Far too much is at stake when you plan on investing in a property of your own. It is not just your hard earned money but also your emotional capital. Keep three basic rules in mind and ask some key questions to be on the safer side.

Rule One:
Don’t take what you are told at face value.

Rule Two:
Think through and double check everything.

Rule Three:
Don’t rush, take your time.

Questions to ask the builder:

• Check if the builder has clear titles to the property. Ask for all the link documents as this will reveal the names of previous owners and all the sale deeds easily.

• Ask for the Commencement Certificate. It will make it clear that the home/apartment you are buying is being built on land with clear title and is GHMC approved.

• Ask if the builder can issue an Occupancy Certificate. It may be required during the registration and stamp duty process and also when you want to re-sell.

• Check if well-known banks are tied up with the builder. It is a good sign and an easy way to protect you from fraud.

• Always ask for approved building plans. This will give you the look and feel of the spaces around the building and the amenities provided within it.

• Also, ask for approved floor plans to get an idea about the layout of the apartment and the common areas.

• Ask if any additional charges will be levied over and above those indicated to you like maintenance and legal fee, water and electricity metering. These may not be disclosed in the first meetings.

• Ask when the project will be ready for taking possession.

• What are the likely charges till then? Check if there is a pre-EMI component. (A kind of interest charged for part payment of the loan from banks). This is an extra charge and not same as EMI.

• Get the scheduled dates of handing over in writing from the builder and other terms they may have in place. A great help and a binding document if and when deadlines are not met.

• Ask the builder about the carpet area and total super built-up area and what will be written into the sale agreement. Also, check the height and directions of the apartment for Vaastu purposes.

• Ask what other utilities are in-built and provided upon sale like ceiling fans, furniture, and fixtures, kitchen amenities etc if any.

These rules and questions will set you on the right path and make a right start. You will also feel more re-assured because you had decided to find out everything for yourself. Set aside some time so that you can do a very thorough job of it.