When it comes to purchasing a flat, it is more than just picking a property that looks appealing. It’s a significant financial and emotional investment, one that will impact your lifestyle, security and future. Making an informed decision requires careful evaluation of several key factors. Whether you are a first-time buyer or looking for a new home, doing your homework beforehand can save you from potential headaches and ensure you are getting the best deal. Here are five crucial things you must check before booking a flat to make sure it meets your expectations and provides long-term value.
See also: Dos and don’ts for buying a house on the basis of a sample flat
Location and neighbourhood
One of the first things to consider when booking a flat is its location. The right location will impact not only your day-to-day living experience but also the future resale value of the property. Ensure the flat is situated in a convenient area close to essential services such as:
- Schools and colleges
- Hospitals
- Shopping centres and grocery stores
- Public transportation hubs
Additionally, research the neighbourhood to ensure it is safe and offers a good quality of life. Check whether the locality is prone to traffic congestion or noise and assess the proximity to your workplace or other important destinations.
Builder’s reputation and track record
Before booking a flat, it’s essential to investigate the builder’s reputation. This can give you insights into the quality of construction and the timeliness of project completion. You can:
- Research online reviews from previous buyers.
- Check for any legal disputes associated with the builder.
- Visit past projects completed by the builder to assess the quality and maintenance.
- Verify the builder’s registration and credibility through the Real Estate Regulatory Authority (RERA). A builder registered under RERA is more likely to adhere to timelines and quality commitments.
Legal clearances and documentation
The legal aspects of booking a flat are often complex but vital. Ensure that the property has all the required legal clearances to avoid future complications. Here’s what to check:
- Title deed: Ensure that the seller or builder has a clear title to the property and is legally entitled to sell it.
- Occupancy Certificate (OC): This document certifies that the flat is built as per the approved plans and local regulations. Without this, you may face issues getting water, electricity or sanitation connections.
- Building plan approval: Ensure the flat you are considering has a government-approved layout and building plan.
- No Objection Certificates (NOCs): NOCs from relevant authorities like the water department, electricity board and fire safety department are essential.
A clear understanding of the property’s legal standing will ensure you are making a secure investment.
Flat layout and amenities
Before making your final decision, thoroughly examine the layout of the flat. A well-designed flat should have an efficient layout, with well-utilised space and proper ventilation. Consider the following aspects:
- Flat size and floor plan: Compare the carpet area (usable area) and built-up area (total constructed area) to understand how much space you are getting.
- Room dimensions: Ensure the rooms are spacious enough to meet your family’s needs.
- Vastu compliance: If Vastu Shastra (an Indian architectural system) is important to you, check whether the flat adheres to these principles.
- Amenities: Modern flats come with a variety of amenities such as gyms, swimming pools and landscaped gardens. While these can be appealing, make sure they align with your lifestyle and are well-maintained.
Price and payment terms
Price plays a pivotal role in deciding whether to book a flat or not. Ensure you are getting value for your money by comparing the property’s price with other similar flats in the area. Consider the following:
- Price per square foot: This will give you a clear idea of how competitive the pricing is compared to other properties in the neighbourhood.
- Hidden costs: Watch out for additional charges like maintenance fees, parking charges, registration fees and GST. These can add significantly to the overall cost of the flat.
- Loan eligibility: If you are taking a home loan, check with your bank for pre-approved loan eligibility. Some developers also offer financing options or tie-ups with banks to make the process easier.
- Payment schedule: Understand the payment plan in detail. Some builders offer construction-linked payment plans, while others may require full payment upfront.
Booking a flat is a major financial decision that requires due diligence. By carefully evaluating the location, builder’s reputation, legal clearances, flat layout and pricing, you can ensure that you make an informed choice and secure a home that meets your needs. Taking the time to check these important factors will not only protect your investment but also give you peace of mind for the future.
FAQs
What legal documents should I check before booking a flat?
Before booking a flat, ensure you verify the title deed, occupancy certificate (OC), building plan approval and necessary No Objection Certificates (NOCs) from relevant authorities. These documents ensure the property is legally sound and safe for purchase.
How can I check the reputation of a builder?
To check a builder’s reputation, research online reviews, visit their completed projects, check for legal disputes and verify their registration with the Real Estate Regulatory Authority (RERA). A registered builder is more likely to deliver quality projects on time.
What additional costs should I be aware of when booking a flat?
In addition to the flat’s base price, be aware of hidden costs like registration fees, GST, maintenance charges, parking fees and other applicable charges that can significantly increase the total cost of your purchase.
Why is location important when booking a flat?
The location determines the convenience of your day-to-day life, access to essential services and future resale value. A good location should offer proximity to schools, hospitals, public transportation and shopping centres while being in a safe and peaceful neighbourhood.
| Got any questions or point of view on our article? We would love to hear from you. Write to our Editor-in-Chief Jhumur Ghosh at jhumur.ghosh1@housing.com |