5 Questions to ask a Builder when Buying your Dream HomeApril 14, 2019
An overwhelming task and one which requires immense amount of investment, buying a property is a complex process along with strenuous efforts. It is always better to check each and every matter to the process before taking a final decision. By asking the right questions and conducting a thorough check, it is possible to zero-down on your dream home hassle-free and with ease.
Following are the 5 questions for you to ask a builder when buying a new home:
Why this project?
Firstly, think over the factors that made you shortlist the builder from many. Your builder should be able to convince you about the project fulfilling all your needs and desires and that it’s within your budget. Why should you choose them over others – is it their quality of homes, service, facility, amenities or is it all of these that makes them stand out from the others?
What are you paying for?
As per RERA, there is a defined area only for which you should pay, be it super-built-up area/ built-up area or carpet area. Ask your builder about details regarding carpet area to ensure that you pay only for the right amount. Have a clear picture about its rate, area, features, specifications, location details and amenities to understand the value for money post purchase.
What are the legal documents to be checked?
The first step is to ask the builder for Intimation of Disapproval (IOD) and Commencement Certificate (CC) to know if the property is legally hassle-free. If it is an under construction property, ask for approval of drawings and project plan to ensure that the land is free from any disputes. Also, check for documents linked to RERA registration number, title deed, home loan clearance documents, etc.
When would you receive Occupancy Certificate (OC)?
Considered to be of pivotal importance, Occupancy Certificate is a certificate given to the owner or tenant mentioning the building is ready-to-occupy. A property that does not have its own OC is prone to issues pertaining to bank loans.
When would you get the possession?
If you are planning to claim that tax exemption amount of Rs. 2 lakh on the home loan interest rate then it’s necessary to get possession of the property in 3 years. The builder must communicate a fixed or tentative date by when the project would be completed and handed over to you. Also, ask them about providing completion certificate issued by Municipal authorities of the locality which is required while following government procedures of registering the property.
Owning a home of your dreams is made possible at Ladder Kerala, one of the top builders in Calicut and Kerala for residential projects, comply with all legal procedures and offer homes that are crafted exclusively to make home buying decision effortless and moreover, to give you a supreme living experience unlike any others.
For details on the projects – https://ladderkerala.com/projects/