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How to buy a Development Authority flat?


How to buy a Development Authority flat?

Last updated: April 19 2014
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  • How to buy a Development Authority flat?

    Respected Seniors,

    Since last many months I want to buy a house for myself. The problem is - this is my first time and I'm on my own. Neither my parents.. Nor relative (some personal issues; nothing negative; but please don't jump into these things) are there to help me.

    Now, after a lot of search..
    Though I was more interested in buying land, I've decided to buy Development Authority flat (NOIDA).

    I've seen sample flats... but evertime.. When it comes to client meeting.. I step back due to some unknown fear. I don't know anything about paperwork, procedure etc (even my bike/car registration were through agents; even DL). Sometimes I feel very helpless.

    Fear factors / Confusions:
    1. What's the procedure from beginning (client meeting) till end.
    2. How to avoid fraud?
    3. What are the possibilities of getting cheated while buying DA flats?
    4. How to be safe?

    Most importantly:
    5. When and how to give money? (tips and precautions)
    6. What are the paperwork involved (step by step please)?
    7. A major portion of money will be from bank loan. How to avoid complications (suppose if there's any delay, or if a bank denies after making delay and I need to apply in other bank; eligibility is not an issue.. Just due to paperwork complications)?
    8. Anything from your experience, that you'd like to add?

    Please help me. I want do it myself!
    I'd be very thankful.
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