Buying Resale home vs Brand new - Indian Real Estate Forum

Diya · 08-09-09

How easy or hassleful buying resale home than the brand new home in terms of: To avail home loan, registration, transfer, NOC, MSEB transfer, etc...Other than brokerage is there any more expenditure involved? or you save some on stamp duty or registration.
This thread will be helpful for the first time buyers like me as well as for those who are in dual mind about buying resale home.

bhartiakash · 18-07-11

I have purchased an apartment in resale and can surely say that buying a new one(first buy) would be much easier......

I would prefer buying a new one, but it purely will depend on whats the price difference in new/second-buy..

compuwalah · 19-07-11

Alaways better to buy resale. Builders will just sit on your money for years delaying possesion

.

simantadatta · 19-07-11

Its better to buy on resale as you dont pay the VAT and Service tax.

You may pay brokerage, but these days keeping an eye on internet pays and you may quite find a good flat without broker (also most companies have some classified section on these as well)

NOC is seller's headache.
Getting a loan is quite easy as long as you are approaching the bank through some corporate company (wherever you work).

The only time it gets a bit tricky is if the seller also has a loan then you need to clear-off his loan based on an "agreement to sale" (but not the sale deed) before you can get the original papers from him and bad seller can just take your money, clear-off his loan and never see you again.

08-09-09	#1
Diya New Member Join Date: Mar 2009 Posts: 40 Thanks: 0 Thanked 0 Times in 0 Posts	Buying Resale home vs Brand new How easy or hassleful buying resale home than the brand new home in terms of: To avail home loan, registration, transfer, NOC, MSEB transfer, etc...Other than brokerage is there any more expenditure involved? or you save some on stamp duty or registration. This thread will be helpful for the first time buyers like me as well as for those who are in dual mind about buying resale home.

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18-07-11	#2
bhartiakash Member Join Date: May 2011 Posts: 50 My Mood: Thanks: 1 Thanked 3 Times in 1 Post	I have purchased an apartment in resale and can surely say that buying a new one(first buy) would be much easier...... I would prefer buying a new one, but it purely will depend on whats the price difference in new/second-buy..

19-07-11	#3
compuwalah Senior Member Join Date: Dec 2009 Posts: 912 My Mood: Thanks: 2 Thanked 23 Times in 18 Posts	Alaways better to buy resale. Builders will just sit on your money for years delaying possesion .

19-07-11	#4
simantadatta Member Join Date: Jun 2009 Posts: 88 Thanks: 0 Thanked 0 Times in 0 Posts	Its better to buy on resale as you dont pay the VAT and Service tax. You may pay brokerage, but these days keeping an eye on internet pays and you may quite find a good flat without broker (also most companies have some classified section on these as well) NOC is seller's headache. Getting a loan is quite easy as long as you are approaching the bank through some corporate company (wherever you work). The only time it gets a bit tricky is if the seller also has a loan then you need to clear-off his loan based on an "agreement to sale" (but not the sale deed) before you can get the original papers from him and bad seller can just take your money, clear-off his loan and never see you again.