Know Your Rights As A Home Buyer

Posted by Chandak Group on December 1st, 2019

Do you dream of owning a luxurious 4 BHK in Goregaon or an Apartment in Goregaon West with your name board? Well, you are not alone. While it is quite an exciting phase when you start searching for properties, one of which will be your dream home, there are also some legal aspects that you need to be aware of. Many times, buyers ignore these.

Buying a home involves putting your lifelong earnings on the line. We make sure that all the important things are taken care of including convenience, comfort, tranquility, amenities, etc. Do you know that the government has introduced certain laws and procedures in favor of consumer's interest? As simple as it may sound, as a consumer one must be aware of this nitty-gritty of the trade.

If you are considering buying a 3 BHK Flats For Sale in Goregaon West, or Apartments in Goregaon West, thendon't miss to learn about your rights as a homebuyer.

1. Right to be informed

As a home buyer, you have the right to get the details regarding the plans, the builder's approval and legal sanctions, the details of the layouts and approval obtained by the builder from the respective government departments. It is the responsibility of the builder to share these documents with you at the time of confirming the booking. If that does not happen, make sure you ask for these documents and references to verify the authenticity of the project. If you are looking for a 2 BHK flat in Goregaon West, 3 BHK Flats for Sale in Goregaon West or a 4 BHK in Goregaon, Chandak Group Stella would be a good option to consider.

2. Construction Schedule

The stage-wise development of your dream home should be a part of the sale agreement between you and the builder. Not only that, but it should also contain the details regarding the payments to be made, the provisions and amenities that are agreed between the builder and you while booking your apartment in Goregaon West. In case of any legal complications in the future, this document would come handy.Make it a point to understand and comprehend all the points mentioned in the agreement to check for any loopholes.

3. Right To Refund

Sometimes, your dream can also become a nightmare depending on the builder we choose. There have been several instances in the past where the construction stops in the middle or doesn't go upto completion and handover. In such cases, know your rights.The National Consumer Dispute Redressal Commission (NCDRC) has confirmed that the buyer has all rights to withdraw from a project, and can also claim for refund and interest, if the date of handover exceeds over a year, as promised by the builder. This means, if your 4 BHK in Goregaon is not delivered within the stipulated time, you can claim for a refund of the entire amount along with interest.

4. Possession Rights

As an owner of 3 BHK flats for Sale in Goregaon West, you are entitled to claim for possession of your apartment. Also, an association of homebuyers is entitled to claim their possessions for common areas such as parking lots, lobbies, etc.Chandak Group is among the most buyer-friendly builder in Mumbai who promises transparency and clarity in all the documents and dealings.

5. Right For Inspection

We are spending a lifetime earning on buying a 2 BHK Flat in Goregaon West, we need to be sure that the builder is building a quality home for that. Time and again we as home buyers are entitled to site visits to ensure that the construction is happening as per the plan and schedule. Make use of this option judiciously to keep a tab on the builder.

6. Project Delays

Some projects may get delayed due to unforeseen reasons. In such cases, the owners may not wish to withdraw from their ownership and may wait until the completion of the project. In such cases, the developer is entitled to interest payment over bank loans for the delayed period, which is as per agreement. However, this is applicable only for projects under construction.

7. Structural Defects

Assume that you have taken possession and at the time of renovating your home you find some structural defects like misplaced bricks, leakages, etc. you are entitled toget them repaired or restructured by the builder — free of cost for 5 years from the date of possession. In case of a delay by the seller for more than 30 days for rectification, you are entitled to compensation as well.

Owning a home may not be the easiest thing. But we do have laws and procedures that come to our support when needed, provided we are aware of them. Choose the builder and property wisely so you don’t have to be bothered about these things. Most importantly know what to do and when to do. Hope you find your dream home soon.