1. Verify the Title Documents
Before any payment, verify that the seller has a clear and marketable title. This includes checking the chain of ownership, ensuring there are no encumbrances, outstanding mortgages, or litigation on the property. An independent property lawyer should review all title documents.
2. Check RERA Registration
For under-construction properties in India, RERA (Real Estate Regulatory Authority) registration is mandatory. Verify the project's RERA number on your state's RERA portal and check for any complaints or violations filed against the developer.
3. Understand the Total Cost
The listed price is only the beginning. Factor in stamp duty (5-7% in most states), registration charges, GST on under-construction properties, society formation charges, and maintenance deposits. The total on-cost can add 15-20% to the base price.
4. Review the Builder's Track Record
Research the developer thoroughly. How many projects have they delivered? Were they on time? What is the quality of their past constructions? Speaking to existing residents in their completed projects can be invaluable.
5. Confirm Approved Plans and Occupancy Certificate
Ensure the building plans are approved by the local municipal authority and that the property has (or will receive) a valid Occupancy Certificate (OC). Without an OC, you may face difficulties getting utility connections and a home loan.
Working with a verified real estate consultant like PrimeEdge Realty ensures every one of these checks is completed before you commit to a purchase.