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1)    Ask if builder has Title clear papers for property on which flats are built. Easy way is to ask for IOD (Intimation Of Disapproval) and CC (Commencement Certificate) which makes it clear that the property you are purchasing is built on undisputed land and is BMC approved.

2)    Ask if he is ready to give Completion Certificate which is required during registration and stamp duty process and also during resale in some cases. This Certificate if and important proof of BMC clearance on building permissions.

3)    Adding to above point, check if the property has OC (Occupancy Certificate) with builder, If not what are the reasons. Common reasons being the FSI of that property used in some other constructions. Property without OC faces bank loan problem for common man.

4)    Ask if any well known banks are tied up with builder, If banks and financial institutes like HDFC, ICICI BANK, GIC etc are already tied up with builder it is a good sign of saving yourself from non well known and fraud builders.

5)    Always take the first step by asking for sample flat and building plan, This will give you the look and feel of flat and the amenities and quality of tiles and other items used in kitchen and bathroom etc. Also ask and see the floor plan that gives the idea about surrounding and spacing. 

6)    Ask for, if any additional charges above the charges they show to you like any legal fees, parking fees etc which sometimes is not said in first meetings.

7)    Ask when is the project getting completed and which month is the handover of property ? How will they Charge till then because this will attract PRE-EMI (A kind of interest charged for part payment of the loan borrowed from bank) this is an extra charge and not same as EMI. Get dates in written and terms if builder not able to give on time.

8)    Ask the builder about the Carpet area and Total super built up area and what will be written in Agreement. Also check the height and directions of the flat.

9)    Ask what all utilities and facilities are in built provided upon sale like Fans, Furniture in kitchen, Home UPS/Inverter etc.

10)At many far suburb locations of Mumbai like Nalasopara & Virar, some / many properties don’t have OC and instead get something called ‘Collector Passing’ certificate. This kind of properties are not entertained by leading banks, yet some small co-operative banks do sanction loans. Still, its a risky real estate deal.

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