Sort by :
Filter by :
- Originally Posted by bernieHow can I check if a builder is legal or illegal? I am planning to purchase a flat at Mira Road, need to know the detailed documentation that I should check to be sure?
i would recommend that you consult a lawyer as the question "is the builder legal or illegal" tells me that you dont have the knowledge or expierience to validate the documents. no offence meant.CommentQuote0Flag
- tell the builders to provide you the following information:
1. The legal documents of the land ownership and the chain of successive ownerships >> hire a lawyer to do the property 'search' in the local govt land records.
2. Ask the local police station about any cases pending on the builder or the property owners or any criminal activity
3. Ask the builder about the construction clearance papers and the approved building plan >> get it verified at the local govt body
4. Ask the builders about who their bankers are and the name of their account rep/loan officer at the bank branch. Go speak to them inside the bank premises to know the financial status of the builder and the status of the project.
Hope that helps....CommentQuote0Flag
- Originally Posted by shubhThe best way is to inquire in to his previous projects for essential service maintenance and quality of the construction etc. residing members will give you right feed back, don’t buy the flat from the lesser known new builder.
But i see problems only with the well known builders like DLF unitech,hirco,
parsvanath,jains,etc. i say buy with a smaller size builder who does not have the power to armtwist you.CommentQuote0Flag
- Originally Posted by abkBut i see problems only with the well known builders like DLF unitech,hirco,
parsvanath,jains,etc. i say buy with a smaller size builder who does not have the power to armtwist you.
Infact the best is to buy from a well qualified small builder. Being small he will be arm twisted and being educated he will be sane. Also in future he will grow big and ur property will be more valuable.CommentQuote0Flag
- Search and title report
Now a days if u take a loan,
the bank insist on two things:-
title search report
Rest assured bank is not going to provide u loan, unless the property papers r clear. They dont want rising NPA.
On ur own u chk the title papers of land + approved development plans + environmental clearances for BIG projects.
During the BOOM phase, the projects were booked and construction started without even the required approvals, since these approvals would take long time. It was not fully legal.
However, this trend is stopping. Typically, builder used to take clearance for few floors then, add up more later depending on response and funding positions etc.CommentQuote0Flag