Know everything necessary about buying your dream flat for sale in Chennai

Points to Remember before you seal the deal

• Sale deed

  There is a heavy exchange of documents involved in the process of buying a new home. It is an inevitable part of the process. Amongst the list of all legal documents required, sale deeds are the most important. It is the primary legal document which must be registered as it acts as a proof for transfer and sale of the property you are willing to buy.

  Further, it must be established as a rule of thumb to thoroughly view all the terms and conditions before signing any documents during the process.

• Construction clearances

  A commencement certificate is issued by the town planning engineering department after undertaking a complete inspection of the buildings, boundaries and superstructures of all the flats for sale in Chennai. It is a mandatory requirement for any sellable property. The certificate also ensures the issuance of all the licenses and permissions for the building by the real estate developer’s desk.

• Approved planning

  As a responsible home buyer, you must be well-acquainted with all the details associated to the development plans and approvals of the 2 BHK flats for sale in Chennai that you are considering. Keeping in regular touch with all legal documents and requirements is identified as a good practice. One must carefully check all the legal documents to secure this once-in-lifetime investment and steer clear of any malpractices. Recheck the building plan, layout and design before finalizing your dream home.

• Certificates of the land in use

  Before buying a new flat, there are plenty of documents that require verification. Every housing complex has to obtain land-use permissions from higher legal authorities to ensure honesty in the usage of government property. You must ensure that your apartment for sale in Chennai has all appropriate certificates and permissions required. Over the past few years, Chennai has witnessed rapid expansion in the real estate sector. The land in the city is highly demanded, given the top-notch universities and IT buildings in the city. If you are in possession of all the appropriate documents, your apartment shall rightly be considered legal for residence.

• No objection certificate (NOCs)

  The real estate developer must always hand you a no-objection certificate with the urban land ceiling NOC, environment NOC and all other NOCs from the municipal water corporation and authority. You must ensure the receipt of all these certificates from your developer to enjoy a peaceful everyday life. These certificates will ensure the addition of your family headcount with the municipal corporation.

• The bank that is financing your loan

  Real estate developers and companies often share reliance with banks to facilitate loan provisions for home buyers. Banks are increasingly becoming wary of financing projects. While on the lookout for new homes, you may come across several flats which do not fall under the loan facility of any bank. This is because the bank might not find the flat location, appearance, surroundings, amenities, development etc. suitable for a loan. Therefore, your home buying process must either lead you to a flat for which banks are willing to provide a loan or to a bank that can extend a housing loan to you.

• Know the Size of the flat you want to buy

  Real estate developers often mention the super built-up area to their customers which includes the areas covered by the lift, lobby, staircase and other places of common interest. This accounts for the measurement of a lot of additional areas, beyond the flat. The actual size of the flat might turn out 30 % less than the super built-up area. One must know the actual size of the flat they are willing to buy.

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