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Economist · 21-08-09

House hunter,

Assuming the plot is:

Approved.
On 30 or 40 ft road and in a good layout.
With in 200meters pro to an 80 ft road or with in 1Kms to OMR or Link road.
Sewage and electricity service available nearby.
No adverse defects such as located on lake bed or water course.

I would pay 40 lakhs give or take 2 lakhs (5%)

In relation to double documentation and fraud, It can happen anywhere.

I would:

see the owner at his house and get to know him casually (Ie: where he works and family background etc)
Strict scrutiny of documents (as per lawyers advice)
Prior to executing agreement I would request the vendor to bring D/L,ration Card and Voters ID.

Normally when you speak to the vendor about his background you would get a better picture (Ie: the guy working for a bank etc) Have more visits to vendors home or work (make good reasons)

After all this you would get a gut feeling to proceed or not.

21-08-09	#7
Economist Member Join Date: Dec 2008 Posts: 289 Thanks: 0 Thanked 2 Times in 2 Posts	House hunter, Assuming the plot is: Approved. On 30 or 40 ft road and in a good layout. With in 200meters pro to an 80 ft road or with in 1Kms to OMR or Link road. Sewage and electricity service available nearby. No adverse defects such as located on lake bed or water course. I would pay 40 lakhs give or take 2 lakhs (5%) In relation to double documentation and fraud, It can happen anywhere. I would: see the owner at his house and get to know him casually (Ie: where he works and family background etc) Strict scrutiny of documents (as per lawyers advice) Prior to executing agreement I would request the vendor to bring D/L,ration Card and Voters ID. Normally when you speak to the vendor about his background you would get a better picture (Ie: the guy working for a bank etc) Have more visits to vendors home or work (make good reasons) After all this you would get a gut feeling to proceed or not.