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What Documents to check if going for Pre-launch or Underconstruction properties

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What Documents to check if going for Pre-launch or Underconstruction properties

Last updated: November 16 2012
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  • What Documents to check if going for Pre-launch or Underconstruction properties

    I have been hearing about many Launches of New Projects in pipeline (may be 10) in Faridabad in next year. So wanted an opinion on what Documents list should a Buyer check for in these Pre- launches or even Underconstruction property.

    It is very important thing to know for New bees like me in Real estate so that we don't have to regret later.

    I request every one to participate Constructively and Positively
  • #2

    #2

    Re : What Documents to check if going for Pre-launch or Underconstruction properties

    Also can we keep a record of Projects which were launched, their layout plans at begining,area, facilities offered,tentative date of possession and prices at which they were launched.

    I know BlessU is maintaining a spreadsheet of many of the above data but may be we can keep a record of people's view at the launch and many other things which will provide us important information and benefit all those who are new to NP area but want a focussed thread to easily scan through everything

    Comment

    • #3

      #3

      Re : What Documents to check if going for Pre-launch or Underconstruction properties

      Mike,BlessU,Djvjain,Pgarg,Lalit, Rohit and all the veterans and novices, awaiting your responses

      Comment

      • #4

        #4

        Re : What Documents to check if going for Pre-launch or Underconstruction properties

        Hi
        Greetings

        The following thread may be useful for your purpose

        https://www.indianrealestateforum.co...and-ec?t=42994

        Cheers

        Comment

        • #5

          #5

          Re : What Documents to check if going for Pre-launch or Underconstruction properties

          Originally posted by BlessU View Post
          Hi
          Hi
          Greetings

          Check this link with actual content and format of approvals received/required from various govt agencies. All formats are standard irrespective of the builder/location. I am a fan of Rahejas as they are very transparent in this matter and has helped my own understanding on this subject.

          Raheja Revanta Approvals
          -License (receiving money, promoting is illegal w/o this)
          -Building Plan (any change to building plan needs regularisation by paying commutation charges as per Composition Policy)
          -Height Clearance (if over 15 mtrs)

          It may be an interesting read, to clarify on
          -undertakings given by builders for obtaining licenses
          -parking is part of common area and cannot be sold separately
          -common areas cannot be sold to third parties Order FC & PSGov of Har cum Appellate Authority DTCP
          -any land coming in sector roads has to be given free of cost to govt.

          Once the three clearances as shown in previous link are obtained, EC is applied and submitted with DTCP as per licensing conditions. Without Environmental Impact Assessment No Objection Certificate or "EC", construction cannot begin. Hence delayed construction for Revanta and all other projects without EC. Check with your builder for EC to clarify or file RTI (How To File RTI) with MoEF/State Pollution Board, to know the status.

          To help understand better check the approvals and construction, which is progressing fine, for another project of the same builder BUT with EC

          Check approval Raheja Vedanta Approvals
          Check Construction status Raheja Vedanta Construction Status

          After construction, builder has to apply for OC (Sample Occupation Certificate), which can be in part or full, once all outstandings pertaining to EDC/IDC/Service Tax/Labour Cess and undertakings given while obtaining EC are fulfilled. Besides clearance from Fire fighting clearance from local authorities/MCG, structural fitness certificate, implementation of water harvesting and solar lighting are required to be confirmed.

          Another aspect is renewal of the above approvals eg: List of licenses till Aug 12 on DTCP website states the status of License as not valid or not renewed. RTI reverts reveal that builders application for renewal are normally rejected due to non payment of outstanding EDC/IDC.

          Once OC is received and physical possession handed over to buyers, the builder is obliged to apply for completion certificate after handing over the development with common areas to the RWA.

          Unfortunately not a single developer has done so, ever since the enactment of the Haryana Regulation and Development of Urban Areas Act 1975 which clearly provides for the same to be adhered to by private colonisers.

          Private participation is allowed in housing, by the honble governors office to help the elected state govt., achieve its responsibility of universal housing enshrined under section 21 of constitution (Right of Life). Unfortunately, it is being exploited for business gains,
          -using 1000s of crores of edc collected on behalf of govt for own expansion, --sale of common area to third parties,
          -Non compliance of building plans and constructing additional units,
          -Ews being sold in the black market,
          -Non provision of common facilities,
          -profiteering by claiming higher penal interest on unpaid edc than what is payable to govt,
          -Charging for parking despite Honble Supreme Court Orders regarding Parking and Parking (Covered/open) as part of Common Areas as per Act
          -Charging service tax on Development charges paid to govt against MoF orders regarding Exemption of Service Tax on Development Charges paid to Govt pg 11 para 8 and Legal Opinion for treatement of EDC/IDC wrt Service Tax
          -Charging of stamp duty on items not included as per department of Revenue and Disaster management
          -Non provision of Rain water harvesting/solar energy
          -Not obtaining OC despite completion, to make money from transfer charges (frustrate the enduser forcing him to exit by delaying, circulate data with brokers to generate transfers)
          -Unethical increase in Super Area without increasing Carpet area
          -OC getting stuck due to non confirmities of building plan
          -Delay in final approval from department due to non deposition/under payment of service tax, Labour Cess collected from buyers
          -Use of ground water despite legal undertaking for not doing so
          -Non renewal of licenses while continuously demanding payments from buyers
          -Creating secondary lien on properties to get finances buy more land, delaying the final possession while 90%+ money has been obtained
          -Doubly charging for expenses already included in IDC and BSP (Electrical Sub station/STP/Terrace Charges etc)
          -
          All this and more with obvious collusion of politicians and administration. Other experienced members may ad any approvals missed, impact on builders, buyers etc...

          Cheers
          (In BLUE above are links to relevant original documents- permissions required)

          Cheers

          Copied and pasted ur post from Gurgaon over here for others' convenience

          Comment

          • #6

            #6

            Re : What Documents to check if going for Pre-launch or Underconstruction properties

            Going through your post, it clearly says that its ILLEGAL TO PROMOTE ANY PROJECT WITHOUT HAVING LOI .

            Is that correct ??

            Comment

            • #7

              #7

              Re : What Documents to check if going for Pre-launch or Underconstruction properties

              Originally posted by prabhjeetran View Post
              Going through your post, it clearly says that its ILLEGAL TO PROMOTE ANY PROJECT WITHOUT HAVING LOI .

              Is that correct ??
              Hi
              Greetings

              Absolutely illegal.. send registered/speed post or fax to dtcp with details of offer, name of concern in whose favour cheques are being taken..

              check govt notification regarding the same on dtcp website clearly mentioning that you have to ensure your own self about license being obtained by the builder..

              This is very important as it poses serious risk to buyers investments. All risks have been shared in detail in the pre mentioned thread.

              Cheers

              Comment

              • #8

                #8

                Re : What Documents to check if going for Pre-launch or Underconstruction properties

                Originally posted by BlessU View Post
                Hi
                Greetings

                Absolutely illegal.. send registered/speed post or fax to dtcp with details of offer, name of concern in whose favour cheques are being taken..

                check govt notification regarding the same on dtcp website clearly mentioning that you have to ensure your own self about license being obtained by the builder..

                This is very important as it poses serious risk to buyers investments. All risks have been shared in detail in the pre mentioned thread.

                Cheers
                Sorry to bother you again on this , but is it possible for Builder to collect money for a Project and never launch it.
                What action can be taken by DTCP against Builder taking money in Pre Launch

                And lastly , what does the term LAUNCH actually mean in Layman terms

                Comment

                • #9

                  #9

                  Re : What Documents to check if going for Pre-launch or Underconstruction properties

                  Originally posted by prabhjeetran View Post
                  Sorry to bother you again on this , but is it possible for Builder to collect money for a Project and never launch it.
                  What action can be taken by DTCP against Builder taking money in Pre Launch

                  And lastly , what does the term LAUNCH actually mean in Layman terms
                  Hi
                  Greetings

                  Loi has not legal standii in terms of asking for public money. It is only after license is granted that a builder can make a public offer... for license builder proves that he has the legal right to develop the land into a gh/colony/comz/sez etc. He has to submit all building plans, all floor plans, all site maps, proof of ownership, inspection report, bank guarantees etc. to get license.

                  The approval of building plan includes every detail of the development

                  Without License a builder cannot LAUNCH!!! All other interpretations are wrong and deceiving.

                  Cheers
                  Last edited November 16 2012, 09:27 PM.

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                  • #10

                    #10

                    Re : What Documents to check if going for Pre-launch or Underconstruction properties

                    ^ Care to answer the other 2 queries as well

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