Purchase of under construction flat
While purchasing under construction flat (flat in new society), buyer need to be vigilant. This write-up covers several such points.
1. Title Search of property - to ensure that you are getting property free from encumbrances.
2. Ensure that building plans are sanctioned by Municipality / government authorities. Ask the builder for the sanction letter provided by Municipality / government authorities.
3. The agreement with the builder: Ensure, amongst other things, the following:
(i) area is mentioned in the agreement.
(ii) details of various costs that you will need to bear. This may include the cost for utilities like electricity and water, parking space, various taxes and in some cases even the registration charges. If the extra charges are for alterations made to the original plan, ask the builder for the sanction letter provided by government authorities for such alterations.
(iii) Try to get a clause included which will ensure that the contract can be terminated if the builder provides a house with the carpet area less than what is mentioned in the contract.
(iv) formation of society.
(v) Date of Possession. If flat is booked, buyer shall check the progress of the construction personally. If the progress is slow and would not meet the date of possession in a timely manner, build pressure on the builder.
(vi) Completion certificate / CC: It is issued by municipal authorities which establishes that the building complies with the approved plan. Ensure that the agreement has a clause which states that the builder will provide the Completion certificate while handling over the house to you. You would need this certificate for registration of your house and other government formalities.
How to calculate area of flat:
Carpet Area: The area of an apartment or building, not inclusive of the area of the walls is known as carpet area. This is the area in which literally a ‘carpet’ can be laid. However, you will not come to know the exact size until the flat constructions is completed.
Built-up area: When the area of the walls including the balcony is calculated along with the carpet area, it is known as built-up area. The built-up area along with the area under common spaces like lobby, lifts, stairs, garden and swimming pool is called super built-up area.
Super built-up area: Calculate the common area,such as entrance lobby, staircase, lift etc. & divide it by total nos. of users. It gives the share of common area. By adding it with carpet area, super built up area can be found.
Occupation Certificate:
Obtaining Occupation Certificate (OC) should be a must-have document for those purchasing flats, before taking possession of their property. If you are denied the same, then the consumer court can come to your rescue.
The OC, issued by the local municipality, stands for the completion of the property as per the approved plan, so as to be fit for occupation, and should be in compliance with all concerned laws.
Obtaining OC is an essential requirement under the Maharashtra Ownership Flats (Regulation of Promotion of Construction, Sale, Management and Transfer) Act 1963 and the flat purchased cannot legally occupy the same, unless the OC is obtained by the builder.
Distressed flat-purchasers have a precedent in their fight with builders, as the Bandra Consumer Disputes Redressal Forum, last week, ordered Dharia Developers to give a purchaser OC within four months, noting that the OC is an essential requirement for a flat-buyer.
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