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WHAT TO CHECK BEFORE BUYING A READY TO MOVE PROPERTY?


1. IS REGISTRY HAPPENING OR NOT?

IN SOME PROJECTS WHERE THE PROJECT DUES TO THE AUTHORITY HAVE NOT BEEN PAID BY THE DEVELOPER, THE AUTHORITY DOES NOT ISSUE THE DOCUMENTS RELEVANT FOR REGISTRY OF THE PROPERTY. NOT ONLY THAT, IN SUCH CASES, EVEN BANKS HESITATE TO PROVIDE LOAN ON SUCH PROPERTY.

2. IS THE OCCUPANCY CERTIFICATE FOR THE CONCERNED PROPERTY RECEIVED BY THE DEVELOPER?

EVEN IF THE POSSESSION IS BEING OFFERED, IT IS STILL IMPORTANT TO CHECK IF THE OCCUPANCY CERTIFICATE HAS BEEN RECEIVED OR NOT. DO NOT HESITATE TO ASK FOR A COPY.

3. HOW TO CHECK THE QUALITY OF THE PROPERTY?

A) ONE OF THE MOST IMPORTANT THINGS IS TO MEASURE THE AREA OF THE PROPERTY WITH YOUR MEASURING TAPE. MEASURE THE CARPET AREA & BALCONY AREA SEPARATELY AND CROSS-CONFIRM WITH THE DETAILS PROVIDED BY THE BUILDER/SALES REPRESENTATIVE. SOMETIMES 2 PROPERTIES HAVING THE SAME SUPER-AREA (AREA THAT YOU PAY FOR PER SQ.FT.) HAVE DIFFERENT CARPET AREA.

B) IT WILL BE A GOOD IDEA TO MEET SOME OF THE OCCUPANTS AND TAKE FEEDBACK REGARDING THE QUALITY OF MATERIAL & SERVICES BEING PROVIDED AGAINST THE MAINTENANCE CHARGES THAT YOU PAY.

4. WHAT TO CHECK IN THE AGREEMENT WHICH HAS TO BE REGISTERED?

A) FIRSTLY, YOUR EXCLUSIVE RIGHT TO YOUR PROPERTY MUST BE VERY CLEARLY MENTIONED IN THE AGREEMENT. IF THE AGREEMENT IS NOT AS PER THE PRESCRIBED FORMAT OF THE RERA ACT, YOU MUST CONSULT A REAL ESTATE LAWYER. IT IS BEST TO ASK FOR A SAMPLE COPY OF THE AGREEMENT BEFORE MAKING THE PAYMENT.

B) SECONDLY, PLEASE ENSURE THAT ALL DELIVERABLE OR FACILITIES PROMISED VERBALLY ARE MENTIONED AND INCLUDED IN THE AGREEMENT.

IMPORTANT NOTE:

DO NOT DO CASH DEALING

• IT WEAKENS YOUR COUNTRY’S ECONOMY.

• IT UNDER VALUES YOUR OWN PROPERTY.

• IF YOU WANT TO CANCEL THE DEAL MID-WAY, ANY UNRECORDED TRANSACTION CAN BE A BIG LOSS TO YOU.
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