neighbours can make life very unpleasant.
8. Society transfer charges - If they are too high then you need to factor that in your budget. It is virtually impossible to select a property that meets all of the above-mentioned parameters completely to your satisfaction. It is, therefore, necessary to prioritise the above parameters and select a property on a trade - off that is acceptable to you.
9. Stage of construction - To decide on whether you need to go in for a property that is ready or under construction, you will need to keep the following factors in mind
10. Urgency - If you are staying in a rented property where the rentals are exorbitant and if you feel the need to shift immediately, you should opt for a ready property.
11. Discounts - If you are not in urgent need to buy a property, you could buy the property from a reputed builder on a cash down payment option and get a substantial discount on the cost of the flat.
12. Modifications - It is always easier to get a flat modified to suit your tastes/requirements at the time of construction than doing up a ready flat.