Buying an under-construction flat can be a good way to enter the market, but it needs a little homework. Here is a short checklist to go through before you book.
1. Check the RERA registration. Every project must be registered with the state RERA authority. Note the registration number, and confirm the project name, promoter and possession date on the official RERA website.
2. Look at the promised possession date. Compare the date in the agreement with the date on the RERA page, and ask how much of the construction is actually complete.
3. Understand the real price. The published base price is only part of the cost. Ask for a written, all-inclusive cost sheet that lists parking, club membership, maintenance deposits and taxes.
4. Read the builder-buyer agreement carefully. Check the payment schedule, delay terms and what happens if the possession date is missed.
5. Visit the site. Compare what you see with the brochure – tower progress, access roads and the surroundings.
6. Ask about the carpet area. Super area includes shared spaces. Carpet area is what you actually live in, so compare projects on carpet-area price.
Our team at Property Junction is happy to walk you through any project before you decide.