Purchase
of a flat or apartment from a builder | ||||
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Purchasing a home directly from a builder or promoter makes it essential that you look into the following aspects of the purchase:
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| Type |
Compulsory checks | Other checks |
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Legal |
*Obtain a clear and marketable title of the project. *Check for proper Development Agreements and the authority for conveyance of title in favour of builder/promoter. *Ensure execution of proper sale agreements on your initial payments. *See the sanctioned plan. *Register the property. | *Verify plinth area of the apartment. *Check carpet area of the apartment and find out if the difference between plinth area and carpet area is reasonable. |
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Location |
*Check for proper approach roads. *Ensure secured electricity connections. *Are water connections present and functional? *Ensure that well laid out drainage, sewerage and garbage disposal arrangements have been made. | *Is there any pollution due to industries etc in the area? *Check for developmental activities of the area. *Are there adequate public transport facilities and other vital amenities like educational institutions, hospitals and shopping avenues in the area? |
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Approvals |
*Has your builder acquired the approvals from - Municipal Corporation - Area Development Authorities - Electricity Boards - Water Supply & Sewerage Boards - Airport Area Authorities Ask for adequate proof of this, by way of authorised documentation.
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*It would be deemed a comprehensive check if you could also determine if the builder has secured approvals from Pollution Control Boards, Agriculture & Forest Authorities. |
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Amenities |
*Verify whether specifications as assured by the builder has been delivered, including quality of construction and whether drinking and potable water is available. |
*Assess the natural lighting, ventilation, water connection & sanitary connection status of your prospective property. *Check up common service area charged and their reasonability. |