Points to Remember When Buying Homes from Redevelopment Builders in Mumbai

Purchasing property is going to be one of the major decisions you make, without a doubt. It is also a fact that the process can get rather overwhelming. There are a lot of points that you must pay attention to even before choosing one. Selecting the right Redevelopment Builders in Mumbai and checking the property are just two of them.

As such, you should have a lot of questions when purchasing a flat, especially if it is in an area like Mumbai. After all, not all properties are the same. There will be several inquiries that you must make of your builder before finalizing a deal. Here are some of the most important ones.

Check the Status of the Property Title:

Before purchasing a flat, find out if it is free from legal issues. The best way to do so is by asking for the property title details. Generally, the Redevelopment Builders in Mumbai should have purchased the land from the previous landowners before starting the construction. However, it is common for local and small builders end up working with the landowners to form a Joint Development Agreement. This usually ends up creating several legal issues, often unintentionally.

As such, ask the builder for certain documents including the Intimation of Disapproval and Commencement Certificate. In case, the property is still being constructed, ask for the approval of drawings and the project plan.

Inquire about the Actual Property Price:

The actual price of any property includes the additional costs of living there such as water supply, parking space, electricity and a lot of taxes. In some cases, it may also include registration charges and legal charges. It is not uncommon for builders to advertise only the cost of the property without these additions. These extra charges for these utilities end up being added only when you take possession.

Check the Track Record:

It is always sensible to look into and examine the history of the builder. Find out about the projects they have undertaken and delivered in the past. Check the time they took for completing each. You can even ask the builder to furnish the occupancy and completion certifications for the delivered projects.

Most reputed builders will show these certifications and details on their websites. They may even show the details of their Ongoing Residential Projects in Mumbai they are currently working on. This is essential to gauging how good the company is.

Inquire About Sample Flats:

Sample flats or even properties can provide a good idea of how well the builder does its job. It can also be a guide to how your property is going to look if and when you take possession. As such, you should always ask the builder to show a sample flat. These samples can even provide an idea about the construction quality.

Find Out the Completion Date and the Possession Date:

This is something that you should be aware of as a potential buyer. After all, it will affect when you can move in to your new home, should you choose to buy it.