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BUYING TIPS

Below are few of the important things, one should know before planning to purchase a new property. A handy and simple property purchase checklist one should consider before taking decisions on buying in Aurangabad city…

Common basic things to check about property..

  • Check for rate of property currently going on in that location by asking few people/agents (Like The Prime Property) etc., so that you will not land up putting up more money in the deal.
  • Check if the home you purchasing has well maintained society registered properly so that most of the legal matters are taken care and you are at lower risk of being cheated.
  • Check both Original documents and also previous sale docs (if any) before giving token money for the deal.
  • Check if that property can get Loan from banks, if not why ?
  • Check if the space area for carpet, built up or super built up.
  • Check if it CIDCO, MHADA or TOWN PLANNING approved, or alternately if property is old then proper Completion Certificate, Plan Copy and Saat Bara Utara (7/12 Utara) documents there with seller.
  • Check if all previous dues has been paid like (electric bill, yearly municipal charges for property, society charges, NA charges) etc.
  • Ask your advocate to calculate required Stamp Duty and Registration Fees with advocate fees.
  • Property clearance certificate and No Objection Certificate (NOC) from society is must before you register any property.
  • Do not try saving Stamp Duty charges as during litigation in most cases you cannot fight legally with it.
  • Its always a good idea to meet the society Secretary/Chairman of the property you purchasing. This will help you know some legal society pendings, share certificate related, maintenance related and NOC related to the seller.
  • Check the important documents before you give the token amount for purchasing that property, some of the documents are Society NOC, Name of electricity bill and Property tax receipt, Name of the maintenance receipt, All the previous documents of purchase/sell of that property agreement, Full plan copy (floor plan) of that building and the wing you planning the purchase, Deed of Declaration. Check if the legal government stamps are seen clearly on same.
  • Most important : Spend on the 100 rupees stamp paper and get the signature, left thumb print with photo attached on the seller before giving the token amount and make the terms very clear on registration date and what if for some reasons the deals gets cancelled. It should be on notarized.
  • Check if the property was already mortgaged before and if the things are already cleared and settled with the final note of settlement. One best way is to check for all the sequence of original documents of the flat you purchasing.
  • If you are the first time buyer of say this is your first property to be purchased, keep some extra cash handy as you might need it to miscellaneous expenses like post registration, society charges to be paid extra to builder, agent’s commission and some renovations etc.
  • Don’t rush for a property deal, Neither wait too long. If you find a deal interesting yet in low cost, find the valid reasons behind same. Common reasons are family dispute, urgent need of money for which the owner of flat sells at low cost, Or some litigation’s ?.
  • If you find the deal proper and have checked every aspects, Next is to do all money transactions in written on 100 or 500 rupees government stamp papers. Add a photo of seller, with signature and left thumb print across photo with all terms conditions with DATE written.

About the Builder / Developer

About the Title Deeds

Inspection of Plans / Drawings

Amenities / Specifications

Possession

Mode of payment

Stamp duty and registration

Things to take care before you buy a house from a second seller

Things to take care after buying a house in a building society

If you have decided to buy a flat under construction, you must check the following facts

You probably have more questions of your own, but hopefully this will guide you to find a perfect house for you which you would want to call “home sweet home.”

Disclaimer

  • The above details are subject to change. Kindly refer to the respective bodies for complete and up-to-date information.

For more details please feel free to contact us.

ADDRESS

The Prime Property,
Shop no. 2A, Rugved Apartment,
Plot no. 98/99, Tilak Nagar,
Aurangabad-431 005, Maharashtra, India

EMAIL

Property Enquiries : theprime@aurangabadproperty.com

 

General Information : info@aurangabadproperty.com

 

Personal Information : sandeep@aurangabadproperty.com

CONTACT US

Office
+91-240-2329566, 6513166

Residence
+91-240-2481266

Cellphone
+91-98230-51811

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