vipul parmar (n/a) 31 July 2007

Purchasing a Flat

What are the precautions to be taken while purchaing a flat

7 Replies

narainreddy (Lawyer) 27 August 2007

If the property which you are going to purchase is an apartment you have examine and verify:

a. The title to the land on which the apartment building is constructed. For tracing and confirming the title of the land on which the Apartment building is built, the same precautions which one take while purchasing a land have to be adhered.

b. Read the Deed of declaration and it will give you a clear picture as to what are the common rights, facilities, how it has to be enjoyed, how it has to be maintained. As a whole the deed of declaration will contain the various provisions regarding the mode of enjoyment of the apartments, common areas, and facilities.

c. The percentage of right in the land which you are going to get has to be verified

d. Whether the Association of the Owners has been formed?

e. Get a no due certificate from the Association of Owners regarding maintenance or other charges so far as it relates to the apartment, which you are purchasing.

f. The building license, plans, completion certificate latest tax paid receipt have to be verified.

g. All documents relating to land as explained above have to be verified.

h. The original of the sale deed relating to the apartment, which you are purchasing, has to be obtained.

yedhash (n/a) 29 August 2007

Thankyou verymuch Mr.Narain Reddy.

sharmila (n/a) 29 August 2007

Before you purchase a flat, you have to have a title and document search conducted by a competent advocate. You cannot do it yourself. You have to use the services of a competent advocate. It is a professional job to be done with professional assistance.

kirankumaradv (n/a) 29 August 2007

What is the difference between built up area, super built up area, and carpet area?

narainreddy (Lawyer) 29 August 2007

Carpet Area -
This is the area of the apartment/building which does not include the area of the walls.

Built up Area -
This includes the area of the walls also.

Super Built up Area -
This includes the built up area along with the area under common spaces such as the lobby, lifts, stairs, etc. This term is therefore only applicable in the case of multi-dwelling units.

kirankumaradv (n/a) 29 August 2007

[font=""courier new""]Who is liable to pay Stamp Duty, the buyer or the seller?[/font]

[font=""courier new""]The stamps are required to be purchased in whose name?[/font]

narainreddy (Lawyer) 29 August 2007

The liability of paying stamp duty is that of the buyer unless there is an agreement to the contrary

The stamps are required to be purchased in the name of any one of the executors to the Instrument