Questions to ask when buying a new construction house

Buying a house is a huge deal especially when it comes to Indian middle class households. I remember my father, mother and grandfather used to spend hours at stretch discussing property and property agents when they were planning to buy the house we currently live in. It is natural that we’ll have a host of questions which are supposed to be answered. But if you are wondering what questions to ask when buying property, then perhaps I can share a list of them with you. Follow through and read.

Here is a list of questions to ask when buying a new construction home:

• What is the location of the project?

• What is the scope of development of the area and the project?

• Are all the legal requirements fulfilled?

• Can I see the approvals from land authorities, municipal officers and RERA?

• What is the cost of the project?

• How much ROI is predicted?

• How much GST is being charged?

• What is the statutory cost?

• What type of material is used in construction?

• Can the buildings withstand disasters like earthquakes?

• What will be the level of preparedness for any disaster?

• What is the property area as per RERA and what is the actual area?

• What is the timeline of delivery of the project?

• Can you show me some previous work samples?

• What is your builder RERA agent number?

• What are the amenities that you are offering?

• Will these be delivered at once, or the amenities will be delivered in phases?

• What will be the maintenance charges?

• What is the pricing structure of the sale?

• Can you show me the complete building, floor and apartment plans which are approved by authorities?

These are a bunch of questions which should be answered before buying a property.

Apart from this you must ask for:

• The Title Deed

• Encumbrance Certificate

• Property Tax Receipts

• The Release Certificate

• Building Completion Certificate (BCC)

• Local Municipal Corporation approvals

• RERA certificate

• Commencement Certificate

• Building Approval Plan

(Whichever is applicable)

You should be careful and responsible hence these are the questions to ask when buying property.