Tips to Choose a Reliable Real Estate Property Developer

The concept of buying a real estate property has gone through several changes. Instead of buying independent homes, people are preferring apartments that are located within gated communities.
Home buyers often get confused while selecting a suitable and reliable property developer. Since buying a house is a lifetime investment, a buyer cannot take any chances.

The best way to assess the reputation of a real estate property developer is to check their official website and do some research. An online search will give you access to various forums from where you can get feedback from multiple respondents.

The websites will tell you about the developers, their partners and their associates. It will also help you for how long the company has been into existence, what are their completed and ongoing projects and so on.

Check the authenticity of the builders – It is compulsory that all builders belong to a respected builders association. The aim of such organization is to make sure that a healthy relationship is kept up between the builders and client, which the projects are finished without bringing on any invade of expense or time. These organizations lay out ethical code of conduct the real estate players should abide by.

It helps to have a personal meeting with the real estate company to ask questions to get answers to your queries. In this meeting, details of their project, track record, process of construction, method of payment should be questioned. Make sure you raise all the concerns until the doubts are fully cleared.

Some of the finest new projects are being constructed in the outskirts of Mumbai. For instance, you can find 2 and 3 BHK residential apartments in Airoli with stylish interiors and modern amenities. These apartments have vitrified tiled flooring, laminated doors and high quality fittings.

Documents Needed To Buy A Residential Property In Mumbai

Buying a residential property in Mumbai requires you to plan and then execute. You need to be focused on what are things you will need to buy a home. Also, if you are taking a home loan for your dream house, then you will need to submit some documents to the developer as well as the bank or the institute which is granting a loan.

The basic documents required while buying a home or applying a home loan for your residential property purchase are as follows:

1) Sale deed, Title deed and Mother deed

2) General Power of attorney

3) Documents related to the building plan sanctioned by the officials

4) NOC (No Objection Certificate) from the Electricity Department

5) Allotment Letter from the developer or builder of the co-operative housing society

6) Sales and construction agreement between the builder and 1st owner

7) A copy of possession letter from the developer

8) All the payment receipts paid towards the builder

9) If the property was on loan, ask the seller to submit the loan documents

10) The deed should mention that the dues will be cleared the seller

11) Copy of possession and payment receipts should be taken from the seller

12) The authentic sales agreement by the seller

13) Latest Paid Tax receipts of municipal tax, property tax and other tax

14) NOC from the society or building association

15) A No Due Certificate from the building committee

16) Completion (if the building is underdeveloped) and occupancy certificate

17) Deed of declaration

18) Latest electricity bill

Mentioned above is the list of documents that you should present or acquire while purchasing a residential property in Mumbai. For ex. If you are planning to buy 3 BHK flat in Andheri East, you need to follow above tips regarding documentation. Besides, you also need to do study on other factors like property rates, location, facilities, etc.