Purchase of a flat or apartment from a builder

 

Purchasing a home directly from a builder or promoter makes it essential that you look into the following aspects of the purchase:

  • Ensure that the paper work and title documentation are in order. Consult your property lawyer.
  • Bear in mind factors like approach roads, upcoming structures in the area and the availability of all basic amenities. The check list below details the same facts.

Type

Compulsory checks

Other checks

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.

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?

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.

 

*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.

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.