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Thursday, May 19, 2011

Buying an Under Construction flat in Mumbai

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If you are buying an under construction flat in Mumbai or investing in property that is under construction, here are some things that you should take note of:

  • Verify the approved plan of the building, along with the number of sanctioned floors. Verify whether the floor on which you are buying a home on is approved. Whether the land on which the builder is building is his; or whether he has undertaken an agreemenr with a landlord- If so. Check the titke of the land ownership with the help of an advocate.

  • •Check the building byelaws as applicable in that area and ensure that the builder is building without any violation of front setback, side setbacks, height, arc

  • Check if the specifications given in the agreement to sell of the sale brochure match the ground reality or not.

  •  In locations where Urban Land Ceiling (ULC) NOC is applicable, check whether the same has been obtained.

  •  Whether an NOC from water, electricity and lift authorities have been obtained.

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