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Frequently Asked Questions
- What kind of charges/taxes is mandatory at the time of purchasing property?
In addition to the price of the property, the buyer needs to pay the GST, Registration Fee, Stamp Duty while buying a property.
- What documents and formalities are required while buying property?
Real Estate Regulatory Act (RERA) has made it easier to check the documents while buying property. If the project has RERA Number, all details like approved maps, number of floors, parking space, payment status against land, open area, green area, fire fighting, environment, height, pollution NOC, possession date etc can be checked at https://www.up-rera.in
- Things you should check at the time of signing the agreement?
Before signing the builder buyer agreement, the buyer should check the details like base price mentioned, additional charges like PLC, club membership, carpet area along with facilities, taxes applicable, payment mode, occupation certificate, building insurance, schedule of possession and penalty clause in case of project delay.
- What should a consumer keep in mind while purchasing a house?
There are many factors to be considered at the time of property purchase like the locality or the area of the home, whether all the basic and civic utilities are available, transport facilities, construction quality, the carpet, built-up and super built-up area of the flat, provisions of basic features like water and power supply, and most importantly, reputation of the developer.
- What is stamp duty?
Stamp duty refers to the tax paid to the government and should be paid on time and in full. A stamp duty paid document is an important and legal instrument to be taken care of.
- How can a buyer be protected if the project is delayed?
The buyer is entitled to get the delayed penalty as per the builder buyer agreement issued in the format prescribed by RERA.
