Hi, I am looking to buy a 3BHK from land owners share. Existing Owners please advice.

Ideally, Landowners share flats are a good bet at times because it is generally available at a very competitive rate. You should look into the following things before purchasing land owners flat.

1) You should check the agreement between Landowner and the developer. Things need to be checked in the agreement are - Flats allotted to Land owner, who has the marketing rights of the flats, Any date clause mentioned by the builder, any price clause mentioned.

2) If the land is a joint holding please check the partition deed. Agreement between all the landowners.

3) You should check on the material used if it is similar or different from the builders stock, if not you can negotiate for more.