Some Important Things to Note before Buying a Flat


When you buy a new apartment or flat, you are placing a share in the company in the floor for a long-held dream. This is the result of years of saving and careful planning. As a result, you will be better off if you consider all possible points before taking the next step and purchasing your dream apartment. The following are the most important considerations:

  • The cost of the property: Before you choose a flat or apartment, you must first establish a budget. Shortlisting an apartment becomes easier if you know how much you are willing to spend on it ahead of time. To determine whether the builder has provided you with a genuine quotation, compare the price of the apartment with neighboring ones by different builders. There are several ways to obtain comparative prices for adjacent properties, including newspaper listings, portal listings, and other brokers in the area.
  • Land records: It is critical to understand what type of land your apartment is built on. Spend some time researching the soil’s quality as well as the land’s topography. The plot must be registered and free of all outstanding debts. Check and verify the title deed before purchasing the apartment. The title deed will contain all information about the property’s ownership, rights, and obligations.
  • Legal check: Before you buy the apartment, make sure that it is legally permitted to be built on the plot where it currently stands. The builder must have all NOCs and approvals from the local development authorities. Check for NOCs from the sewage board, the water supply department, the electricity board, and the Municipal Corporation as well. If you take out a loan for the apartment, the bank will be responsible for validating your property documents, and you can rely on them to do a good job of verification.
  • Possession of the flat or apartment: In rare cases, possession of the flat or apartment may be delayed due to a delay in residential and commercial plans. As a buyer, you have the right to a clear understanding and estimate of the timeline for possession of your affordable housing in Gurgaon. The developer may request a 6-month wait period and should have a legitimate reason for the delay.
  • Bank financing: Some banks will be willing/unwilling to finance some builders. Banks avoid some builders because their reputations are less than standout. As a result, it is critical that you check with the bank ahead of time about your prized possession.
  • The agreement between the builder and the buyer: You can reserve an apartment of your choice by paying a nominal fee in exchange for an allotment letter. Following that, a tripartite agreement is drafted between the builder, bank, and buyer for the remainder of the apartment value money. Before purchasing MRG WorldThe Skyline Gurgaon sector 106, you should read and comprehend this agreement.
  • The location of the flat: When you choose The Skyline Gurgaon sector 106, you are paying for prime real estate. The physical infrastructure, apartment amenities, and proximity to important places make it an excellent investment for you.
  • Additional and hidden charges: Examine the various clauses of the documents provided to you so that charges and penalties are fully understood. Keep in mind any additional costs such as stamp duty, GST, the home loan processing fee, and apartment registration fees.

Related Articles