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Investor

Buying a home? Here’s what you should know.

  • Make sure that the Title deed is clear - in original, and that it is solely in the name of the seller.
  • Ensure that the title papers of the property are sound, especially if it is inherited or jointly held.
  • Get a bank release in case it was at any point of time under mortgage.
  • Choose a builder with integrity and expertise. Your greatest assurance is a good track record.
  • Do a background check on the Builder, the Properties their Company has developed and the quality of construction.
  • Find if the Builder has a traceable track record for new launches and under-construction projects.
  • Assess the execution capability of the developer on timeliness and quality control.
  • Compare the Project you want to invest in with that of the Developers' competitors generally and with other Projects in the Location you are considering.
  • It will be wise to get all the papers verified by a lawyer before going ahead. They scrutinize original title, encumbrance certificates, building permits, land ceiling clearances and other relevant documents. The buyer-builder agreements should be equitable and should not contain clauses that are volatile of an investor's rights and interests.
  • Ascertain that the property has secured all clearances required by law, such as environment and municipal clearances and the authority to transfer the undivided share of land to each apartment owner and the entire plot to the society upon completion of the project. For projects under construction, insist on these documents to ensure that your investment is safe.
  • Your apartment has to be assessed not only from the point of utility but also from the point of yields and appreciation as an investment. An apartment has greater value when the project has adhered to approvals and other sanctions of the various agencies, government authorities.
  • If the seller is unable to produce the original and shares a photocopy, there is a possibility that a loan has been taken against the property. Initiate a thorough check to avoid the pitfall of the sale being challenged at a later stage.

Subject to the terms and conditions of the applicable agreements governing their use, which may change from time to time.

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