Buying a resale flat.

Q: I am planning to buy a resale flat which is 4 years old but society has not formed yet, Does it mean it is an unauthorized construction? What should I keep in mind before buying the flat?

ranganathan_ananth,

20th January 2012

Buying property in Hyderabad

resale flat

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What point should we need to know while booking resale property?

Dhananjay, Hyderabad

3rd September 2015

Comment

As per my understanding point that need attention when purchasing a flat from the resale market:

1. Checking the documentation carefully is the foremost thing that demands due consideration.
2. It is essential to check whether the seller is the true owner of the property.
3. It is also vital to ensure that the seller doesn’t have any dues to the society, building or against the house that you may have to pay later.
4. It is imperative to check the physical condition of the flat before investing your hard earned money into it.

Tinku Patel, Hyderabad

3rd September 2015

Is it Sensible to Buy Resale Flats?

Dhananjay, Hyderabad

3rd September 2015

Comment

Resale property require dealing with some mandatory expenses like registration fees, stamp charges, transfer fees, utility transfer fees and real-estate agent fees and many others.Sometimes, the previous owner may not have cleared the dues with the society or building management, which would need to be doled out by the new owners.Some variable expense is also there in buying resale property.

Sridhar, Hyderabad

3rd September 2015

Purchasing a resale and ready-to-shift flat helps save a good amount of money that would otherwise have been expended in paying rent or EMI and rent both, in case of under construction dwellings.The immediate possession can provide tax benefit from the first EMI itself.Everything that is in front of your eyes is yours once you own the property.

Pravallika, Hyderabad

3rd September 2015

I will advice you to talk with the authority who approves building plans, tax etc. To get a better idea ask for the records that they have in their office from that you will come to know all the details about the property.

lalit.verma74,

20th January 2012

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