Things To Do Before Booking a Flat In India

Things To Do Before Booking Flat In India

Buying a flat is a big decision to make and sometimes takes most of your savings. Also, a good part of your monthly earnings will go into paying installments, if you are planning to take a home loan. Hence, it is very necessary to make sure that you are investing in a safe place. The primary factors that ought to be considered before buying a flat are the location of property, its price and possession.

After evaluating these factors, the other less considered but important factors necessary to check before finalizing a deal are:

Title Deed:

Title Deed is also called the land record. The information about the ownership rights, mortgages, and obligations is given by this necessary document. The buyer can know about the registration of the property and the development rights through this document. If you are looking to buy a property, then you can obtain a copy of this document from the builder, and verify it from the land record office.

Don’t Fall for Super Area:

You must have noticed that often the super area of the flat is quoted by the property dealers and the real estate companies, and the same is used for calculation of the price of the property. In reality, the quoted figure will actually be more than the real surface area of the flat. Usually, the carpet area is just 80% of the super area. Common spaces like a staircase, elevator space, lobby, shafts and the thickness of the outer walls of the house are also included in the super area.

Certificate of the Project’s Commencement:

To start the construction of the property, the buyer must have this document. This clearance certificate is issued by the engineering department and town planning after proper inspection of boundaries and analysis of the foundation of construction. Also, the document gives information whether or not the builder has obtained the required licenses and permissions for the map.

Verifying the Plan’s Approval:

Verifying the approval of the layout plan and building is beneficial. It is like doing a little more inspection to ensure whether or not the plan is breaking or violating any law applicable in the construction area or not. Also, the buyer should ensure that the floor area is approved.

In addition, the design plan must not violate any NBC (National Building Code of India) guidelines. To understand the regulation of construction activities throughout the country, one should seek help from the NBC guidelines. The buyer should get this checked with the local municipal authorities.

Also, some of the construction projects claim for a green stature. Such project is certified by Indian Green Building Council or GRIHA. GRIHA – Green Buildings Rating System India – is an initiative of TERI University. The main focus of these certifications is rating a building’s energy, waste and water management. In India, GRIHA stands as the most used rating system and has standardized norms.

Don’t go by the Sample Flat:

Your property dealer might have shown you a ‘sample flat,’ but do not get influenced by the flat as these sample flats are there to attract customers and include several furnishings that the real flat would not have. Always watch out for the ceilings as the sample flats might have higher ceilings, which mean better wall storage spaces. The ceiling in the sample flat has PoP work, expensive paint, design, ambience lights, etc., which the actual flat will lack.

Same is the case with modular kitchen, glass-partitioned bathrooms, expensive bath fittings and tiles, etc. The buyer will have to pay extra for these things. Hence, inquire about each and every aspect of the house before buying it.

Certificate for Land Use:

It’s illegal to have a residential property in a commercial or an industrial zone. Hence, the buyer must ensure that the property they are buying is in a residential zone. They can get the proper information from the urban development authority and by checking the certificate.

Also, one may find that by paying some fees to the government, agricultural lands are being converted to non-residential purpose. Thus, the buyer ought to check for the endorsement order from the Tehsildar (the zonal deputy commissioner) in such situations. This endorsement order is actually a license for residential construction on the land.

Master Plan:

Always keep your eyes and ears open while buying a property because there are always chances of fraud. Your builder might claim that the government is planning infrastructural development in the area in the future like an upcoming metro or a highway, but do not believe the builder just like that. Personally look at the master planning of the area for verification. The town planning department has all the details regarding the plans.

Tie-ups with Banks for Home Loans:

Often, the property dealers or builders attract buyers with merits like hassle-free financing. The banks have the responsibility of doing a through enquiry about the property, and thus will not associate itself with a risky project – especially a government bank. So, if a state-owned bank is on the developer’s board, then the project can be assumed to be safe.

Check for the NOCs:

A buyer should always ask for a No Objection Certificate of the urban land ceiling wherever applicable from their builder. Check the NOC for environmental clearance from the water and electricity authorities as well.

Clause for late possession:

Many factors such as shortage of funds, heavy monsoon and shortage of raw material affect the timeline for the delivery of a product. Hence, a three to six month grace period is mostly asked by most developers.

In the contract, the grace period is usually mentioned, so read the contract carefully before signing it. The builder will be entitled to pay a monthly penalty to you if the property is not handed over to you within the grace period. In a tripartite agreement, signed between the builder, the bank and the buyer, this clause should be mentioned.