Flat Buying Checklist

Here is a checklist to go through before buying a flat. Hope is helpful for someone

1. The Financials & Paperwork

   • Construction-Linked ONLY: Never pay full price upfront, no matter the "discount." Release payments only as floors rise.
   • Full EMI from Day 1: Don't opt for "Pre-EMI." You’ll end up paying interest for years without touching the principal. Start the full EMI immediately to kill the debt faster.
   • The Refund Letter: When giving the booking cheque, attach a covering letter stating it's 100% refundable if your lawyer finds issues with the paperwork or the "Agreement to Sell." Get this acknowledged.
   • Penalty Clause: Ensure there is a clause for "Liquidated Damages." If they delay delivery, they pay you a fixed amount (e.g., ₹5 per sq. ft.) per month.

2. Evaluating the Layout

   • Ignore the "Sample Flat": These are "makeup-heavy." Look at an empty/raw flat to judge actual space. The furniture in sample flats is often scaled down to make rooms look bigger.
   • The "Sun/Wind" Test: * West-facing: Will be a furnace in the afternoon.
   • Cross-ventilation: Check if the breeze actually moves through the rooms or just hits a wall.
   • Carpet vs. Super Built-up: Always calculate the price based on carpet area. Builders often pad the "Super Built-up" by 30%+.

3. The Pre-Possession Inspection (PDI)

   • Carry a Tape Measure: Rooms often "shrink" during construction. If the sq. footage is less than the drawing, demand a proportionate refund before final settlement.
   • The Leak Check: Look for dampness/black patches in corners. If there’s a leak from the flat above now, it’ll be a nightmare later.
   • Snag List: Check every switch, tile, and tap. Most builders give a 6-12 month "warranty" post-possession—get all fixes done before you move in.

4. The Reality Check

   • Reputation Matters: Buy from builders who have a track record of finishing. "Cheaper" under-construction projects from unknown names are a gamble.
   • Commute: Don't believe the brochure's "5 mins from IT park." Test the drive yourself at 9 AM and 6 PM.