Anticipatory Measures to Be Taken While Purchasing a House Property

Dev Singhraha

Relocation Expert

One needs to be really careful and take all the possible precautionary measures while buying a house property as buying a property is usually a lifetime decision and any decision made in hurry or any mistakes made can fetch the person with lifetime regret. So one needs to be really well aware of everything while they make the purchase. As it’s correctly said decisions made in hassle never turns to be good.

Here are listed some precautionary measures to eye for while zeroing on the property.

It’s important for the buyer to do necessary research and ground work about the developer and have a look at the previous work done by the developer, his position in the market, take the reviews from the people who have invested in developer’s earlier project etc. So it becomes further easy to take a call on it.
Keep the documents like stamp duty, registration fees, receipts of VAT and service tax clear and also submit the acknowledgment copy of such documents to the developer.
It's necessary that the buyer may check the legality of the documents of the land and building as there are local bodies that approve maps of the building so before buying the property buyer should check on such documents so that he faces no trouble future.
Do not get into attractive offers laid down by developers as it’s not necessary that it will be always true there are chances that to get rid of the non-selling property developers may give such offers.
It’s advisable to invest in a project of reputed builder as he has good track record of various projects and they would never cheat to maintain their name and standards as it may be a risky proposition for investing into new upcoming developers project as he may not have any successful track record.
If there are certain terms and conditions out of your understanding do not hesitate of approaching a lawyer as he can guide you in the best possible way.
Buyer has the right to go through Land record, Title deed, authority or municipality approvals and other similar documents of the project. Buyer should also check that developer has obtained non-agricultural permission from the concerned authorities.
It’s advisable to a buyer to invest in house property plcaed in a prominent location as it helps easy connection with roadways, railways and other facilities like schools, hospitals, market etc. As it also cut down traveling time and expenses.
Buyers should not be driven away by offers of banks and NBFC and blindly sign for loan applications. Also, go for reputed banks and NBFC only to get you loan funds.
Look out for all the specifications of your property like natural light, air, electricity connection, water supply etc. also look for overall facilities of the building like gym, club house, garden, elevators etc.
It is always advisable to purchase a property which has the occupancy certificate which means buying the property in ready to move in apartment houses rather investing in an under-construction property as it can be less safe.

Hence, as humans, there are always chances to make mistakes but always try finding the best possible way to avoid it and learning from past mistakes and play safe as much as possible.

Looking for property portal?

Find a property Post property

Calculation of Service Tax and Vat on Under Construction Property

Just to have a perfect house is everyone’s dream but with changing times and updation in law and orders in our country it has become more expensive and time-consuming to get your house. There is two kind of housing property available for purchase o...

Dec 07, 2016
5 Aspects You Must Check in Your Home Agreement

After getting an approval for your home loan you might feel that you are one step closer to your new house. But before signing on to your home agreement papers, check the following aspects. There are various costs attached to the main price...

Nov 22, 2016
Demonetisation: Civic Bodies Boast Record Property Tax Collections

Although the central government's move to demonetise 500 and 1000 rupee notes has made a negative impact on many sectors all over the country, there are certain entities which have benefited due to the said ban. With the old 500 and 1000 rupee no...

Apr 14, 2017
Nris Watch Out for These Legal Aspects for Selling Property India

These days majority of the Non-Resident Indians (NRIs) are selling their properties in India as it has become extremely tough to maintain these properties due to ever increasing maintenance and housekeeping costs. It is also a suitable decision of ...

Dec 19, 2016