Buyer's Guide * FAQs
Buying a home is one of the biggest financial and lifestyle decisions you will make. A little homework helps buying your dream home turn into a reality. The Q&A's below will help you make an informed decision.
1) Where do I start with?
Being clear about your requirements is very important. Match these to the specifications of the project at hand. There is a lot more to consider besides the specifications of the home itself.
2) How should I go about buying a home?
While buying a home, always do a background check on the builders you deal with
Know the builder: An established company with a history of sound construction and above-board policies would be the right place to start.
Home Delivery: Consider the time taken for completion of the company's projects. If there are delays, look for a trend to these delays.
Legal Concerns: Find out if there are litigations in any court in India against the company and if there are any criminal cases against any
of the directors of the company.
After authenticating the reputation of the builder, it is time to look through the specifics of the project of your choice.
3) Are there additional costs for some features?
Most quality projects come with a built-in set of amenities like swimming pool, gym and common recreation areas. There may be other amenities that can be added at a cost. Look for features that are taken for granted, like pre-connected telephone, TV and Internet cables, security systems, interior design etc.
4) So, should I be aware of some terminology?
Familiarise yourself with the actual measurements of the project
Carpet Area: This is the area of the apartment/building which does not include the area of the walls.
Built up Area: This includes the area of the walls
Super Built up Area: This includes the built up area along with the area under common spaces such as the lobby, lifts, stairs, etc.
This term is therefore only applicable in the case of multi-dwelling units.
Understand the ratio between carpet and the built-up area. Balconies are usually included as part of the carpet area.
Analyse the plans to understand how much of the carpet area is being taken up by spaces that are unroofed.
Also, understand the common areas that are shared between apartments and regulations regarding their use.
5) Should I be worried about any legal issues?
While purchasing a property, you have to look at the approved layout plan, approved building plan, ownership documents, carryout search, etc. It is advisable to contact an advocate before you purchase a property so that he can advise you.