Let the slowdown in the property market not lead you to making uninformed decisions. At a time when sentiments in real estate are not exactly upbeat, it becomes all the more necessary to keep your checklist handy while buying or selling off a property. In fact, you can guard against being tricked into a wrong or illegal property purchase by keeping a few things in mind. We fill you in on some key aspects that can be of immense help while closing a deal.
Anuj Puri, chairman and country head, Jones Lang LaSalle Meghraj (JLLM), says it is important that a buyer takes out sufficient time to research a localitys past, present and future market dynamics as well as the reputation of the developer/ seller.
There is no substitute for awareness and information and hence, a buyer or seller needs to keep himself fully informed. While buying a property, the purchaser needs to ask the developer for approved drawings of the project, a copy of the IOD and completion certificate and a clear land title. For apartments, the buyer needs to establish the existence of a proper society. If buying the property second-hand, proper transfer and re-registration are necessary.
More : economictimes.indiatimes.com