Dear friends,
I plan to buy a 3BHK flat in sector 50, Noida. How can I check the authencity of the documents the seller provides??
What's the best way to proceed to make sure the deal is clean? Two or three brokers I have spoken to have given me different versions, and quoted different circle rates. They also said I would have to register the parking spot and pay three lakhs for that. I'm confused!!!

I would appreciate any advice.
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  • Hi,
    Although I'm not an expert but here are a few things to lookout for:
    1. If it's a new property and has not been registered yet, you need to verify the original allotment letter from builder. You might also want to inspect land allotment certificates, environment clearances from builders end if possession hasn't been granted yet. I think Mahagun Maple is an example where environment clearance hasn't been granted yet. Please confirm this fact if you have an option there.

    2. If the property has already been registered, please verify the relevant documents issued by Noida Authority to check the genuineness of the buyer.

    3. If there is a loan against the property under question, insist on taking a look at the original documents kept with bank. A genuine seller would either pay off the loan before selling and obtain the documents or at least accompany you to bank for verification of documents.

    4. As far as I know, updated circle rate in sector 50 is Rs. 45,000 per sqm., add 25% to this if there is swimming pool/gym/club house in the society, which translates to Rs. 56,250 per sqm. Please be aware that some older societies introduced pool etc. later on and wasn't present in the original master layout and never got registered in NA. The applicable rate in such societies should be 45,000.

    5. At least I'm not aware of any registration amount to be paid for parking. Most of the flats have at least 1 parking inclusive in the quoted amount, some might even have 2. And I don't believe NA would charge anything extra for this.

    6. Some people in sector 50 are quoting quite high rates for their flats as if they have been constructed using platinum and gold, I've see quotes upto Rs. 8500-9000 psf for quite shitty flats, just ignore them. I know this since I'm in the same boat as you and am looking for similar options in this sector. Try sector 61 as well, there are a few options.
  • Thanks for your insight, sarora1979.

    I'm interested in ATS Greens II and Kailash Dham. But the rates are about Rs. 1.5 crores and 1.3 crores, respectively.

    Isn't there a system of discount if the flat you want to buy is higher than the 3rd floor in the building concerned?

    Is there any positive side to buying in any of the two societies? I would like to know what you think.