We outline the essential steps in finding and buying the best luxury apartment in Gurgaon.
If you are one of the many potential home buyers looking to buy a house in North India, it would be worth your while to train your sights south of Delhi, to Gurgaon. The city is one of India’s fastest growing commercial and residential hubs, sporting a range of world class amenities and excellent infrastructure to make daily life easy and pleasurable.
But if you are sceptical about looking for a luxury property in Gurgaon – after all, you are new to the city! – simply follow these steps we’ve outlined below:
* Deal only with reputed developers. You are justified in harbouring fears about putting your money in under-construction properties, because there is never a guarantee about project completion. But these fears prove right only in the case of fly-by-night operators. It is always better to make a beeline for luxury apartment projects developed by reputed developers. With the latter, you can be certain of project permissions, correct paperwork and even a sample flat on the site to see. Look for the best ready possession flats for sale in Gurgaon in areas like Dwarka Expressway and Golf Course Extension Road, so that you and your family can move in right after completing all formalities.
* Here’s a list of permissions to look for. There is an entire list of project permissions that developers must have before, during and after the project. As a buyer, you can ask to see these permissions:
- Developer’s RERA certification and number
- Commencement certificate, plinth certificate and IOD CC – before starting the project
- Slab permissions and plan approval certificate – interim permissions
- Completion certificate, Occupation certificate – Post-completion permissions (these two are a must for the building to form a society, get water and gas connections, etc.)
* Get the sale agreement vetted by your lawyer. The developer will have a sample sale agreement ready for the flat that you choose. The document will list the property’s credentials (flat’s carpet area, title clearance, building’s location on the city DP) and all the clauses pertaining to its cost and sale to you. You can study the document and mark any unclear clauses or items which need to be changed. You can then show the agreement to your lawyer to ensure that there is perfect clarity in the wording of the document.
* Pay the booking amount. You can now pay the booking amount or first instalment on the property in Gurgaon. It is will normally be about 20% of the entire flat’s cost. Once you have paid this amount, you can move on to paying the stamp duty and registration cost at the Collector’s office.
* Apply for housing finance. You can apply for a home loan after submitting the registered sale agreement and checking your loan eligibility. You can easily get a home loan if the project is pre-approved by a housing finance company.
* Finish paying for the house. Now you can pay the developer the balance money and have the flat transfer process underway. Once all the paperwork is complete and the house keys are handed to you, you can move into your dream property in Gurgaon right away!