1506, Emaar Palm Garden
Sector 83, Gurgaon
9 am to 6 pm
Wednesday to Monday
1506, Emaar Palm Garden
Sector 83, Gurgaon
9 am to 6 pm
Wednesday to Monday

Frequently Asked Questions

Question about selling

Yes, a home can depreciate in value.

While real estate generally appreciates over time, several factors can cause a home to lose value, such as:

  • Poor maintenance or structural issues

  • Decline in the neighborhood or local economy

  • Oversupply of properties in the area

  • Legal disputes or unclear property titles

  • Natural disasters or environmental hazards

  • Changes in infrastructure that reduce accessibility or desirability

 

However, here are some pros and cons:

✅ Pros of Older Homes:

  • Often in prime, central locations

  • Larger plots and mature landscaping

  • Solid construction in many cases

  • Negotiable pricing

⚠️ Cons of Older Homes:

  • May require repairs or upgrades (plumbing, electrical, roofing, etc.)

  • Lower energy efficiency compared to new homes

  • Possibly outdated layouts or finishes

  • Higher maintenance costs

Ultimately, whether an older home is as good a value as a new one depends on your needs, budget, and willingness to invest in renovation or upkeep. A home inspection is highly recommended before making a decision.

A broker is a licensed professional who acts as a middleman between buyers and sellers in real estate transactions.

In real estate, a broker helps clients:

  • Buy, sell, or rent properties

  • Negotiate deals

  • Handle legal paperwork and documentation

  • Provide market insights and property valuations

  • Ensure compliance with local property laws and regulations

Types of Real Estate Brokers:

  • Buyer’s Broker – Represents the buyer’s interests in finding and purchasing a property.

  • Seller’s Broker (Listing Broker) – Represents the seller and markets the property to attract buyers.

  • Dual Broker – In some cases, a broker may represent both buyer and seller, but this must be disclosed.

In India, many people refer to brokers as property dealers or agents, but legally, a broker is usually someone with more experience, sometimes managing a team of agents, and may be registered under RERA (Real Estate Regulatory Authority).

Yes, in many cases you can — but it depends on your loan agreement.

If you own your home outright (no mortgage), you’re fully responsible for paying your property taxes and home insurance directly.

However, if you have a home loan (mortgage):

  • Lenders often require an escrow account where you pay monthly installments toward your property taxes and insurance, along with your EMI.

  • This ensures that taxes and insurance are paid on time, protecting the lender’s interest in the property.

You may be able to pay them yourself if:

  • You have a good payment history and meet the lender’s criteria.

  • Your loan terms allow it (some banks or NBFCs in India allow this after a few years).

👉 Important: Check your loan agreement or speak with your lender to know your specific options.

 The home loan process typically takes anywhere from 7 to 21 working days, depending on the bank, your documentation, and the type of property.

Here’s a general timeline:

  1. Loan Application & Document Submission – 1 to 3 days

  2. Verification & Background Checks – 2 to 5 days

  3. Property Valuation & Legal Check – 2 to 5 days

  4. Loan Approval (Sanction Letter) – 1 to 3 days

  5. Loan Agreement Signing & Disbursement – 2 to 5 days

Factors that can delay the process:

  • Incomplete or incorrect documents

  • Property-related legal issues

  • Low credit score or unstable income

  • Backlogs at the lender’s end

👉 Tip: Working with a knowledgeable broker or loan advisor can help speed up the process and avoid common pitfalls.

Question about renting

As a tenant, depreciation of the property doesn’t directly affect you.

Property value changes (up or down) are the concern of the owner/landlord, not the tenant. However, if the property’s condition worsens (e.g., poor maintenance or damage), it could affect your living experience or lead to higher rent elsewhere if you choose to move.

It depends on your preferences and the condition of the home.

An older rented home may offer more space and a lower rent, especially in prime locations. But it may also come with maintenance issues or lack modern amenities.

✅ Pros:

  • Usually cheaper than newer units

  • Located in well-connected, developed areas

  • Bigger rooms and sometimes better ventilation

⚠️ Cons:

  • May lack modern fittings or security features

  • Potential plumbing/electrical problems

  • Higher maintenance responsibility (depending on lease terms)

Always inspect the home and clarify responsibilities with the landlord before signing the rental agreement.

A broker (or property agent) helps tenants find rental properties and connects them with landlords.

They assist in:

  • Showing available rental units

  • Negotiating rent and agreement terms

  • Coordinating documentation

  • Sometimes helping with police verification or registration of the lease

🔁 Brokers usually charge a commission, typically half to one month’s rent, either from the tenant, landlord, or both, depending on the region and deal.

No, that’s not your responsibility.

As a tenant, you’re not required to pay:

  • Property tax

  • Building insurance

These are the responsibility of the property owner/landlord. You’re only expected to pay:

  • Monthly rent

  • Security deposit (refundable)

  • Utility bills (electricity, water, internet, etc., as per agreement)

If you wish, you can take renter’s insurance to protect your belongings, but it’s optional.

Renting a property can take anywhere from 2 days to 2 weeks, depending on availability, negotiations, and documentation.

General Steps:

  1. Property Search & Visit – 1 to 5 days

  2. Finalizing Terms & Negotiation – 1 to 2 days

  3. Document Verification (ID, income proof, etc.) – 1 to 3 days

  4. Agreement Signing & Token/Security Deposit – 1 to 2 days

  5. Move-In – As per mutual decision

👉 Some housing societies may require police verification or tenant approval, which can add 2–5 extra days.

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