The rural development (RDP) apartments can be bought in many cities in India, particularly in Hyderbad, Ahmedabad and other urban areas.
The process is not that difficult, but you need to pay attention to the details.
Here are some tips to buy an RDP apartment in your locality:1.
Select the right area2.
Make a good down payment and pay it off3.
You can choose to pay in advance or late in the month.4.
Check the cost of utilities.
You need to get an electric bill and this is important to ensure you have the right amount of electricity in your home.5.
Take an interest-free loan from your bank.
You will have to pay interest and interest is not refundable.6.
Check with the land-ownership department before you buy an apartment in the RDP section of your property.7.
Get your land-lending licence in advance and pay a deposit upfront.8.
Get an appraisal for the Rdp section of the property.9.
Get the building permit.10.
Make sure that the R DP building has a proper roof, a proper ceiling and a proper ventilation system.11.
Make an investment.12.
Check for defects in the building.13.
Make the building available to the tenant.14.
Check if there is any other RDP property available in the area.15.
Keep an eye on the land that is being developed.16.
Look for the right tenants to live in the rental unit.17.
Make it easy to buy land in the rural development section.18.
Buy the building before you have to get the building permits.19.
Get a mortgage in advance, otherwise you may have to give a lump sum of money in advance.20.
Check whether the landlord is on the hook for the rent in the next year.21.
Make certain that the landlord has adequate insurance.22.
Make arrangements to keep the rental units clean.23.
Make every effort to maintain the quality of the rental property.24.
Check up on the security deposits in the bank.25.
Pay down the deposit in advance as the landlord can default on them if the rent doesn’t keep up with the market.26.
Make plans to keep all the rental rooms in the rented section.27.
Make all the tenants have a monthly maintenance deposit.28.
Make your tenant pay rent on time.29.
Keep the rent affordable and provide regular monthly maintenance payments.30.
Make payments to the bank on time, otherwise the bank may withhold the money from your account.31.
Make proper payment in advance on time and in full.32.
Check that all the other tenants are paying their rent.33.
Ensure that the rent for the apartment is not paid in advance of the date of purchase.34.
Make regular check up on security deposits.35.
Keep up with your tenants’ financial problems.36.
Pay the rent on a regular basis.37.
Make rent payments in full every month.38.
Keep a record of all the payments made in full, and keep it on a separate computer.39.
Make periodic payments on time in the interest of the landlord.40.
Pay your landlord a periodic check up of the amount owing.41.
Make frequent regular checks on the premises.42.
Pay rent on the correct date.43.
Make full payments in cash.44.
Make daily payment in cash or in the form of a cheque.45.
Pay a rent deposit.46.
Make monthly payments.47.
Make maintenance payments in the prescribed form.48.
Make rental payments in advance for the period of the lease.49.
Make payment in full for all rental units, including the rental flats.50.
Keep your deposit in the appropriate account, as you will be required to pay it back when you move out.51.
Keep any rent deposit in your account at the bank or a bank branch.52.
Pay off the deposit every month or fortnight.53.
Pay all overdue rent.54.
Ensure the rent deposit is written on the lease agreement.55.
Make any repairs in the premises, as the tenants are responsible for this.56.
Keep all the building maintenance deposits in an account at your bank, or in an alternative account.57.
Make and maintain a record on your own about any issues with the premises and the rental properties.58.
Check and record all the monthly and weekly maintenance payments made by the landlord and the tenant on a monthly basis.59.
Make weekly maintenance and maintenance checks on all the rented units in the rent-to-rent section.60.
Check your tenant’s performance every month and every week and keep an accurate record of them.61.
Keep copies of any check-ups made by your tenant.62.
Check regularly on the progress of your tenant on the rental contracts and any new or amended agreements.63.
Make changes in the lease and rental contracts of all rented units, especially the rent flats