How to Put a Price to Your Property

One of the most important factors to consider while selling a property is its price tag: how much your property is worth. You don't want to overprice the property because you will lose the prospective clients’ appeal who may find it too pricy to afford it. However, real estate firms in Gurgaon suggest that while selling a property; don't worry about pricing it low since properties priced below the market value usually receive numerous offers, which then drives up the price ultimately. Pricing is all about supply and demand and good pricing is about understanding it.

As the real estate firms in Gurgaon state, it is part art and part science, and therefore no two firms can price property the same way. While deciding the price, the best way to begin is by researching on the comparable listings. Do the research and try to find out how much the similar property in the area was sold or purchased for within the last six months.

Your neighborhood should extend to homes within 1 km – 1.5 kms of your property and no further, unless there are not many pieces sold or your property is in rural area. Pay great attention to area dividing lines and tangible barriers such as highways, streets and railroads. Do not do the mistake of comparing the inventory from the "other side of the rail tracks." Desirability has a value and the more convenient you are to something nice, the better are the property rates that you can fetch.

Also, if possible, compare similar square footage, within 5-10% up or down from the subject property. Compare apples to apples and not a property built in 1970 to the one constructed in 2005. Do the research to find out if that piece had ever been delisted by the district authority for not being able to follow on certain guidelines. While buying, compare the original price to the final sale price conveyed to you to determine price increase. Also, if the home has been idle too long, find out about the reason behind it. Look for patterns as to why it did not sell and the other common factors the piece shares with others of its kind.

Based at Gurgaon, Acascia Realty Pvt. Ltd. is a leading real estate services provider. With its extensive network of associates, it offers a broad range of corporate leasing, capital management, underwriting and property portfolio management services. Its people combine deep understanding of specialist property sectors and the entrepreneurial spirit with the highest standards of client care.