Documents to be checked while buying a flat | Follow these tips while buying a flat to avoid problems in future

September 15th, 2010| In India.

Documents to be checked while buying a flat | Follow these tips while buying a flat to avoid problems in future

Flat

During the recession period the rates of flats in Hyderabad has decreased.  Flats which were available for Rs.3,500 per square feet are now available for fewer rates.  Builders are ready to sell the flats even for Rs.2,000 per sft.   But these flats should not be bought without finding out complete details.

Ask for the original documents of title and government permissions.  Otherwise take the certified copies.  Along with Government permission, find out whether permissions for electricity, drinking water and drainage are taken or not.  Know, whether the original title is on the name of builder or the owner. Or if there is a representative of the owner, find out whether he has the authority to sell and register the land.

Take the final decision only after checking the plan approved by the local authorities.  Do not rely on the builder’s plan which is shown to the customers.  As per the approved plan, check the details like how many floors can be constructed and how many flats are there in each floor.  There are people who construct building on government land to cheat the customers.  Ask the builder to show the no objection certificate issued by the collector.

Some builders mortgage the land to get loans.  If customer depends only on the encumbrance certificate, these details cannot be known.  If a loan is taken on the land, Banks will insist the customer who has bought the apartment to pay back the loan. Buyers should be very careful about these things.

Some builder sells the flats with by-numbers.  They sell the same flat to various people.  Do not give any chance to such people to cheat you.

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