In my previous article, I had discussed the various nuances of a Real Estate purchase transaction, especially in an under construction project. I had discussed the first two dimensions namely the Project and the Developer, in my previous two of the five Article Series. Continuing from where I last left, I shall this time list out few most important parameters that a buyer should evaluate w.r.t the Developer of the project before investing his money in the project.
So, let’s examine Real Estate Property transaction’s Third dimension – The Dwelling Unit (DU) or the Apartment.
- 1. Is the unit is on Carpet Area that is being sold?
- 2. If it is a retail unit of a Mall, what are the approximate CAM Charges?
- 3. What are the features that are being provided like Wooden flooring, Modular kitchen etc?
- 4. Safety and Security Measures. Sunlight and daylight.
- 5. Quality of Material and workmanship.
- 6. If the sales agreement abides by the Model sales agreement from RERA?
- 7. Measures for Earthquake resistance. Developer’s Enterprise details – whether it is a partnership or proprietorship company, details of registration and picture proofs of promoters.
- 8. Neighborhood – what’s the access on class (either businessmen or service), what’s the category (super-rich, rich, middle class etc.) and ethnicity.
- 9. Five-year maintenance clause.
Col. CVS Sehgal is a Real Estate Coach and a regular blogger #Cvs_speaks.