Posted by Admin, On 20th August 2022
10 questions to ask a real estate developer before buying a house (ro)
One of the most significant moves in one's life is buying a home. It requires research, paperwork, financial planning, and verifying credentials of the builders.Investing in under-construction projects requires a lot more vigilance than ready-to-move flats. However, you can ensure you are making the right investment choice by asking the realtor. Here are the ten questions you should never miss asking the builder before investing.
Property Title
In many instances, the complete acquisition of the land on which the property is constructed is not finalized. As a result, it will be a legal problem if your unit falls on that land. Therefore, it is important to verify the title of the land deeds and the legal names of the developers.
The construction quality of the property
When you don't want to compromise on construction quality and specifications, approach the builder. A high-priced builder's floor is considered of high quality. Therefore, you must get an excellent value for money for a builder's floor, which is usually costlier than a stand-alone building.
The reputation of the builder
You can check the builder's reputation by conducting a quick internet search of the company's name, customer forums, blogs, news reports, and visiting the property site. In addition, you can check the builder's credentials by talking to the customers who bought the unit in old projects.
Track record
An experienced builder is a safer option when buying a property because you can check the builder's track record.
Occupancy certificate and completion certificate
Before moving into a new home, it is necessary to have an occupancy certificate. Builders often deviate from the approved building plan, upon which builders are denied occupancy certificates. Municipal or state authorities can impose a heavy fine or ask to evict the property without an occupancy certificate.
The social infrastructure of the location
The property must be within 1 or 2 km of distance from medical facilities, daily-need items, groceries, and educational institutes.
Registration of the property
Registration of the immovable property is necessary for a permanent public record. In many states, registration is done after project completion. In Maharashtra, registration is done after booking the property.
Legal compliance
A project is legally compliant only if it has approval from GHMC. Therefore, it is safe to invest in property that is GHMC approved.
Locality closer to nature
The property must be in a location that is away from noise pollution and closer to nature. A serene surrounding is necessary for overall wellbeing.
Difference between handover of key and the project
There is a difference between the handover of the key and the handover of the project. A project handover means the completion of the project complete with all the necessary amenities and services, including electricity, water, and pipe gas.
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