If there are partners in the project you want to buy, then you need to know what their shareholding pattern is. What if the partner with a high share conspires to send others out? You should inquire about this while buying the plot. Don’t think it has anything to do with you. Because if there are quarrels between partners and court cases, remember that you will also suffer in the end.
Some builders do not follow the provisions written in the development agreement. Although it was initially written that the project should be started only after getting all the government permissions, without the knowledge of the land owner, flats are being sold in pre-launches. If you ask about this, they are trying to get the landlord out of it. If necessary, they create trouble by filing false cases. So buyers don’t buy in these.
Try to find out about the chairman and MD of the company selling the property to you. You need to know how many partners and directors are there. Their background must be checked. Know their track record in project handover.
When and where were projects undertaken in the past? How he completed it should be inquired about. That is, was the project handed over without disturbing the buyers? Or find out whether they have caused trouble.
Do not believe expensive and beautiful brochures under any circumstances. Don’t buy real estate just by looking at it. Remember, they are just presentations to impress you. In recent times, some builders have not constructed the projects, but they are fooling the buyers with such brochures and robbing them of their hard-earned money. So, be extremely careful.
