Whether you are investing in Agrasain Aagman Flats in IMT Faridabad or some luxury apartment complex, you must do due diligence before you pay your hard-earned money to buy the property. While certain things are basic when you are trying to investing affordable housing in Faridabad like the location, the price the materials used, and so on. However, in addition to these important elements, there are certain other factors which also you must keep in mind. In this article, we will share with you some important elements that you should do proper research about and ask your builders are planners to provide before you buy the property which you have chosen.
License and Approval
When you are buying an apartment, then the first thing to look for is the paperwork of the builder. Some of the important paperwork that you should check thoroughly is the approved plan of the apartment, the rights of the land, environment clearance, commencement certificate for the work, and the legality of the apartment. Furthermore, you must look at the encumbrance certificate and figure out whether the land is free from all the legal dues.
Verification of the Builder
In addition to the paper works related to the apartment that you want to buy, verification of the builder is also very important. As a buyer, it is your responsibility to research the history of the developer, which you can do easily by going to his/her previous sites to find out the standard of work he/she provides. In addition, you may find that some piece of the land in the previous project is under litigation or the quality of the material used is not up to the standard (you can find it out by talking to the inhabitants of those apartments). Spending your valuable time researching the builder will go a long way in ensuring that you get the best value for your money.
Loan Facilities and List of Banks That Are Financing the Project
You will find that every well-known builder is registered with one or more leading banks to provide easy loans to its customers. Therefore, you must first find out whether the builder who is selling the apartment offers this facility (which also shows its good creditworthiness with the banks).
Sizing and Requirement
The area which is mentioned in the brochure most of the time is regarding the super built-up area. As a buyer, you must look at the carpet area, the built-up area, and the super built-up area to find out whether the apartment fulfills your requirement.