Planning to Buy A FLAT, Verify the following:

  1. The title documents. Ask for proof of legality of land and clear title.

  2. The sanctity of the layout with the statutory authority.

  3. The seal of approving authority and the valid date on the approved plan.

  4. The number of floors which have been approved. No loan is given by Banks for Unauthorized flats / pent house etc.,

  5. Check out the previous projects by the builder to assess the quality of his work. Ask residents of these projects about the work / dealings of the builder.

  6. Ask Architects and Civil Engineers to rate the project.

  7. Visit the site during daytime.

  8. Check what percentage of common area is included in the chargeable area..

  9. Sign on the agreement of sale with the landlord / builder based on the flat number.

  10. The car parking number allotted to your flat should be clearly mentioned in the sale deed.

  11. Check what all amenities (Lift, sewerage, water, electricity etc.,) are to be provided by the builder and if he has made necessary arrangements / payments for the same.

  12. Specify clearly the type of flooring, fittings, wood work, locking system etc., to be used in the flat.

  13. If buying into a co-operative group housing society, check the credentials of the members.

  14. Incorporate a penalty clause for delay in completion of the project by the builder.

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 In case of Joint Development of your Property with a Builder:

  1. Ascertain the prevailing rate of your property to get the best deal.

  2. Check the permitted coverage and Floor Area Ratio (FAR) of your property.

  3. Visit the sites earlier developed by the builder. Ask residents whether delivery schedules were met or not.

  4. Settle the terms of collaboration contract in advance.

  5. Settle the roof rights in advance.

  6. Take the deposit of earnest money at the time of agreement. Have a clear cut provision of forfeiture in case of non completion of the project by the builder.

  7. Incorporate a penalty clause for delay in completion of the project by the builder.

  8. Ensure that no construction is done after obtaining completion certificate from the concerned authorities.