Simar Singh | 17 May 2022

How to check the price of your property in Mumbai

How to check the price of your property in Mumbai

It is essential to check the price of your property in Mumbai in whichever land you are interested in with whatsoever purpose. If we look from the perspective of buyers, it is essential to get properly evaluated to understand the actual worth of the property. You must have encountered a situation where the real estate developers try to state the exorbitant prices of their property by providing clarification like construction quality or availability of additional features. Or a situation where developers levy extra charges or charge per square feet prices compared to the recent price of the location and then later sell them at a sky-high price.

So buyers should get the property evaluated from the right place to avoid paying a higher rate or falling into scams and malpractice of the real estate developers. If we look from the perspective of a buyer planning on taking a home loan, even for them, knowing the property's worth is essential. It is because banks conduct a home valuation at the initial step and later seal the deal on the loan amount. Even if you are a seller, you don't want to limit your rewards by getting whatever the developer offers. 

Recently the real estate market has taken a turn for the better, which means the last price you checked might not be accurate at this time; instead, one should recheck. If you don't know how to do it, then my friend, you are in for a real treat. In today’s blog, you will understand the basic steps of How to check the price of your real estate in Mumbai?

If you wish to check the price of your property in Mumbai, firstly, you should know whether or not you have a property valuation certificate with you. A property valuation certificate in Mumbai is a legal document that certifies the specific details like property size, value, construction details, and entry details in the Register of Land Values. By having this certificate, you will be able to determine the fair market value of the property at the time it is on sale. If you want to check the price of your real estate in Mumbai, then you must not consider the rates of properties in the vicinity as a benchmark. The certificate will help you provide collateral for the educational loan from the bank. The certificate can be used at the time of submitting annual returns to the income tax department. 

How to check the price of your property in Mumbai?

The answer to how to check the price of your property in Mumbai couldn't be more straightforward; just Google Clicworth! It is a home valuation tool specifically designed to allow you some leverage over the prices of the property you are interested in. 

It is a completely transparent and AI-based tool that allows you to access the fair price of your property in Mumbai. To find the price of your real estate in Mumbai, all you need is the following information-

  1. Locality or address 

  2. Property Type

  3. Floor

  4. Apartment Configuration

  5. Size of the apartment 

You will receive an estimated price range followed by an Affordability Calculator that will provide you with a detailed basic down payment, home loan EMI, and home loan interest rate. Next time your real estate developer tries to trick you, then you very well know how to tackle that situation! 

Frequently asked questions

Why should property valuation services be taken into consideration?

Property valuation services allow you to access the exact value of a property at the time of sale and purchase. It also helps you in tax calculation and evaluating the ROI for accessing income-generating potential and loan matters. 

What should be kept in mind when assessing the property?

The condition of the property 

Construction quality 

The layout of the property

Composition

Fixtures and Repairs 

How old is the property

And the design features of the property in Mumbai 

What should be included in the final report of property valuation?

The final report must contain details like-

Number of bedrooms in the property,

The size and total area covered,

Carpet area, 

Condition of the property, 

Design, features, and architectural style,

Location and connectivity. 

Also Read: Key Factors To Note Before Investing In Property in Mumbai

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