It’s the biggest investment of your life and usually requires immense sacrifices.
But staking your savings and signing on for a bank loan do not guarantee that your
dream home will materialize. As a homebuyer, you need to run many checks on the property
you are eyeing. Here’s how…
Most middle class people in the country dream of owning a house. Also, investing money
in real estate is always rewarding . But since the government is yet to prepare an ownership registry
of all the properties in the country, in many cases, the title of a property is not clear.
Besides, as there is no clear land acquisition policy, a real estate project can run into trouble
and the dream sour quickly. Besides, multiple agencies are required to give approvals before a project
can take off and be completed. Unless buyers are diligent and ensure that the property they are purchasing
has no encumbrances , they can easily land in trouble. Maharashtra State Government is now rolled out the new guidelines for the developers can check on MAHA RERA website.
In order to help homebuyers take the necessary precautions before entering into a deal to buy a house,
TOI is taking you through the various approvals and measures that a buyer should look for.
Checking credentials
Written agreement
Using bank for checking
Background check of the developer
Specifications
Price of the apartment
Mode of payment
Buyer-seller agreement
Checklist
Titles and documentation
List of approvals
Source:TOI
