Is it safe to purchase house in poddar aspire

Q: I checked all details. Master plan and legal approval details are not available. how safe is this project. What documents should we check before book the flat.

freeBird, Thane

3rd June 2015

Residential Project Review in Mumbai

real estate

no objection certificate

flat

house

documents to check before buying a house

land use certificate

land record

construction clearance

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Replies (2)

Hi Sandeep,
Apart from that, there are an easy way to verify that the project has clean paperwork or not. Just ask for loan approval documents. If it has loan approvals from financial institutions. Banks have strict lending rules and do their necessary due diligence before clearing loan.

If possible get professional help who specialize in property transactions and get all document verified.

Arushisha, Mumbai

4th June 2015

Comment

Hi,
Checked. project is not yet approved by leading banks. They said it is under process.

freeBird, Thane

5th June 2015

Good Morning,
Sometimes a project get delay due to legal approvals and we people doubt on builders credential. In India, a project need more than 22 approvals and you himself think about the government process. It is tiresome and developers have to wait a lot during those process.

Kishore Pathak, Mumbai

23rd June 2015

Hi,
When comparing property we usually look at location, price, connectivity and possession. No doubt these are the important parameters for short-listing. However, there are many more important things to check before you finalize a deal. These are land record, construction clearances, approved planning land use certificate, master plan of the area, no objection certificates.

Sandeep Mhatre, Mumbai

4th June 2015

Comment

but for possession we cannot rely on them. They gets signed some documents which mentioned that possession date is tentative.

freeBird, Thane

5th June 2015

You are right,
But can you name any one builder who gave possession on time or furnish the right details on their site. It is real estate and until a very strong real estate clearing process, we common people will have to face such difficulties. So, my advice to all always go for a ready-to-move property. Here, risk are very less.

Kishore Pathak, Mumbai

23rd June 2015