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Before you buy a plot/flat check these....

Discussion in 'Home Decoration & Improvement' started by Shanvy, Nov 6, 2007.

  1. Shanvy

    Shanvy IL Hall of Fame

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    hi all,

    Though these have been released by Chennai metropolitan Development authority (CMDA)..most of it are general for all over india.....


    Before buying a plot :

    • Check whether the details of approved plan have been displayed at the site.
    • Check whether the promoter/power of attorney has the right to transfer the undivided share of land.
    • Verify whether the entire undivided shares of land have been transferred by the land owner/promoter/
     power of attorney to you.
    • Check whether the completion certificate issued by the CMDA has been obtained after the completion
      of the building.
    • If you want further clarification regarding purchase of flat/plot, kindly contact the counselling counter




    Before buying a flat :
    • Check whether the details of approved plan have been displayed at the site.
    • Check whether the promoter/power of attorney has the right to transfer the undivided share of land.
    • Verify whether the entire undivided shares of land have been transferred by the land owner/promoter/power of attorney to you.
    • Check whether the completion certificate issued by the CMDA has been obtained after the completion of the building.
    • If you want further clarification regarding purchase of flat/plot, kindly contact the counselling counter at the CMDA.
     
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  2. shravanthika

    shravanthika Senior IL'ite

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    Thanx a lot Shanvy...

    This is really a gr8 information especially for NRIs who tend to finish up everything during their short vist...
     
  3. Shanvy

    Shanvy IL Hall of Fame

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    hi shravanthika,

    Welcome...
     
  4. mrbharathi

    mrbharathi New IL'ite

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    Hello Shanvi
    I am planning to buy a flat...the approved plan that the builder has, shows a single bedroom plan, however, the actual construction has double bedroom...

    from a legal stand point will there be any issues...please advise...

    Bharathi
     
  5. tanoshii

    tanoshii Platinum IL'ite

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    [JUSTIFY]Lovely topic at the perfect time ladies..

    We are buying a flat now and since its just me and my husband taking care of every detail, we feel quite nervous that things should go well.
    Thanks for the informative list Shanvy. We'll keep these in mind..

    Bharathi,

    Usually internal changes can be done in a house at any time from what I heard. But violations include discrepancy in plans. Especially in the area of the house and balconies that pop out of nowhere. Sometimes even extra floors. Everything needs an approval from the local authorities. So make sure there are papers for the additions or deletions. If not the initial approval, they apply for a second time maybe after 50% of the completion. So these have to be on paper sometime or the other before your purchase.

    We are at the finalizing stage with our purchase and as directed by my father who is a banker himself, I met a local bank manager and discussed with him about all this stuff. FYI SBI has the best rates now, they've even waived the processing fee fully till the end of September.

    Bank managers can guide you with giving information about Advocates who will go through your property papers (for a fee) and will let you know if the papers are in order. There may be violations, but they will check if they are within limits.

    To get the papers for the property, as always, you pay the builder a small token advance (best is by a Post dated check) and retain the document for a period of 3 or 4 days in which time you can check with your advocate. If there are major flaws, you can always cancel the verbal agreement and get back your check and return the documents.

    If the papers are clear, you can sign a Sale agreement with the builder and go ahead with the loan application too.

    While looking for a place to purchase, check for small things yourself as to the number of floors that have been approved by the local authority. Many times the builders make adjustments and then go for approvals..sometimes the extra under-the-table dealings do the trick, but that might affect your loan applications.

    Check for the area that has been approved for the house and the actual area given to you. Also measure the carpet area of the house and make sure its at least 70% of the super built up area.

    Super built up area is the total area of the house as mentioned by the builder. Carpet area is the living area of the house excluding walls. Just the exact sizes of the rooms and balconies. Also make sure the balconies are not too big and no common space beyond allowable limits is added. That cud cause your actual living area to come down to too little.

    Check from neighbours or adjacent building owners about the rates for the locality and bargain well!! Its time we exploit some of these builders...

    These are the points mentioned to us so far and if there are any more, will keep them posted. Now is really a good time to buy properties. Its also essential to pick the best cos builders are desperate to get rid of unsold units.
    [/JUSTIFY]
     
  6. Gopipriya

    Gopipriya New IL'ite

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    Hi

    In one of the EC we have seen a CMDA notification being registered against the property. What does it contain. Can anyone provide details about it
     
    Last edited: Apr 6, 2010
  7. skchivukula

    skchivukula Bronze IL'ite

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    Thank you Shanvy for such a useful info on plot / flat purchasing.
     
    Last edited: Apr 6, 2010
  8. skchivukula

    skchivukula Bronze IL'ite

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  9. april1981

    april1981 Gold IL'ite

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    very useful information
     
  10. vennelaaaa

    vennelaaaa Bronze IL'ite

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    nice post shanvy...
    very informative!
     

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