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  • Rent | Sale | Resale
  • Rent | Sale | Resale
  • Rent | Sale | Resale

10 things to check before buying property

  • Approval & Licenses
  • The right plan
  • Check the source of finance
  • Size of the apartment
  • Calculate the local cost
  • Check the site
  • Buy v/s rent
  • Search report of plot

BENEFITS OF USING A REAL ESTATE CONSULTANCY

INFORMATION BOX

RERA ACT

The Real Estate (Regulation and Development) Act, 2016 (RERA) has finally given India's real estate sector its first regulator from Monday, May 1, 2016. The act was passed by parliament last year and the Union Ministry of Housing and Urban Poverty Alleviation had given time till May 1, 2017, to formulate and notify rules for the functioning of the regulator. RERA seeks to bring clarity and fair practices that would protect the interests of buyers and also impose penalties on errant builders. RERA seeks to address issues like delays, price, quality of construction, title and other changes. Website https://maharera.mahaonline.gov.in

WHAT IS 7/12 EXTRACT

The 7/12 document is an extract from the Land Register of any district in Maharashtra, which gives complete information about a particular piece of land. It contains important details such as the survey number, area, date from which the current owner's name was registered etc.

ACRE

Larger areas of land, approximately 43, 560 sq.ft. or 4,047 sq. m. makes one acre.

INDUSTRIAL PROPERTY

Any property that is used for manufacturing purposes is called an industrial property.

FSI

Floor Space Index is the ratio between the liveable area on all floors of the building to the actual area of that plot of land.

CC

>The certificate from the concerned authority allowing the builder for commencement of construction of the property (after ensuring that all set criteria have been met) is referred to as the certificate of commencement.

OC

The Occupancy Certificate is given after a survey which ensures certain civil laws and safety have been followed. e.g. Tall buildings should have provisions for fire fighting and access for a fire engine to enter the premises. Other facilities like sewage, water supply, electricity and rain water harvesting should be in place.

WCC

Building Completion Certificate is more of a technical in nature and it certifies that the building has been completed as per the sanctions and building rules of the location.

CARPET AREA

Carpet Area is the area where we can spread a carpet, means area calculated from inner wall to wall distance inside the house. This would also include steps if any, inside the house. So essentially, Carpet area is nothing but the net usable area inside the house.

BUILT UP AREA

Built up area is Carpet Area + Area of walls and ducts+1/2 the Area of terrace. terrace is considered as half the actual area for calculating built up area.

SUPER BUILT UP AREA

This is built up area + area occupied by common amenities like lifts, corridors, awnings, club house, stairs. This is also called as Salable Area.

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