Buying a flat in Under Construction Project can be linked to the Indian psychology of buying a "NEW". Under Construction Project is a high risk investment as the legal status is yet to be established. It also co-relate to the fact why prices are low during the pre-launch offer. At this stage, nothing is in place. In fact, in many cases builders sold the flats even before he signed the joint development agreement with land owners. I highlighted pros and cons of Resale Flat and Under Construction Project in my post on Resale Flat of Under Construction Flat, Which is better?. It is imperative to ... Read More
Encumbrance Certificate
Encumbrance certificate or most popularly known as EC is one of the most critical document for property purchase. In my post on Checklist of Property Documents i briefly discussed about EC but considering the importance of same, it deserves a separate post. Encumbrance Certificate certify that there are no dues on property both Mortgage and Legal & the title of the property is clear and marketable. It contain all the transactions in respect of the said property. Encumbrance is basically a Charge / Liability / Lien which is created on the property, which is held as a collateral or security ... Read More