[ Buyer Education ]
Checklist before buying an apartment in Bangalore
Buying an apartment involves verifying many details across legal, financial, and practical dimensions. This checklist is a reference you can use during your evaluation process to make sure nothing important is overlooked.
Legal verification
- RERA registration: verify the project is registered on the K-RERA portal and the registration is current.
- Title deed: ensure the developer has a clear and marketable title to the land. Get an independent legal opinion.
- Encumbrance certificate: check for any existing loans, disputes, or claims on the property.
- Approved building plan: verify that the plan sanctioned by the local authority matches what is being built.
- Land use: confirm the land is zoned for residential use in the current master plan.
- Completion or occupancy certificate: for ready-to-move properties, ensure the OC has been obtained.
Financial verification
- All-in cost: get the complete cost sheet including base price, GST, registration, parking, maintenance deposit, and all other charges.
- Payment schedule: understand the payment milestones and ensure they are linked to construction progress.
- Home loan eligibility: get pre-approved for a loan before finalizing a project.
- Bank approvals: check which banks have approved the project for home loans. More approvals generally indicate better due diligence.
Developer verification
- Track record: check the developer's history of delivering projects on time and as promised.
- Quality of past projects: if possible, visit completed projects by the same developer to assess construction quality.
- Financial health: a developer with strong financials is less likely to face delays due to funding issues.
Practical and location checks
- Commute trial: drive or take public transport from the project to your workplace during peak hours.
- Water source: confirm whether the project has Cauvery water connection or relies on borewells and tankers.
- Neighbourhood: walk around the area to check for noise, construction activity, and general upkeep.
- Resale market: check if similar units in the area have reasonable resale demand, in case your plans change.
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