Things to Consider Before Buying an Under-Construction Property

Whether in Chembur, Wadala, or Ghatkopar, purchasing an under-construction house in Mumbai can provide more affordable costs, contemporary conveniences, and adjustable payment plans. It does, however, have a unique set of hazards and considerations that should be carefully considered.

This is your must-have list before making a reservation for a house that is still under construction:

1. Registration under RERA

Verify the project’s MahaRERA registration.
Verify the approvals, layout plans, and possession date.

Avoid projects that are not registered with RERA, as they are a warning sign.

2. Builder Track Record & Reputation

Examine the builder’s past performance to determine delivery schedules and quality.
Examine reviews and previous finished products.

In Chembur, builders with solid reputations include Godrej, Veena, and Tridhaatu.

3. Timeline & Stage of Construction

Early-stage initiatives are riskier yet provide cheaper rates.
If you want to see development more clearly, pick mid-stage projects.

Add a buffer period of six to twelve months above the anticipated possession time because delays are frequent.

4. Legal Clearances

Verify the environment clearance, fire safety NOC, building plan permission, etc.
Request a Certificate of Commencement (CC).

5. Built-Up vs. Carpet Area

Examine the available carpet area against the actual usable area as determined by RERA.
Steer clear of being duped by overly inflated stats.

Always request a unit plan with the carpet area specified clearly.

6. Cost Sheet & Payment Schedule

To prevent financial strain, choose plans related to construction.
Keep an eye out for hidden fees related to upkeep, GST, parking, floor raise, etc.

7. Future Infrastructure & Connectivity

Take into account accessibility to roads, metro lines, and future infrastructure.
MTHL and Metro Line 2B are advantageous for projects in Wadala and Chembur.

8. Exit Options & Delay Clause

Examine the penalty provision if possession is delayed.
Recognise transfer fees and refund procedures if you intend to leave before finishing.

Conclusion

Although they require careful screening, under-construction residences have significant price and customisable advantages. Every aspect counts, from RERA compliance to builder repute.

Our area of expertise at Upgrade Realty is under-construction developments in Mumbai. We guarantee site visits, complete legal due diligence, and clear cost sheets so you may confidently reserve your ideal property!