Tips while buying a home

Buying a home is a dream of a lifetime for most of us. Before applying for a home loan, consult professionals who can help you deicide what suits you best. Here are some tips that will be helpful when you are looking for a house on your own.

1. While buying a flat from a promoter or builder 
   1.  With respect to the location
       
      1. Check for proper approach roads.
          
      2. Ensure secured electricity and water connections.
          
      3. Ensure that well laid out drainage, sewerage and garbage disposal arrangements have been made.
          
      4. Is there any pollution due to industries etc in the area?
          
      5. Level of developmental activities of the area - adequate public transport facilities and other vital amenities like educational institutions, hospitals and shopping avenues
       
      
   2. With respect to approvals
       
      1. Check if your builder/promoter has been granted documented approvals from Municipal Corporation, Area Development Authorities, Electricity Boards, Water Supply & Sewerage Boards, Airport Area Authorities
          
      2. Check if the builder/promoter has secured approvals from Pollution Control Boards, Agriculture & Forest Authorities
   3. With respect to the property
       
      1. Check for proper Development Agreements and the authority for conveyance of title in favour of builder/promoter.
          
      2. Obtain a clear and marketable title of the property.
          
      3. Ensure execution of proper sale agreements on your initial payments.  
      4. See the sanctioned plan.
          
      5. Register the property.
          
      6. Verify the plinth and carpet area of the property
   4. With respect to amenities
       
      1. Verify the specifications given by the builder regarding including quality of construction and availability of drinking and potable water have been delivered
          
      2. Assess the natural lighting, ventilation, water connection & sanitary connection status of your prospective property.
          
      3. Check up common service area charged and their reasonability
       
2. While buying a flat from a second owner
    
   1. With respect to the location
       
      1. Check for proper approach roads.
          
      2. Check for electricity and municipal water connections.
          
      3. Whether well laid out drainage, sewerage and garbage disposal arrangements are made.
          
      4. Pollution due to industries etc in the area.
          
      5. Check for developmental activities of the area.
          
      6. Public transport facilities in the area.
          
      7. Check for educational institutions, hospitals, shopping avenues nearby, green belts & rainwater drainage.
   2. With respect to approvals
       
      1. Documented approvals from city corporation, Area Development Authorities, Electricity Boards, Water Supply & Sewerage Boards.
   3. With respect to the property
       
      1. Title deeds of the vendor of the property.
          
      2. Previous title deeds covering a period of 13 years.
          
      3. Sanctioned plan.
          
      4. Encumbrance certificate for the past 13 years.
          
      5. Upto-date tax paid receipts.
          
      6. Valuation of the property from a registered valuer.
          
      7. Check if the flat/apartment is free from tenancy.
          
      8. Register the property. 
   4. With respect to amenities
       
      1. Check for the condition of the building and the future life expectancy.
      2. Whether drinking water is available.
          
      3. Check for natural lighting, ventilation, water connection & sanitary connection
   .
   
3. While buying an independent house from a promoter/ builder
    
   1. With respect to the location
      1. Check for proper approach roads.
          
      2. Check for electricity connections.
          
      3. Whether municipal water connections are present.
          
      4. Whether well laid out drainage, sewerage and garbage disposal arrangements.
      5. Pollution due to industries etc in the area.
          
      6. Check for developmental activities of the area.
          
      7. Public transport facilities in the area.
          
      8. Check for educational institutions, hospitals, shopping avenues nearby, green belts & rainwater drainage.
   2. With respect to approvals   Check if necessary approvals from city corporation, Area Development Authorities, Electricity Boards, Water Supply & Sewerage Boards, Airport Area Authorities have been obtained.
      
   3. With respect to the property
       
      1. Sale deed of the vendor of the property.
          
      2. Clear & marketable title of the property.
          
      3. Sanctioned plan.
          
      4. Encumbrance certificate for the past 13 years.
          
      5. Upto-date tax paid receipts.
          
      6. Valuation of the property from a registered valuer.
          
      7. Register the property.
          
      8. Check plinth area of the apartment.
          
      9. Check carpet area of the apartment.
          
      10. Ensure that the price being paid for the flat, including the common service area is reasonable.
   4. With respect to amenities
       
      1. Check for the condition of the building and the future life expectancy.
          
      2. Whether drinking water is available.
          
      3. Check for natural lighting, ventilation, water connection & sanitary connection.