Assign priorities before buying

It is advisable to assess and evaluate the value of an apartment prior to its purchase; let us exam the factors to be considered

- Piyush Rambhia

Buying an apartment is one of the biggest financial decisions most families make, and the stakes are higher than ever. With property prices in the Mumbai Metropolitan Region (MMR) on a steady rise—Thane alone has seen a 46% increase in rates over the past three years, from about Rs. 13,550 to nearly Rs. 19,800 per sq. ft—evaluating the true worth of a home has become critical before signing on the dotted line.

So how can a buyer distinguish between a fair deal and an overpriced property? Experts point to six factors that determine value, but not all deserve equal weight.

Location