Planning to buy a flat or a villa in Mumbai? If yes, below are some legal prerequisite steps you must follow before signing any agreement.
Documentation: First and foremost prerequisite of buying a flat in Mumbai is document verification. Before I elaborate on this, I would like to share a few things you must remember:- (1) you won’t get a home loan from any bank if the property you purchase is a lal-dora property or not properly registered. So, check the legal documents related to property and make sure it is properly registered to avoid any further issues.
Physical verification of the property: Secondly, never believe what’s mentioned on paper as long as you don’t personally verify the authenticity of the shared details. There are builders who put clauses in between the agreement which would give them a higher control of the property compared to the buyer even after property is sold. Therefore, physically visit the flat in Mumbai and verify the dimensions.
Inquiry about amenities: Last but not least, check the amenities provided by the builder because you’ll be paying a huge amount as subscription fees for these amenities. Hence, you should always be aware of what you’re paying for. Therefore, inquire your builder or property seller about the amenities you get with your property and make a practical decision accordingly.
Lastly, assuming there would be a time when you’ll actually take the plunge to buy a property in Mumbai, you must be aware of fraudsters. Make sure the property and the seller is RERA verified.
Additional Read: 3 Prime Reasons to Buy a Property in Mumbai