It is a normal procedure for a home buyer in metro cities to consult an advocate for legal verification before buying any property or heading with a sale agreement, and for scrutinizing the property documents, construction approvals & other documents.
Home buyers gain primary confidence to buy a flat/villa/plot in metro cities with the following factors:
- The reputation of the builder profile & his track record.
- Home loan approval from Nationalised Banks particularly SBI.
- Construction approval from Municipal Authority or a CC (Commencement Certificate) for an ongoing project.
- Occupancy Certificate (OC) for the ready projects.
- Most importantly whether the project is registered under RERA Authority.
There have been many cases when the advocate has given a green signal to go ahead with the project to the home buyer, but the project went into litigation & sometimes even without the control of the builder. The homebuyer falls in a severe dilemma about his next course of action in this regard.
Hence before going for a sale deed even with RERA provisions, it is necessary for legal verification with the following strategies:
- To consult highly skilled & experienced advocate who has updated current laws with respect to the real estate & construction sector, like the recent NGT judgment on buffer zone which shocked the real estate sector & the Karnataka Government.
- He should have handled various property litigation cases in his legal practice.
- He should be having positive testimonials with the clients that he has served.
- Most importantly he should be in a position to go for a physical verification of the project site.
Courtesy/By: Rakesh G.
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23 Jan 2018
