The Builder and the Project

           
Choosing the right builder requires a bit of homework. Here is what you need to check for.

            
Ensure the builder has a sanctioned site plan and all other government approvals. Check for an international quality certification like ISO 9000.
Talk to people who have already purchased a home from the same buyer, to get hindsight of the developer’s reputation and quality of work.
Do negotiate with the builder. There are various ends from which builders could reduce prices.
Find out the expected time of project completion.  You would need it to work out your finances accordingly.
Check for amenities such as storage space in the house, quality of fittings, round the clock security and power back up.
Ask for a layout plan of the home, showing square feet area, carpet area, common areas, staircases, and lobbies. Most builders charge an additional cost for car parking and choice of floor.

        
Carpet Area, Super Built-Up Area and Total Built-Up Area

            
The carpet area is the actual area of the house which you could use.

                    
The total built-up area includes the carpet area as well as the space occupied by the walls and the balcony of the apartment.

                   
The super built up area would be the above two areas plus common areas such as the lobby, lifts, staircase, garden etc.

                      
Documentation Procedure

                 
For properties in the initial stages of construction:

               
The builder gives an allotment letter, on payment of the booking advance, detailing the agreed price, payment and construction schedule, delivery date and builder's liability in case of late completion. A sale agreement is signed with the stamp duty having been paid by the purchaser.  The stamp duty is a percentage of the transaction value as per the state government on every registered sale. 

            
On completion and when the house is delivered, the builder gives a completion certificate, stating that the building complies with the approved plan and obeys all specifications. This certificate is very important for the registration of the house. The final sale deed is stamped and registered at the appropriate local area office.

                   
 If you are buying an already constructed property:

                  
Check if the seller has the title, possession and the transfer rights of the property. All dues of property tax, water and electricity should have been paid. Take possession of all relevant documents such as the original allotment letter, completion certificate and other documents, as given by the original buyer.