First-time buyers often overlook critical due diligence steps. Here is our comprehensive checklist to protect your investment.
Investing in a new real estate project is one of the biggest financial decisions of your life. To protect yourself and make a smart choice, here is what you should verify before signing any agreement.
1. RERA Registration
Always check if the project is registered under the Real Estate (Regulation and Development) Act. The RERA number should be prominently displayed in all marketing materials.
2. Developer Track Record
Research the builder's history. Have they delivered projects on time? Visit their completed projects and speak to residents about quality and after-sales service.
3. Clear Land Title
Ensure the land has a clear, undisputed title. Request an encumbrance certificate and verify that no loans or litigations are pending on the property.
4. Construction Quality
Visit the site, assess the quality of materials, and check the specification sheet in detail. Do not rely solely on show flats or marketing brochures.
5. Payment Plan & Loan Eligibility
Understand the payment structure and confirm bank loan approvals for the project. This is a strong signal of the project's financial credibility.
