Buying an under construction flat

136 votes

First find out the exact amount to be charged by builder as transfer fees? Who will make payment seller or buyer? Ask seller to obtain NOC from builder for sale of flat, original agreement for sale entered with builder by the seller. Building plans duly sanctioned by municipal corporation. Inspection of original title deeds for land on which building is being constructed. Don't enter into any agreement with the seller unless bank is willing to sanction loan for the flat. Best option is to wait for for building to be completed by the builder. Possession handed over to flat owners.Transfer charges would then be nominal. There is no harm in paying little more money for the flat but at-least your money is safe. Let builder obtain an OC from municipal corporation, then buy flat.