Buying Guide

How to choose a Property?
Any person who needs to book a flat with a builder in India is projected to keep in mind following few essential points before resolving to book a flat on ownership basis:-

- The reputation of the builder
- The number of projects handled by the builder
- The quality of the construction
- The financial standing of the builder
- Competence of the technical staff employed with the builder
- How were their past dealings with the customers?

- The flat purchaser should be shown the relevant documents regarding title of plot on which the building is proposed to be constructed.
- The title certificate should be from a reputed Solicitor / Advocate attached to the agreement.
- The builder should have annexed the description of land in detail in the form of schedule in the agreement.
- All information regarding the encumbrances should be brought out clearly
- The extract of property register card or other revenue record of the land/plot on which the flats are going to be constructed should be attached to the agreement for sale.

- The builder should have got the approval of plans / drawings from the Municipal Authorities / Local Authority.
- The builder should have shown to the flat purchaser the approved plans/drawings to the flat purchaser.
- The builder should show to the flat purchaser the copy of commencement certificate (C.C.) and Intimation of disapproval (I.O.D.). Area, number of flats etc…
- The serial number of flat, floor at which it is located, name of building/wing should be distinctly indicated in the body of agreement.
- The carpet area/built-up area of flat should be distinctly indicated in the body of agreement?
- The dimensioned floor plan marking the subject flat should be annexed to the agreement.
- The plan referred above should be duly signed by builder at the time of execution of the agreement. 

- The builder should annex with agreement a schedule of amenities/specifications (type of construction, flooring, doors, windows, sanitary and water supply, electrical fittings).
- The sale agreement in accordance with the conditions laid down by the Urban Land (Ceilings & Regulations) Authorities.
- Nature, extent and description of common areas and facilities etc…
- The agreement for sale should describe distinctly the common areas and facilities (such as entrance hall, foyer of building, compound wall etc.) and limited common areas and facilities (landing in front of staircase etc.), percentage/interest of flat purchaser in common areas and limited common areas/facilities.

- The date by which possession of the flat is to be given specified in the agreement for sale.
- Provision in the agreement for refund of the amounts due by the builder along with simple interest @ 9% per annum from the date of receipt by builder till the date of refund in the event of failure of the builder to give possession of the flat by stipulated date or mutually agreed extended date. 

The mode of payment of installments should be distinctly mentioned in the agreement for sale.

The builder should mention in the agreement the amounts payable by flat purchaser on taking possession in respect of legal charges, share money, application entrance fee of society, and charges for formation and registration of the society and proportionate share of taxes and other charges.

- The flat purchaser should be aware about the quantum of stamp duty payable by him at the time of execution of agreement.
- The flat purchaser should be aware that the registration of agreement in respect of flat purchased from the builder is compulsory.
- The flat purchaser should be aware of the amount of registration charges payable by him.
- The flat purchaser should be aware of the fact that the time limit for registering agreement for sale is 4 months from the date of its execution.

- Filing of form no. 37-I under chapter XX-C of Income Tax is to be filed in respect of transaction of subject flat?
- If answer to i) above is in affirmative, is the flat purchaser informed about the procedure for filing form no. 37-I?
- Is the flat purchaser aware of the implications of filing form no. 37-I? 

Our Ongoing Projects

Guruniwas Residency
Guru Niwas Residency

> 3BHK Premium Flats
> Ashwini Nagar, Nashik

Suman Apartments
Suman Apartments

> 1BHK & 2BHK Premium Flats
> Pathardi Phata, Nashik

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Shop no. 1 & 2, Vijayprabha Apartment, Saubhagya Nagar, Lam Road, Nashik Road, Nashik - 422101.

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