| With the emergence of nuclear families,
the growing apartment culture has been instrumental
in breaking barriers and offering the advantages of
community living. Good apartment projects offer its
residents the convenience of lifestyle facilities like
a club-house, swimming pool, gymnasium etc. Apart from
paying a lot of attention to the aesthetics and by creating
visually appealing landscapes, security is given priority
with all the hi-tech security gadgets that good apartments
offer today.
Read on, for a few tips to guide you in making
the right choice:
Define your requirements for a home
You want to buy an apartment for occupation or for investment.
Your preference of apartment size? How many bedrooms
do you require? What should be the optimum size of each
room? Does it meet your present and possible future
requirements? This check should simultaneously be made
for sizes of living room, dining room, kitchen and balconies.
Decide on a budget. You also have the option of availing
a housing loan.
Your location preference - Close proximity to schools,
colleges, hospitals, supermarkets, etc.
Would you require an open or covered parking?
What about water and power supply? Is it sufficient
to meet all your needs and demands?
How good is the ventilation and direction?
What are the specifications offered i.e. the kind of
floorings being offered, the tiles in all the rooms,
the quality of woodwork for doors, windows etc. ?
What are the amenities offered like club house, swimming
pool, gymnasium, supermarket, etc.
Security and maintenance.
 |
Check whether the property has clear
legal titles |
 |
Carefully scrutinize the contract, and consider
a legal review before signing. |
 |
Ensure that the developer has entered into proper
development agreements. |
 |
Check if the developer has the authority to sell.
Scrutinize the draft of agreements to be executed
for sale by the developer |
 |
The sanctioned building plan should be verified
and a confirmation from the municipal authorities
has to be taken about its adherence to building
bylaws. |
 |
Be sure that the developer has acquired approvals
from the Municipal Corporation, Area Development
Authorities, Electricity Boards, Water Supply &
Sewage Boards. |
 |
Check if the developer has title and possession,
including the right to convey transfer. |
 |
Check if the transfer of property approvals has
been obtained from the statutory land development
or planning authority or competent authority constituted
under the Urban Land Ceiling and Regulation Act
and the Income-Tax Act. If so, have the approvals
been obtained? |
 |
Ask for completion and occupation certificates.
|
 |
Check the approximate stamp duty & registration
cost involved. |
Check the other aspects
 |
Location of the building. Also check
the approach roads and surrounding areas |
 |
Check the distance from facilities like schools,
colleges, transport facilities, markets, hospitals,
etc |
 |
Find out the general profile of other residents/owners
in the building. |
 |
Visit the developer's earlier projects to check
out the quality of the construction, landscaping,
and other amenities. Find out about the architects
and the contractors. |
 |
Check for the specifications offered by the developer
- flooring, sanitary / kitchen fittings, etc. |
 |
Check on amenities provided in the building and
if any additional cost is involved for the use of
these amenities. |
 |
Check on the availability of uninterrupted supply
of utilities like water & power, a good drainage
system. |
 |
If the building is under construction, confirm
tentative time for completion - enforce suitable
penalty in case of delay. |
| |
|
|