As the old adage says, if it sounds too good to be true, it probably is. Don’t let greed blind you to various real estate frauds that have taken place in the Gurgaon area. There are many new residential projects in Delhi NCR where you can buy at a good price and make money long term. But you still need to protect yourself.
Here are some of the things to watch out for. In some cases, there are lengthy delays in the completion of projects and the delivery of the property to the purchaser. There are also cases where projects are sold but the proper licenses haven’t been obtained. You should have a lawyer check these things before purchasing. It is much easier to get things straightened out in advance than it is once you have completed the transaction.
Regarding lawyers don’t just use a friend. You wouldn’t want a foot doctor doing brain surgery on you. The law has specialties too and you want a lawyer who deals with real estate all the time. A good title company is important too. They can check that the chain of title is valid. Make sure you get title insurance as well. It is not expensive and then the title company takes the risk, not you.
Another problem is that some developers promise one thing and then change the specifications of the flat on delivery.
New laws and more government oversight though is starting to make a difference and make it a good investment again to purchase new residential projects in Delhi NCR. Just do your due diligence.