Buying a flat in bustling cities like Pune and Mumbai is a significant investment. To protect your hard-earned money and avoid future legal troubles, it’s essential to follow the right steps and take necessary legal precautions. Here’s a simplified Legal Checklist to help you navigate the process and ensure a smooth property purchase.
Key Legal Checklist Before Buying a flat from builder
1. Non-Agriculture (NA) Land Permission
Ensure the land on which the residential building stands has been converted from agricultural use to non-agricultural (NA) use. If the land lacks NA approval, the entire construction becomes illegal.
2. Commencement Certificate
Verify the construction commencement certificate issued by local authorities like municipal corporations or regional development authorities. This document confirms the legality of the construction work.
3. RERA Registration
Check the Real Estate Regulatory Authority (RERA) registration status of the project. Visit the state-specific RERA website for details. For instance, in Maharashtra, you can find information on https://maharera.maharashtra.gov.in/projects-search-result.
4. Approval of Building Plans
Ensure the building plans have been approved by the competent authorities. Confirm that the flat you intend to buy matches the sanctioned plans and not just the proposed plans presented by the builder.
5. Litigation Search
Investigate if there are any ongoing legal disputes related to the property or project. Legal battles can delay possession indefinitely. Focus on disputes that directly impact the project and seek professional legal advice if needed.
6. Builder’s Financial Stability
Assess the financial health of the builder. Many projects stall because developers face financial crises or take excessive loans against the property. Choose a builder with a solid reputation and a clear financial track record.
7. Completion Certificate
If the builder claims the project is complete, ask for the completion certificate obtained from the relevant authorities. This document ensures the construction complies with approved plans and building regulations. If apartments has been booked in construction phase then ensure your builder obtains it .
8. Occupancy Certificate
Verify the occupancy certificate, which certifies that the property is safe for occupation. Without this document, you may face legal and safety issues while taking possession. If apartments has been booked in construction phase then ensure your builder obtains it .
9. Possession and Parking Allotment Letters
Obtain a possession letter and a parking allotment letter from the builder. These documents help avoid disputes regarding flat handover and parking rights in the future.
Conclusion
Buying a flat is a life-changing decision. By scrutinising these essential Checklist before buying an apartment , you can secure your investment and enjoy a hassle-free experience. Always consult legal and real estate experts to guide you through the process.
Pro Tip: Bookmark your state’s RERA website and regularly monitor the project’s status for updates. It’s better to be proactive than face unexpected challenges later!