SUPREME BUILDERS AND DEVELOPERS, Just don't build... create!
What are the essential aspects to be considered before purchasing a property which is registered in the name of a company?

Before purchasing any property, you should verify from the Registrar of Companies that the property is neither mortgaged nor collateral security against any loan etc.

Which are the important documents you should check before buying a property?

Before purchasing a property, you should look at the sanctioned layout plan, building plan, ownership documents etc. As all these processes are very hectic and requires a lot of legal probing, it is advisable to contact an advocate for further advice.

What papers and permissions should you check before buying a flat from a builder in a building under construction in order to get assured about the genuineness of the builder?

While buying a flat from a builder which is under construction, you need to check the following:

  • You should check the approved plan of the building along with the number of floors.
  • Be sure that the floor you are purchasing is approved.
  • You should check that either the builder owns the land on which he is constructing or he has undertaken an agreement with a landlord.
  • You should check if the builder is constructing without any violation of front setbacks, side setbacks, height etc.
  • You should check that specifications given in the agreement to sell of the sale brochure is entirely followed by the builder or not.
  • Check the reputation of the builder in the market.
  • Ensure that urban land ceiling NOC, NOC from water and electricity authorities, NOC from lift authorities has been obtained or not.

What constitutes conclusion of sale of a property?

An agreement of sale, coupled with actual possession of the property would be considered as a conclusion of the sale. Usually, the entire amount is paid at the time of handing over possession.