Property tax is the tax that the government levies on real estate properties including land plots and buildings. Typically, the bigger the value of the property, the higher the tax amount payable for it.

The negotiation can be based on factors including the area of the apartment, whether it is furnished or not, the locality and amenities in it.

You should verify the following documents before purchasing: current property ownership documents going back to ten to twelve years, the seller’s ID, documents related to the land use and also the construction approvals, documents that prove that taxes and other claims on the property have been settled, relevant No Objection Certificates and also documents that prove the property complies with norms set by the Real Estate Regulatory Authority.

If lump sum for the purchase cannot be procured, a housing loan is the most common way to finance it. The eligibility for loan will depend on factors including your profession and annual income.

First of all, check if every utility is in working order: including doors, windows, electrical utilities,water faucets, air conditioning/heater and the toilets and sinks. Make note of any damages like leakages, faulty wiring and torn window screens. Closely inspect safety measures around the house including the gates and other areas of access to the building as well as CCTV cameras. Walk around the exterior of the house/building and observe the condition of the construction. Please note that all answers provided here are for general information and not meant as legal/financial counsel.