Frequently Asked Questions

Definitions often used terms in the following FAQs

Consumer/Buyer:A person who has booked/agreed to purchase for a consideration plot(s), apartment(s), or building(s) from a Real Estate Developer.

Real Estate Developer/Promoter:A person who develops and/or constructs building(s) or a township consisting of residential apartments and/or commercial complexes on an independently or a jointly-owned land, which are partially or completely sold to the consumers. However, a consumer does not include a consumer who has bought goods or who has availed services for commercial purposes.

Project:A Real Estate project undertaken by a real estate developer comprising of apartment(s), unit(s), building(s), wing(s), plot(s) for residential or commercial purposes or both with certain amenities and facilities for the use of the purchaser as specified in their agreement for sale.

Real Estate Agent:A Real Estate agent commonly referred to as brokers or channel partners or property dealers, is a person who is registered with the RERA authorities and the real estate developer. Such Real Estate Agent facilitates the sale or purchase, or acts on behalf of any person to facilitate the sale or purchase of any plot, apartment, unit or building, as the case may be, in a registered real estate project and receives remuneration/fees/ any other charges as commission/brokerage from the real estate developer.

Unit:A single apartment, shop or an office which is a part of a building or township being developed.

You can use this guide to familiarize yourself with rules, laws and other important information relating to your property.

Q&A

Buying Tips

The first step towards buying a property starts from being able to identify the one that suits your needs and fits your budget. With best rates and best quality homes.

Projects

Parameter	Questions
Location of Project	Where is the Project located?
Developer	Does the Developer have a good reputation in the market?
RERA Registration	In case of new and ongoing projects, whether the project has obtained RERA registration.
Title	All buyers should examine the Developer’s title to the land on which the Project is being constructed.
Approvals	Whether all approvals are in place with respect to the Project
Residential/Commercial	Whether the Project is a residential or commercial, or comprises of both?
Amenities	What are the amenities that the Developer is offering in the Project?
Under construction/ completed Project	Whether the Project is an under construction or a ready possession Project?
Encumbrances/Litigation	Whether there are any encumbrances/ litigation with respect to land on which the Project is being constructed?
Connectivity from the location of the Project	How far is your office from the desired location? Where is the nearest market, school? Are buses/trains easily available from the location? Are Hospital/ Medical services available easily from the location?

FLAT/APARTMENT/UNIT

Parameter	Questions
Carpet Area, Type of Flat/Apartment/Units	What is the Carpet Area of the Flat/ Apartment/Unit? What are the types of Flats/ Apartments/Units available in the Project?
Payment Plans/ Schemes	What is the Payment Plan for the sale consideration towards the Flat/Apartment/Unit? What are payment schemes offered by the Developer? Which banks are associated with the Project?
Affordability	Does the Flat/Apartment/Unit fit in your budget?
Possession Date	In case of ongoing/ new projects, when will the possession of the Flat/Apartment/Unit be given by the Developer?
Availability of water and electricity	Is there a steady supply of both?
Society expenses	Is the monthly outgo on the society and maintenance a strain on your budget?
Security	Are the security systems in place like a professional guard or electronic systems?
Parking	Is parking facility available in the Project?

DISCLAIMER

These Frequently Asked Questions (FAQs) / material have been published for general information purpose only.You are advised to take specific legal/financial/tax advice on the above mentioned matters.

The terms and conditions for the purchase of the apartment/unit/plot shall be as specified in the final agreement for sale executed between the buyer/consumer and the real estate developer.

The FAQs discussed/provided herein are subject to amendments by the appropriate Government from time to time and interpretation by the Courts and concerned authorities.

We including our subsidiaries/affiliates/employees do not claim any expertise in advice on the same. We including our subsidiaries/affiliates/employees shall not be responsible for any reliance placed on the materials contained herein.