Rights of an owner post buying an apartment




Buying an apartment could be a hasty affair when you are on the run to manage various activities of the purchase and registration process. The rights entitled to an owner must not be overlooked while buying an apartment. From the time when it is being booked to handing over the property, the home owners must be aware of their basic rights to ensure a transparent process while purchasing that is free from discrepancies. A few key things to be noted while booking an apartment includes:
1.    Letter of allotment
Developer should issue letter of allotment as soon as the booking is confirmed. A receipt of any advanced paid or initial payments should be obtained.

2.    Payment schedule as per construction
Prior to signing the agreement, a prospective homebuyer is entitled to a payment schedule that sets a date for each milestone to be achieved during the course of construction which must be adhered to by the builder. A construction-linked payment plan can be vouched as a basic right of the prospect as he needs to pay only for the construction phases completed successfully.

3.    Account statements and GST invoice
The builder is expected to send the customer a statement of account once in every 3 months or as per the customer’s request. With the introduction of GST, the builder should also give them an invoice for every payment milestone crossed as mentioned in the agreement.

Buy ready to occupy apartments from Melonwood Homes one of the leading builders in Kochi,Kerala


Comments

Post a Comment

Popular posts from this blog

4 Things that a Nuclear Family Should Consider During Home Search

Image
In India, We are breakdown of joint families into small, nuclear families, the priorities of a modern homebuyers have seen a dramatic change. Instead of size and number of rooms, the neighbourhood, social infrastructure and facilities offered in a project have now become top considerations. As against a joint family, the requirements of a nuclear family are much different when it comes to property purchase. To begin with, a nuclear family, which comprises of a husband, wife and children, requires lesser space than the joint family setup. Nuclear families do not need nearly as much space as a joint family. The criteria for the choice of a property in a nuclear family are radically different from those of a joint family. Here are five things that make a big impression with today’s homebuyer. 1. Security   In the case of a nuclear family, parents leave home early for work and return in the evening, leaving their children and the elderly behind. Security, therefore,
Read more

Make the most out of real estate investment easily

Image
Real estate investment in residential properties assure effective returns and it is highly regarded as a wealth maximizing opportunity. For a successful investment flats, apartments and residential projects, it is vital to consider certain parameters like connectivity, proximity to social infrastructure, etc. Here are a few guidelines to help make the most out of real estate investment: 1.    Learn more about the property cycle to identify the entry point in real estate sector correctly. 2.    Understand in depth about the government issues leasehold titles. 3.    Ensure the quality of development to assure that you gain healthy returns and also to refrain from bad investment options laid forward by depressed market. 4.    An investor must be aware of the gain in capital and stamp duty amount to be paid. 5.    Verify development plans and statutory approvals and do a close scrutiny throughout the investment cycle. 6.    Check on the credibility of the developer and their past tr
Read more

Reasons that make Edappally a prime location in Kochi

Image
Edappally is one of the fastest growing suburb on Kochi which is also considered as the entrance to the city of Kochi. Due to its strategic position at the intersection of highways and being an emerging retail centre, the area is considered a prime location for investment in Kochi. Here are the reasons that make Edappally a valuable destination for investment in Kochi.   Junction of highways – The 2 national highways join the Kochi bypass at Edappally.   Kochi Metro – The Kochi Metro station makes the area a prime location by making it accessible from various locations in the city.   Shopping hub – The most happening places in the city like Oberon mall LuLu mall are located at Edappally.   Close proximity to educational institutions – Amrita Institute of Medical Sciences, Amrita School of Arts and Sciences, Government Vocational and Higher Secondary School, Bhavans Elamakkara, etc. are at nearest location from Edappally. Melonwood homes one o
Read more