While investing in an under-construction property might seem like an attractive option, you have to look into the following factors:
When buying a flat in a building that's under construction, you have to check the following...
While investing in an under-construction property might seem like an attractive option, you have to look intou00a0 the following factors:
>>u00a0Verify the approved plan of the building, along with the number of sanctioned floors.
>>u00a0Verify whether the floor on which you are buying a home on is approved.
>>u00a0Whether the land on which the builder is building is his; or whether he has undertaken
an agreement with a landlord. If so, check the title of the land ownership with the help of an advocate.
>>u00a0Check the building byelaws as applicable in that area and ensure that the builder is building without any violation of front setback, side setbacks, height, etc.
>>u00a0Check if the specifications given in the agreement to sell of the sale brochure match the ground reality or not.
>>u00a0In locations where Urban Land Ceiling (ULC) NOC is applicable, check whether the same has been obtained.
>>u00a0Whether an NOC from water, electricity and lift authorities have been obtained.
