It can be quite tempting to buy a house at a price range that is slashed by 20-30 percent. However, one needs to be cautious and smart while buying a house at an under-construction stage. Several property builders have upcoming 1 and 2bhk flats in Thane that are being sold at slashed price ranges. But, there are certain risks involved in this decision that must be considered before investing in a house.
– Record Checking: While looking for 1or 2bhk flats in Thane it is important that the buyer does a proper record check before deciding to make any kind of payment to the builder. Check if the person you are dealing with has a good reputation in the field of real estate. A trusted name will always be professional and guarantee good quality construction.
– Documentation: While you keep your documents ready for the final deal, you must also request the seller or developer to produce a Commencement Certificate (CC) and an Intimation of Disapproval (IOD). The IOD mentions all the authorities that have permitted the builder to construct the property like the departments of fire, traffic, environment and the pollution control board. The CC is a proof that the builder can begin constructing the building.
– Proper Booking: Once you have done a proper background check, you can go ahead with the process of booking your flat. It is also best that you book your flat on one of the levels that has been approved by all the authorities in the IOD. Sometimes, the builders tend to promise their clients that the permission for higher levels is yet to come. Do not be fooled by such baseless statements. Invest only when there is proper documentation about everything that the builder is telling you.
– Legal Assistance: If you are someone who is not familiar with the terms and laws of real estate, you can also take help of a lawyer or property consultant who specialises in this field. It is always better to take along a person who knows about all the documents and permits required. There are various under construction projects in Thane, Ghatkopar, Kalyan, and other parts of Mumbai. It is always better to get a proper check done before you actually buy the property.
These are the steps that you must keep in mind before buying a flat in under-construction projects in Thane or other parts of Mumbai and its developing outskirts. Be sure of all the documents so that you can make an informed decision.