What to consider before buying a flat

Before buying a flat, thoroughly check legal documents like title/sale deeds, RERA registration, and encumbrance certificates with a lawyer, verify builder reputation and track record, inspect the flat's construction quality, floor plan, and ventilation, confirm amenities and community fit, understand all financials (hidden costs, taxes), and assess the location for connectivity and future value.

Legal & Documentation

• RERA Registration: Ensure the project is registered with the Real Estate Regulatory Authority.

• Encumbrance Certificate (EC): Check for any loans, mortgages, or legal disputes on the property.

• Building Approvals: Verify approved plans from local authorities.

• Completion/Occupancy Certificate (CC/OC): Essential for ready-to-move flats, confirming it's fit for habitation.

• Property Tax Receipts: Ensure all taxes are paid up-to-date by the seller/builder. 

• NOCs: Get No Objection Certificates from the society and relevant authorities.

• Title & Sale Deed: Confirm clear ownership history (Mother Deed) and current legal transfer.

Builder & Project

• Builder Reputation: Research their track record for quality and timely delivery.

• Construction Quality: Inspect materials, structural integrity, and warranty.

• Amenities: Confirm availability and capacity for parking, gym, pool, etc..

• Community: Check the number of units per floor for privacy and the general profile of neighbors.

Flat Specifics & Location

• Floor Plan & Layout: Look for good ventilation, natural light, and efficient use of space.

• Carpet Area: Confirm the actual usable area vs. built-up area.

• Location: Prioritize connectivity to work, public transport, schools, and hospitals for better resale value.

Financials & Hidden Costs

• Total Cost Breakdown: Account for GST, stamp duty, registration, legal fees, and corpus fund beyond the basic price.

• Recurring Costs: Budget for property tax, maintenance, and utility bills. 

Before Finalizing

• Hire an Independent Lawyer: Get your own trusted lawyer to verify all documents.

• Minimal Advance: Pay a small token amount initially.