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One needs to be careful while buying new flat to avoid getting involved in legal hassles. A lot of care is needed from the beginning right from site visits till the registration of flat. When buying a Residential flat/ Apartment, there are certain important legal and taxation issues which you cannot afford to ignore, more so, if you want to make money from your investment in real estate.

A prospective buyer should try to keep the following points in mind before making the final commitment of buying a property.

1. Whether the plot on which the building stands is non-agricultural (N/A) and has a clear title.

2. Whether the building is in the name of the builder.

3. Whether a co-operative housing society has been formed and if yes whether the conveyance of the plot and building in favor of the society has been completed by the builder.

4. The current rate (Rs. /sq. foot) of the area.

5. Whether the rate offered to you matches with the area rate and the basis – built up or super built up. Check what is included in “super built up”.

6. What amenities is the builder offering?

7. The ratio of white: black amount. Ensure that the “white” amount is in keeping with the official declared rate for the area for the purpose of paying stamp duty.

8. The amount of stamp duty to be paid. Without paying the stamp duty, the flat is not legally yours.

————-:Magarpatta City:————-

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Click Here >> View Magarpatta City Mall, Magarpatta City

————-:Nanded City:————-

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Click Here >> View Asawari, Nanded City

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