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Very useful Checklist for Homebuyer


                                                     Ramesh Agrawal (LL.B. & CA)

1. Do Your Research.

For real estate investment the most important thing is research. Read about different builders online, go through newspapers on real estate, visit fairs on real estate, talk to good & experienced real estate agents and other people having good knowledge like experienced homebuyers.

 2. Make A List of Builders

Once you are done with your research, make a list of builders you are interested in and most likely to invest your money with. Find the details of their existence, people behind and since when they have been into this business. Connect with them and gather relevant information like carpet area, possession date as per RERA, specification, price quotes, etc.. Ask for the fixed quote and not the estimates. It will help you to choose the best services at reasonable prices.

 3.   Registered Under RERA

For under construction property verify that the builder is registered with RERA and has obtained all necessary approvals.

 4. Quality Matters

Look for quality construction and pay attention to details when you visit any of the ongoing or completed site/project of the builder, the building products that are used, etc.

 5. Choose Your Builder

Based on the above, decide and discuss the deadline with builder. Ask your builder what kind of insurance and security they provide and if they have, then ask for the same in written for surety.

6. For your dream home, here’s a list of questions you should have answers to: -

a)       Is the Project registered with RERA?

b)      What is the date of completion of the project according to the RERA Certificate?

c)       Is the builder adhering to the terms and condition mentioned in RERA Regn Certificate?

d)      Has the builder received all the necessary Approvals?

e)      Whether the banks have approved the project of the builder to grant loan to the buyers?

f)        Is the Location suitable?

g)       Is the Builder/Developer trustworthy?

h)      What are the other projects done by the builder?

i)        Whether residents of other projects of the same builder satisfied with the Builder?

j)        How good is the Connectivity to other places?

k)       Are the facilities like hospitals, schools, public transports, parks, etc. available around the property?

l)        What is the possible future Resale value?

m)    What all amenities are being offered?

n)      How is the Construction quality?

o)      Has the builder received the Occupancy certificate?

p)      Has the builder received the Completion certificate?

q)      Whether TDS is applicable? If so whether complied?


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