• Mandatory checks while booking an apartment

I decided to buy an apartment in a prelaunch property in Yelahanka, Bangalore. The builder, DS Max, has a fair reputation for budget properties. I have visited the site and got price details. since it is a prelaunch no other details are available. They are offering a good price since it is a prelaunch booking. They informed that they got RERA registration. They have asked me to pay 1.3 lacs for blocking my booking, 3 lacs at the time of launching, 20% at the time of agreement and balance with the progress of the project. I would like to know 1. what are the detais to look at while paying booking amount? 2. if they delay the launching of the project shall I demand my booking amount back? 3. should I ask them to give in writing that the launching and completion of the project will be as per the promise? 4. any precautions to take while choosing a prelaunch project?
Asked 6 years ago in Property Law
Religion: Hindu

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7 Answers

You should call him to produce some documents like plan approval certificate from the concerned authority, whether builder is owner of the land (Generally Builders gets power of attorney from the real owner) or a land building agreement has been made with the real owner of the land, whether there is a consent letter from the real owner that he is ready to execute sale deed, you should read about the standard agreement that what will be the consequences if delay is caused by the Builder.

You have to enquiry about clear title of the land, generally in the standard form of contract builder already mentioned about the title of the land. But also see whether any Clause is mentioned that builder will complete the project in stipulated period of time.

Shivendra Pratap Singh
Advocate, Lucknow
5127 Answers
78 Consultations

4.9 on 5.0

1.Just ensure that the builder is having a clear title over this plot of land upon which this apartment is being constructed. Peruse the BBMP extract and khata certificate too. Ensure that the property is free from encumbrance.

2. Yes you could do that. Ask the builder to give you in writing, informing you of the date on which he'll begin the construction work.

3.yes, take that in writing.

4. Same as above in 1)

Vibhanshu Srivastava
Advocate, Lucknow
9600 Answers
303 Consultations

5.0 on 5.0

You should never book flat during pre launch

2) check whether building plans are sanctioned and commencement certificate issued

3)then only book flat

4) contact local lawyer and check whether title is clear and marketable

Ajay Sethi
Advocate, Mumbai
94720 Answers
7532 Consultations

5.0 on 5.0

This is the typical checklist.

Checklist For Buying A Property

Below mentioned is the checklist for buying a property with brief explanation:

1) Land titles/ construction permits/ Approvals from authorities :

2) Agreement :

3) Title clearance certificate :

4) Income Tax clearance (37-I and 230 A):

5) Stamp duty and registration:

6) Society clearance and membership:

7) Taking possession of the flat:

Checklist for buying a property

1) Land titles/ construction permits/ Approvals from authorities :

Ownership of land in favor of the builder

Conveyance of property in favor of the society

Urban Land Ceiling and Regulation Act clearance certificate, if applicable

Power of Attorney executed by the landlord in favor of the developer in case it is joint

development between landlord and developer

Permission to use land for non agricultural purpose

Original plans approved by municipal authorities (total area, number of floors, etc.)

Commencement Certificate issued by municipal authorities permitting the developer to

begin construction

Occupation Certificate issued by authorities certifying that the building is complete and

fit for occupation.

2) Agreement :

Check the serial number of flat, floor is clearly indicated in the agreement;

Carpet area/built-up area and purchase consideration of property is clearly stated;

Floor plan of the specified property is annexed with the agreement;

All the amenities (type of construction, floorings, doors, windows, sanitary, water

supply, electrical fittings, etc.) are clearly specified;

The agreement is duly stamped and signed and lays down a payment schedule.

Original stamped receipts and previous sale/conveyance deed in case of resale properties;

3) Title clearance certificate :

Obtain a title clearance certificate from the advocate certifying that the property intended

for purchase is unencumbered and has a clear marketable title.

Devajyoti Barman
Advocate, Kolkata
22824 Answers
488 Consultations

5.0 on 5.0

First of all verify the documents related to the property proposed to be bought.

The builder should have a proper title document on which the proposed structure is likely to come up.

You should ensure that the building plan is approved by the competent authority.

There has to be a sale agreement between the buyer and the builder and this sale agreement is to be registered before the concerned registrar's office.

You can obtain a legal opinion from a lawyer before paying even the initial amount

T Kalaiselvan
Advocate, Vellore
84921 Answers
2195 Consultations

5.0 on 5.0

You must include all your apprehensions in the BBA

Also if you want you can get an agreement to this effect that if the project is not started on time then you money must be refunded.

Anilesh Tewari
Advocate, New Delhi
18078 Answers
377 Consultations

5.0 on 5.0

Usually the builder will ask you to enter upon a BBA before taking the money and before booking the flat, it is advised that you read the conditions incorporated therein carefully and get the necessary changes done as you deem fit.

Regards

Anilesh Tewari
Advocate, New Delhi
18078 Answers
377 Consultations

5.0 on 5.0

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