? Do extensive survey about the market rates and negotiate.
? Check for proper conveyance of Title in favour of the builder.
? Find out whether the property is free from any encroachment.
? If the property is to be transferred by means of Power of Attorney verify whether the attorney holder has the authority to sell the property.
? Check the license/development right/approvals of the builder.
? Always insist for complete original documents and check the owner ship of the Property to be purchased.
? If original documents are not available, make counter check of the ownership from the available photocopies. Verify the ownership from developing authority /Municipal Corporation or Tehsildar /Sub Registrar office.
? Ask for Certificate of non encumbrance i.e. free from any dispute all dues including municipal taxes electricity, water and sewage etc paid.
? Find out whether the property is mortgaged /hypothecated with a bank or under civil/criminal dispute.
? Ensure execution of proper Allotment Letter/Sale Agreements on your payments.Ascertain and confirm the target completion date.
? Ascertain the date of possession when the property will be handed over to the buyer.
? Ensure whether reputed financial companies approve the project. This will help you in getting financial loans .
? There should be clarity about provision of Gardens, Public utilities, Electricity, Roads, Water and Sewage etc ,which should be defined elaborately in the plan.
? Check whether the buyer will have to pay extra charges for the above mentioned facilities
? When buying property from the developer check carpet area, built-up area and super built up area, payment terms , study complete technical specifications of the design and material etc .
? Check the tentative layout/building plan and verify the built up area of the apartment. It is advisable to check the carpet area of the apartment and find out if the difference between built-up area and carpet area is reasonable.
? Ask for Occupation/Completion Certificate.
? No sale is complete without signatures of both the parties.
? Ensure that payments are made through cheques / DDs in the name of vendor against a proper receipt likes sale deed, Agreement to sell etc.
? Ensure the Conveyance Deed is registered after the entire payment has been made.
? It is advisable to check and go through all the documents relating to the origin of the property, chain of Title, Occupancy Certificate, sanctions from various authorities dealing with building plans, fire safety and Completion Certificate.
? For re-sale property, check demand notice relating to renovation, tax dues and latest receipts of payments made towards various out-goings such as water, electricity and ground rent.
? Ensure that the design offered is earthquake resistant.