Buying a home is a big decision — and probably one of the biggest financial steps you’ll ever take. But before you make an offer, you should always ask:
“Is this property really worth the price?”
Don’t just rely on what the builder, agent, or seller tells you. Here’s a simple guide to help you find out a property’s real value before making an offer.
1. ✅ Compare Similar Properties Nearby
The best way to check if a home is overpriced or not is to compare it with similar properties in the same area.
Look for:
Same locality or nearby society
Similar size (in sq. ft. or sq. yards)
Same number of bedrooms (1 BHK, 2 BHK, etc.)
Similar amenities
You can check this data on popular Indian property websites like:
These sites show current property prices and recently sold/rented homes in the area.
2. 📏 Check the Price Per Square Foot
This is a simple but powerful step.
Formula:
Total Price ÷ Built-up Area (sq. ft.) = Price per sq. ft.
Example:
If a flat costs ₹80 lakhs and has 1,200 sq. ft. built-up area:
₹80,00,000 ÷ 1,200 = ₹6,666 per sq. ft.
Now compare this with other flats in the same area to know if it’s reasonable.
3. 🏛️ Check Government-Declared Circle Rate
Each city or area has an official circle rate or guidance value declared by the local authority.
This is the minimum value at which a property should be registered. If the asking price is much higher than the circle rate, check why. If it’s lower, it could be underreported.
To find circle rates:
Visit your city’s municipal or registration office website
Or ask a local property lawyer or agent
For example:
Delhi: https://revenue.delhi.gov.in
Maharashtra: https://igrmaharashtra.gov.in
Karnataka: https://kaverionline.karnataka.gov.in
4. 📝 Request a Property Valuation from a Chartered Engineer or Valuer
If you want a professional opinion, you can hire a certified property valuer or a civil engineer.
They inspect the home, location, and construction
They provide a detailed valuation report
These reports are also accepted by banks for home loan purposes
This usually costs ₹5,000–₹15,000, depending on the property.
5. 🏢 Talk to Local Brokers or Residents
Sometimes, the best insights come from people living in the area.
Ask them:
What are flats selling for right now?
Are prices going up or down?
What do they think about the builder or society?
Local real estate brokers can also give price comparisons and trends in the area.
6. 🔍 Check Property History & Legal Documents
A property’s past matters. Check:
Previous sale price (if resale)
Whether the builder has RERA registration
Property tax records, loan history, or any disputes
Visit your state’s RERA website:
https://maharera.mahaonline.gov.in (Maharashtra)
https://rera.karnataka.gov.in (Karnataka)
https://www.up-rera.in (Uttar Pradesh)
📌 Final Tips
Don’t rush just because others are showing interest
Always compare at least 3–5 similar properties
Take help from experts if unsure
Don’t trust online listings blindly — go visit and ask questions
Helpful Resources :
👍 Conclusion
Doing a little homework can help you save lakhs of rupees and avoid getting tricked into paying more than a property is worth.
Be a smart buyer. Compare, verify, and only then — make your offer.
