Learn RERA verification before buying a flat, documents to check, builder risks, and legal precautions with guidance from Property Lawyer Delhi.
Purchase of a property is one of the largest investments a family makes in their lifetime. A house not just contains years of savings, bank loans but emotional hopes and dreams of owning a house. But while most of the home buyers look for location, budget, type of property and unit specifications while searching for a flat, they fail to do another necessary legwork of verifying the property from a legal perspective before making a payment.
At BK Singh Advocates, we understand the importance of legal due diligence before making such large investments. Property verification before buying helps you know if the project is registered or not, if the builder has made all the mandatory disclosures under the law, if the promised area/ sq.ft of your flat is as promised or matches with the official documents, approved plans, license of the builder to sell in that particular state and much more.
Proper property verification allows you to know the risk associated with project approvals, date of possession promised, title/ownership documents, what builders can get you away with and whatâs officially documented, pending approval for the project, changes to sanctioned plans and more.
If you as a buyer are looking to buy that perfect house you have been searching for in Delhi NCR, Noida, Greater Noida, Gurugram, Ghaziabad or Mumbai or any other property in developing real estate markets in India, you will find many attractive deals and offers that might sound too good to be true. Grand advertisements and high selling points are no guarantee to make you legally secure while investing in a property. But by verifying your dream property under RERA, you can ensure that you have read & verified all the information related to the property as available on the RERA website.
Many home buyers go on to regret their decisions when they find out they either signed the agreement or made a heavy payment on a property without seeing some of the most critical information. They face delayed possession, forcible alterations to sanctioned layout plans, finding out the project has some approvals pending or was delayed due to title issues. Some buyers even end up becoming a party to lengthy buyer vs builder court battles.
Donât take such regrettable chances and perform your legal due diligence to know the propertyâs actual status well in advance.
Book a consultation to speak to our property lawyers about any property related matter you have. Get assistance on reviewing your agreements and understand what legal verification you should perform before making the property transaction. Every property case is different and depends on many factors such as the type of documents, project information, builderâs history, current legalities and more. Contact BK Singh Advocate to understand how we can guide you through the process of property verification before buying your dream property.
Real estate sector is witnessing a boom across various regions in India. New residential projects attract customers through online advertisements, show flats, EMI flexibility and promised amenities in the future.
However, purchasing a house is not only about choosing your dream apartment. You should also make sure whether project is legal or promoter has fulfilled all the required compliances.
Here are a few credentials that property buyers can verify through RERA verification:
With maximum number of real estate projects in Delhi NCR, the cities like Noida, Greater Noida, Gurugram and Ghaziabad have more property buyers. Therefore people from this region can benefit from RERA verification.
Property buyers who donât verify may fall prey to delayed possession, construction deviation from sanction plan, missing documents or future legal claims on promised amenities.
BK Singh Advocate guides homebuyers and investors about these legalities before they invest in a flat.
Cross checking RERA details is not just limited to checking the registration number. There is much more information that you need to validate during extensive due diligence.
Ensure the project is registered under respective State RERA website. If so, ensure it is registered under that particular state.
Look for â
All this information available to customers from RERA property history will help customers cross check what they are being told during hard sell.
Customers should ensure builder details, location of project, size of apartment being offered and sanctioned layout matches with what is promised.
Replicas, showcase models displayed in marketing brochures and sanction plans filed under RERA could be different and cause problems later.
Builder could include amenities during property booking which may not be part of common areas, sanction plans, project layouts.
Purchase of flat involves execution of various legal documents. Verification of RERA number of an under construction project is not enough due diligence these days. Below are documents which needs to be verified on ownership, approvals, agreement and project related documents before payment is made.
Doing this simple document verification would help buyers know where they can ask for representive on ownership rights, construction approvals, possession rights and clauses in agreement.
Below are few important documents which are generally provided by developers.
| Document | What to verify |
|---|---|
| RERA Registration Certificate | Project Name & Registration Number |
| Title Documents | Ownership details of land |
| Approved Building Plans | Approved plans for construction |
| Commencement Certificate | Valid Certificate for construction to commence |
| Sanctioned Layout Plan | Layout Plan of project |
| Sale Agreement | Agreement between buyer and builder |
| Payment Schedule | Payments to be made by buyer as per agreement |
| Encumbrance Certificate | Verify for any charges |
| Approvals | Verifications to be done on approvals obtained from respective authorities |
In absence of approvals or incomplete set of approval documents can lead to problems while taking possession of flat at later stage, resale and availing loans against property.
These days buyers sign booking form in haste because they think they might lose out on a budget flat or project gets sold out. If such buyers verify legally before signing any document, they would know where they stand and can ask for representive from developer.
BK Singh Advocate can help buyers verify their property documents and get legal due diligence done.
India implemented The Real Estate (Regulation and Development) Act, 2016 (âRERAâ) to protect home Buyers and improve transparency in the real estate sector. As per the Act, every State set up regulatory authorities to register projects, mandate disclosures and entertain grievances.
Project Registration
Rules around registering your real estate project with RERA. Typically, promoters working on eligible real estate projects are mandated to register the project with the respective Stateâs RERA authority before offering to sell units in such project to any buyer.
Project Details
Information required to be provided while registering a real estate project with RERA. Learn about details such as project information, approvals, promised delivery date, etc. as per legal requirement.
Disclosure of Information
Information available to you for RERA registered real estate projects. As a Buyer, you can access this information about the project to cross verify what is promised by promoters at the time of booking against official disclosures about the project.
Agreement and Possession Related Protections
Certain rules under RERA dealing with promotersâ commitment towards transfer of possession and project deliverables as promised under RERA or at the time of booking. Results will vary on facts and circumstances of each case. Please refer to your documents and specific legal proceedings.
Purchase your dream flat ? Let a property lawyer examine all the legal paperwork, point out loopholes and advise you about your rights before purchase.
Property Legal services include :
Property deals are BIG financial and legal decisions. And when there is so much money involved its only wise to have a professional by your side who has dealt with property transactions across Delhi NCR and metro cities .
Get legal help for all your property related queries before you sign on the flat buying agreement from BK Singh Advocate
Many purchase decisions are influenced by the advertisement they see or location advantages or may be just heard. While they are important factors to consider before buying, they shouldnât be the only thing.
Below mentioned are some common mistakes buyers tend to make:
Though registering a project under RERA gives you all the project information from regulatory perspective, always ensure that you do a background check on the legal health of the property.
Properties can have multiple legal standings. Each property is different and depends on documents, permissions, developer track record and laws under which they were governed.
Always engage a property lawyer before signing important documents/agreements or making hefty payments for buying a flat. A lawyer can help property buyers spot legal risks and get legal advice early on in the property buying process when it comes to title, builder claims, approvals and promises made under the agreement.
The reality is that most property buyers reach out to lawyers only when they have a dispute against the builder. By then itâs usually too late because they have already signed the booking form, agreement and made payments.
Property lawyers can guide buyers who are looking to buy property in Indiaâs metro cities such as Delhi NCR, Noida, Gurugram, Mumbai, Bengaluru, etc. and help them with legal due diligence to be performed before property sale is completed.
BK Singh Advocate provides legal consulting services for property buyers to review documents and understand legal aspects involved with purchase of residential properties.
The last scenario where RERA verification becomes necessary is while purchasing a resale flat. A lot of buyers feel that resale doesnât need legal verification since that is only needed while buying into a new project. But problems in documentation can occur during resale deals too.
Some documents to verify during resale purchase are:
Because a resale flat is up for possession, doesnât mean that the owner hasnât skipped any legal requirements during transfer of ownership. There can be pending dues/agreements from the previous owner which might create legal troubles for you down the line.
Verification done legally helps buyers know whether the seller is authorized to transfer ownership and if the flat is clear of any dues/legal liabilities.
One of the most important documents in a flat buying transaction is the builder-buyer agreement. Buyer should read through different clauses mentioned in the builder-buyer agreement. Doing this will allow the buyer know his rights and liabilities.
Here are some important areas that buyer should look for:
Clauses related to payment terms & Possession
Payment details, instalments details, handing over of flat etc. All such details should be mentioned in the agreement in black and white.
Buyer should ensure that payment schedule is matching with ground reality of construction progress and is as per terms agreed upon.
Carpet Area of the Property being sold, Details of property
Now with carpet area disclosure for sale of residential properties being introduced by RERA buyers should check if carpet area along with details of flat being sold is mentioned clearly.
Clauses Related To Agreement Cancellation/ Default
Buyer should know his liability if he wants to cancel the agreement (any reason) late payments or any other cause before signing the agreement.
Clauses mentioning about Promised Common Areas, Ameniteis and Facilities
Buyer should check if promises made by builder regarding common areas, amenities and facilities mentioned is matching with official project documents.
Get your agreement vetted by a lawyer. It would help you know where you stand legally before you are liable for anything.
Property Lawyer Delhi helps Buyers in due verification of property/documents, problems associated with builder and assistance in buying home units.
Investing in a flat is no small affair. You are taking a long term financial commitment towards that property.
A property Lawyer will make you review all these documents, point out the possible roadblocks and explain all the major clauses to you in the simplest manner possible.
BK Singh Advocate offers lawyer services for home buyers looking for practical legal guidance before investing/buying in residential projects.
Property Lawyer for viewing includes â Title document review, Information about project, Review of agreement, Review of clauses and Explainable probable risks that you may face. One thing to keep in mind by Buyers - Lawyerview should not be treated as one stop substitute to your own commercial decision. It only enables you to take a commercially informed decision.
Verification of projectâs details, builderâs details, approvals, allotment, sale, amount received by builder & details which are mandatory to be disclosed under RERA Act before buying a flat.
Registration with RERA itself is not enough as it only enables you to know various information about your project of interest. You need to go through verification process of propertyâs ownership documents, approvals, terms in agreement, sale documents and various other due diligence.
Verification enables you know everything about ownership of flat, sale agreement, due diligence required to be done on documents, builderâs obligations & responsibilities towards you and common pitfalls related to date of possession & terms.
Yes. Your property lawyer can help you verify details available on RERA website regarding project, builderâs agreement, title and ownership etc. before you buy or sell a property.
Title documents, approved plan, RERA registration detail, builder-buyer agreement, terms of payment, approvals etc. are few of the many other details you should check before buying a flat.
Real Estate (Regulation and Development) Act, 2016 enables builders to register their projects on RERA platform and provides protection to home buyers too. But in case, a dispute arises between builder and buyer it solely depends on facts & evidence you have on papers & the plan of action both of you decide to take legally in front of Civil Court.
Yes. It is always necessary to do your homework before putting money down for an under construction flat. There are high chances of lot of things going wrong in this process like delay in approvals, projectâs stage of construction where itâs actually supposed to be, date of possession promised to you vs date of possession promised by builder about the project.
Yes. You should do RERA verification for resale flats as well. You need to verify information given above additionally you need to verify ownership of flat, proper transfer of property to new owner, if owner has any outstanding dues on property if paid or not & documents during previous sale.
BK Singh Advocate can help you understand your propertyâs documents legally before you âDig Your Graveâ. He can help you understand the risk you are going into while buying a property and legally forewarn you about properties.
You can consult a property lawyer before you sign any agreement, pay an advance amount (booking amount) or before finalizing the deal of your dream flat.
Investing on a flat purchase is a massive investment that you will ever make in your life. So always research before putting your money down. Buy that flat only because it offers best location or it is within your budget or offers better facilities or built by renowned builder and all. But even these thet you can rest sure that your money will be safe until and unless you do a property verification.
If you do property verification through RERA before buying a property you will have every information about the builders project. Everything from project registration to what declarations are made by builder. What type of approvals has he acquired for the project. What does your flat purchase agreement says and what are you really getting into while doing this property transaction.
There have been numerous buyers who have sued properties when they realized that they just paid an advance amount without seeing any of the legal documents or they simply trusted someone on a verbal conversation. Any document is legal and official like an agreement, records and verification of property you will know better.
Speak directly with Advocate BK Singh at LEGAL365.
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