Checklist When Buying Your New Home

<strong>Mohit Gupta, Sr. Executive Vice President, Sales, Piramal Realty shares his advice on the aspects to be thoroughly inspected before buying a new home</strong> The sense of security that comes with owning a house cannot be matched by anything else. The feeling a buyer gets when he takes po

BY Realty Plus
Published - Oct 27, 2021 6:19 PM

Mohit Gupta, Sr. Executive Vice President, Sales, Piramal Realty shares his advice on the aspects to be thoroughly inspected before buying a new home The sense of security that comes with owning a house cannot be matched by anything else. The feeling a buyer gets when he takes possession of his dream home is something unfathomable. However, it is not uncommon for unscrupulous developers to try to trick potential buyers by saying they will offer an array of amenities, features, or similar upon the start of construction. The developer may not have kept several promises once the property is handed over to the purchaser. Among the problems could be the property being built illegally, poor construction quality, or inadequate amenities. To avoid this scenario, buyers need to thoroughly inspect the property, review all documents, and conduct extensive research on the developer, municipality, and neighborhood in which they will take possession. Under MahaRERA, the rights of the buyer are now protected, but it is imperative to do due diligence before taking ownership of a property. Here are some of the things you should check before accepting possession of a new home to make sure everything is in order, according to the plan you received when you purchased it:

• Amenities: The plethora of amenities offered by developers today will appeal to potential homebuyers and contribute to their decision to purchase. To name a few, these amenities include a playground, swimming pool, gym, jogging track, spa, yoga studio, and meditation center. It is important to ensure that all the promised amenities are offered in accordance with the agreement.
• Parking Allotment: It is imperative that there is a designated parking space allocated when purchasing an apartment. Make sure that the space offered is big enough to accommodate cars of any type, from hatchbacks to SUVs, and that it is easy to access from the given location. In the long run, parking spaces without allotments can create disputes and problems.
• Documentation: You do not technically own the house until all of the necessary documents have been signed. Verifying each document to ensure it is properly signed and stamped is therefore necessary. A copy of the completion certificate, an allotment and possession letter, and a no objection letter are crucial documents.
• Environment-friendly components: Today, buyers are becoming more resource-efficient and are concerned about living a sustainable lifestyle. Home buyers should verify that eco-friendly features such as the treatment plant, organic waste converter, rainwater harvesting, solar panels, and ventilated basements specified by the developer are actually included in the building.
• Society apex body creation: Make sure the society has an apex body to ensure smooth functioning. Responsibility must be distributed amongst society members with a fair amount of accountability. A detailed description of the monthly and annual charges imposed society is provided when purchasing an apartment. This will allow any problem within the society to be reviewed and resolved immediately.
• Essential connections: Before taking possession of a new apartment, you should check that all essential connections such as water, gas and mobile network are in place in the house, leading to a comfortable experience for you and your family.
• Damage Check: It is the responsibility of the potential homebuyer to do a damage check before taking possession of their house. Examine all the walls closely for cracks, damp patches, leakages, peeling paint, chipping that must be brought to the developer’s notice. Also, check the doors, locks, electrical switches, drainage systems, ensuring that they are functioning appositely.

Before purchasing a property, a potential buyer may have done due diligence, dealt with the documents and inspected the property, but it is equally crucial that everything is in place when they take possession. There are many developers that make a greater effort to ensure that all the compliance requirements are met with, and that the homes they offer are beyond buyer’s expectations.

Tags : Interviews homebuyers Piramal Realty MahaRERA Property Dream Home New Home Completion Certificate Possession Letter