PC: amarujala
Whether you are employed or have your own business, you probably save money to fulfill various dreams and needs related to your family, home, children, and more. People save for various purposes like marriage or higher education. Many people aspire to buy their dream home and in some cases, even take a loan to achieve this goal. While lakhs of rupees are spent on buying a flat, it is necessary to pay special attention to certain aspects while dealing with property dealers or directly with flat owners. Failure to do so may lead to regrets later. Let us look at some of the key points to consider while buying a flat.
Information about the land: When you buy a flat from a builder, it is important to ensure whether the land on which the flat is built falls under the jurisdiction of the Municipal Corporation or not. This is important because it may be subject to land border laws, which could create complications in the future.
PC: amarujala
Information about the real owner of the flat: It is your responsibility to gather complete information about the flat you are purchasing. Find out who was the initial owner of the flat and how many times the property has changed hands. This is necessary because nowadays, people sometimes sell property with forged documents, causing a lot of trouble for buyers.
Verification of documents: When purchasing a flat, it is advisable to get the property registry verified. It is important to differentiate between genuine and fake documentation as cases of fraud related to property transactions are not uncommon.
PC: amarujala
Know the true price: While we pay close attention to factors like location, amenities, and total area of the flat, we may sometimes remain unaware of the actual market price. This can be taken advantage of by dealers or sellers who may charge exorbitant prices. Therefore, it is essential to research the market rate to ensure that you do not overpay for the property.
