Checklist for the Purchase of Flat from Builder/Promoter Checklist for the Purchase of Flat from Builder/Promoter
I About the Builder/Promoter 1
How is the Reputation of the Builder/Promoter
2
Examine the Number of Buildings/Projects that the Builder has completed in the past
3
How is the quality of construction of these buildings
4
What is the Financial Standing of the Builder/Promoter
5
Find out the adequacy of the technical staff of the Builder/Promoter
6
How were his past dealings with his customers
Good
Avera ge
Bad
II About the Title Deeds
Yes
No
1
Has the Builder shown the Purchaser/Buyer relevant documents regarding the title or the plot on which the building is to be constructed
2
Is the Title certificate attached to the Agreement (From a reputed Lawyer/Attorney/Solicitor)
3
Has the Builder annexed a detailed description of land, in Agreement of Sale, in form of schedule
4
Whether all details regarding encumbrances is brought out clearly or is there any vague reference to encumbrances
5
Extract of the Property register card, or other revenue record of the land of the land/plot on which the flats are going to be constructed.
III
Inspection of the Plans/Drawings
1
Has The Builder got the approval of plans/drawings from MC/Local Authority
2
Has the approved plans been shown to the Purchaser/Buyer
3
Has the Builder shown the Commencement Certificate ( C.C ) and the Intimation of Disapproval (I.O.D)
IV
Area Number of Flat Etc.
1
Are the Serial Number of flat, floor at which it is located and the name of building/wing distinctly indicated in the body of the agreement
Yes
No
2
Is the Carpet Area, Built up Area and Super Built Up Area, clearly demarcated in the Agreement
3
Is the Dimensioned Floor Plan, Annexed to the Agreement
4
Is the Plan Mentioned above (3) signed by the Builder at the time of execution of the agreement
V
Amenities/Specifications
1
Has the Builder annexed a schedule of amenities/specifications (Type of fittings, water supply, sewerage, flooring, doors, windows sanitary) with the Agreement
2
Is the Sale Agreement in accordance of the conditions laid down by the Urban Land (Ceilings and Regulations) Authorities
VI
Description of Common Areas and Facilities
Yes
No
1
Does the Agreement to Sell describe the Common Areas and Amenities
2
Entrance Hall, Lobby, Lift, Compound wall Etc
3
Percentage Interest in the common areas of the Purchaser/Buyer
VII
Possession
1
Is the date by which the possession of the flat is ti be given specified in the agreement for sale
2
Is there provision in the agreement for the refund of the amounts due by the builder along with simple interest @ x % p.a from the date of receipt by the builder till the sate of refund in the event of builder failing to give possession of the flat by a stipulated date or mutually agreed extended date
VIII
Mode Of Payment
Yes
No
Yes
No
Yes
No
Yes
No
Is the Mode of Payment of installments distinctly mentioned in the Agreement to Sell
IX
Permission Under Urban Land Ceiling and Regulations Act 1976
1
Has the Builder obtained permission of the competent authority for developing the Plot
2
Is the Sale Agreement in accordance with the conditions laid down by such authority
X
1
Outgoings
XI
2
No
Yes
No
Has the builder mentioned the amounts payable by flat purchaser on taking possession in respect of legal charges, share money, application entrance fee of society, charges for formation and registration of the society and proportionate share of taxes and other charges
Stamp Duty Of Registration 1
Yes
Is the flat Purchaser/Buyer aware of the stamp duty payable Is the flat Purchaser/Buyer aware about the registration and that it is compulsory
3
Is the flat Purchaser/Buyer aware about the registration and stamp duty is payable by him
4
Is the flat Purchaser/Buyer aware that the time limit for registering the agreement is four months from the date of its execution
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