Buying a flat is one of the biggest financial decisions of your life. These five checks will protect your investment.
1. Verify RERA Registration
Before anything else, check if the project is registered with MahaRERA. A RERA number guarantees that the developer is legally bound to deliver on time. Verify at maharera.mahaonline.gov.in.
2. Check the Builder Track Record
Research the developer's past projects. Have they delivered on time? A builder with 10+ successfully delivered projects is a much safer bet.
3. Understand the Payment Plan
Read the payment schedule carefully. Construction-linked plans are safer than time-linked plans.
4. Review the Sale Agreement
Check: carpet area vs built-up area, possession date and penalty clauses, maintenance charges, and parking terms.
5. Evaluate Location for Future Growth
Look for upcoming infrastructure - metro lines, highways, IT parks, and hospitals within 5 km. Thane West is seeing exponential growth due to Metro Line 4.