Common Legal Mistakes Buyers Make While Purchasing Flats

Buying a home you can call your own is every person’s milestone, believe it or not. It’s emotional, nerve-wracking and overwhelming as well. Any apartment, be it big or small, opens doors to your imagination. From furniture, placement of rooms, and even colours, buying a flat in Kolkata is somewhat your ticket to planning your very own housewarming party. 

But, while your heart is busy celebrating this achievement with your loved ones, it’s critical for your mind to ensure all documents are up to the mark and in sync with legal norms. 

In India, especially when it comes to luxury apartments in Kolkata are layered and come with a bag full of formalities. One small mistake today and you’re bound to step into years of stress and long lines. But did you know that most home buyers make mistakes not because they are in any hurry or careless? But, because they are unaware of the when and why of this process. 

Understanding these key mistakes beforehand can be life-saving and beneficial, especially if you’re new to the home-buying market. Listed below are some of the many mistakes to avoid. 

Common Homebuying Mistakes and How to Avoid Them

Not verifying the Title of the Property: This is by far one of the most common mistakes made by new homebuyers. During that period of time, the joy of achieving this milestone is much greater than the smaller roadblocks that may or may not be harmful in the years to come. If the seller does not have a clear title of the land, it may cause problems for you in the longer run. 

If the property looks legit or is even marketed well, buyers of these luxury apartments in Kolkata are under the impression that the legal paperwork is on point. However, it’s not always the case. 

Before committing to any buyer or property, the following needs to be thoroughly checked to ensure a smooth handover process.

• Land title is free from disputes
• Ensure the chain of ownership over the past 20-30 years is clean and fraud-free
• Verify that the land isn’t under any government acquisition

Ignoring RERA Registration: This act was built solely to protect the homebuyers, making sure their buying process is smooth and hassle-free. However, many of them still forget to tick this box off simply by checking whether the project is RERA-verified or not.

This process serves as a major booster for new homebuyers, only cause it aids them with

• Timely delivery of the project
• Complete transparency of project details
• Complete steer-away from unfair practices

All you need to do is simply open the RERA website and add the project’s registration number for further clarity, and you’re done. 

Ignoring Building Approvals and Sanctions: The construction of your new riverside apartment in Kolkata is at full pace. But, is it actually legally approved? Here’s a small checklist to ensure everything is done the right way

• Building plan approvals
• Commencement certificate
• Local municipal approvals

If the project lacks any of these approvals, down the line it can either lead to penalties or even demolished, leading to a delay in possession. 

Not reading the agreement carefully: Let’s be honest. When it comes to doing the last minute formalities for your dream home, the sales agreement is overlooked most of the time. This long, legal stack of papers seems intimidating for sure, but holds a lot of weight.  Hidden within these fine prints are some of the major pointers one should avoid overlooking

• Possession Timelines
• Penalty for Delay 
• Payment Schedule
• Maintenance Charges

Not being able to run through these papers thoroughly is a major win for the builder. So, take your time, go through everything thoroughly before you sign anything.

Finding Out Hidden Costs: Before booking any flat in Kolkata, the very first thing you come across is the price. However, is that price actually the final one you’re paying? It isn’t. Many buyers often don’t account for some hidden charges that may or may not be known by new home buyers. Some of them are

• Stamp duty and registration charges
• GST
• Maintenance Deposits
• Parking Charges
• Amenity Fees
• Legal and Documentation Charges

Skipping Society Checks:  Moving into a new home is a dream for many. But, moving into a new society can be equivalent to walking on thin ice, if you haven’t done the minimum checks required. A new society comes with a new environment and a new set of rules for the area you’re living in. Before making this bold move, one should thoroughly check in and around the area for convenience stores, connectivity, power and water supply, security and more. This isn’t just a checklist, but considered bare minimum to ensure your moving process is smooth. 

  Legal Due Diligence: Why it Matters More than Ever

In a city like Kolkata that is fast-paced and happening, most decisions we make are often rushed into. Limited-period offers, pre-launch prices, last few units etc are some of these tactics unpopular home sellers make to spike sales. But buying a property in Kolkata is more than a purchase, it’s an investment of a lifetime, both financially and emotionally. 

Spending some time before diving into any final decision can save you a lot of time in the long run. Buying your next new home with Oswal Group should be exciting as well as certain. We don’t just ensure your next homebuying process is smooth, but also protected. We don’t just offer a location that sells, but also amenities, security, and clarity when it comes for your next new home. Our latest offering, Orchard Ananta in Sodepur, offers the best of everything under one roof with the assurance of a lifetime. It also comes with benefits that are one-of-a-kind in Sodepur. 

Being a renowned developer across Kolkata, bringing happiness and assurance to multiple new homeowners, it’s your time to place your trust in Orchard Group as we ensure your next BIG step is seamless and carefree as ever. 

FAQ

Q.Is it safe to buy a resale flat? 

Buying a resale flat isn’t something new homebuyers aren’t doing over the years. But if we talk about whether it’s safe or not? Yes, it is if and only if you’re purchasing it from a renowned developer or known individual. Speaking of a renowned developer, Oswal Group has its group of projects that you can consider either for resale or purchasing a new one altogether.

Q.How can I check if a project is RERA registered? 

The answer is simple. All you need to do is login into the RERA website and drop down the details such as the developer’s name or registration number. This will give you all the information you need to ensure whether the flat in Kolkata is registered under RERA guidelines or not.

Q.What happens if I buy a property without registration?

Purchasing an unregistered property without any legal validation cannot be enforced in a court of law and also cannot be used as proof of ownership.