5 Things you must check before buying a flat in Zirakpur

1. 21 Aug

2. 5 Things you must check before buying a flat in Zirakpur By Affinity

It is an aspiration for every Indian to own dream home, and not to undermine the fact that buying a property is always on the wish list of the investors for the potential returns it can deliver. When it comes to buying a residential property, we look at the location, price and the possession date. Without any doubt, these are relatively more important parameters but there are many other important points to check before finalizing the deal.

Zirakpur is the bustling commercial hub of Tricity and it has a host of residential projects which cater to various needs and tastes. A wide array of choices at your disposal make it convenient for you to make a selection, yet at times it becomes baffling. To make your selection process easier, here's a compilation of 5 things you must check before buying a flats in Zirakpur:

Legal Documents

First thing you should include in your checklist is to verify the builder's legal documents. While buying a property, checking ‘Certificate of Commencement’ should be your topmost priority. This certificate simply means that all the requisite licenses and approvals have been obtained by the real estate developer. Also, you should check to verify if the building plan, as well as the layout plan, has been approved by the proper authority. It is always good to run an additional check on "Land use Certificate". It is illegal to construct a residential building on commercial land, so it is important to check the "Land use Certificate". Last but not least - the real estate developer should also be able to provide you with the copies of No Objection of Certificate (NOC) of the urban land ceiling, environment department, as well as from the electricity and water authority.

Total Cost of ownerships

It is important to evaluate the total cost of ownership. This includes stamp duty, registration charges, parking charges, maintenance etc. There are many options available in Zirakpur and one can get lured by misinformation provided on total project cost. However, you can be rest assured that Affinity Greens by ABP Builders, one among the best real estate builders in Zirakpur will offer complete transparency during the transaction.

Banks financing the project

Some of the real estate companies are deprived of cash flow with the pressure of unsold inventory. This leads to banks becoming wary of financing a new project and there are chances that you won't be able to get a bank loan at all. So, you must find out the banks offering loan at what rate. While buying a 4BHK luxury flat in Zirakpur by Affinity Greens, you will have the luxury of bank loan options from leading banks at the lowest rate possible.

Developer's credentials

Verifying the credentials of the builder is very essential. It is always good to do a background check on a builder's past projects – knowing if it was involved in any litigation or was there any delay. You may do an online search or even post queries in various real estate forums.

Useable area

It is important to know the final useable area of the apartment, and understanding the difference between "super built area" and "carpet area". While the "Super built area" includes common areas such as staircase, lobby etc, "carpet area" is the area within four walls, which you can put to use. Home dwellers need to be comfortable with the area they will finally get to use.

If you are still circumspect about legalities involved while buying a 3bhk flats in Zirakpur then you may consider spending a little in engaging a lawyer for verifying important documents and property transaction paper.