Looking to buy a Flat? Things to remember before booking any.
* Background verification of the Builder and the Construction area
- Do a deep research about the place on which construction is taking place.
- It is important that builder and his company has all the permit and clearance of all required legal activities before the construction start.
- Clearance from electricity board of respective area, local registration body, water board.
- You have the authority to cross check all the permit and clearance document from the builder of the project site with your family lawyer
- Try not to invest in property where construction not yet started
* Carpet area vs Super area
- Super area is the area on which builder actually quote the price whereas carpet area the actual floor area. Super area covers outer wall thickness, staircase, lobby, elevator space which every owner of the flat has to bear the cost.
- Always consider carpet area which is the flooring area of the flat than super area
- Never take a decision of booking the flat just by looking at sample flat.
- Usually, sample flats are designed and decorate to attract the buyer.
- The ceiling is another important factor to consider when buying a flat. Sample flat have the higher ceiling than other flats.
- Amenities consists of Swimming pool, playing area, gym, garden, jogging track, club house, indoor games, prayer hall, tennis court, badminton court and much more
- Ask for the facilities which will be included in the cost of the flat.
- Get Clarification with the builder about maintenance of amenities in future.
* Alternative for late possession
- Always pay close attention to Possession of flat.
- Most developers ask for a 3-6 month of grace period which means a delay in hand over the flat due to the bad monsoon, shortage of fund etc.
- This grace period should be mention in contract and alternative clause must include in the contract if the further delay in possession then builder must give compensation to the flat owner every month until possession.
* Cost of flat including other expenses
- Always plan your budget for your big time investment because booking a flat is one thing but other expenses say advance maintenance, official registration cost has to be borne by Owner
* Project Location
- Search for a project which has nearby basic facilities such as supermarket, general store, medical store, clinic,
public transportation. So that in case of emergency everything is easily accessible to you and your family
* Parking facility
- Check out the parking location of the building. Be sure it is not too far from your flat or away from your building block.
* Water facility
- On top priority to know how builder is providing the facility for water storage and water distribution system. The number of tanks, the capacity of each tank, any system to harvest rainwater, water reuse system if any each and every detail about the water is to be questioned properly.
These above points to remember before buying any flat or doing any investment in real estate which will help you to make a proper decision and your most of the problem can be solved.