In this new age of RERA as the watchdog on the back of developers what has changed & empowered consumers in last couple of years is resolution of unkept promises for the consumer who can now effectively exercise his right to get what he had signed up for when he had chosen to purchase an under-construction property.
We at Black & White Aventura in capacity of consultants over the last 10 years have been present with our customers during the key handovers to help them realise that ‘teething issues’ start creeping up once the keys are taken to only realise a big mistake on their part of having not done proper due diligence while taking the handover from the developer.
We believe it is in the financial interest of the consumer to be educated on this and hence we with our years of research and learnings we plan to share this knowledge with our readers. Treat this as a starting guide not just limited to the suggestions as hand as every project is different and so are the circumstances of an end consumer taking possession of his brand new property.
The important thing is an aware mind that later does not repent of not having researched, especially first time home buyers
Sample ‘Teething Issues’
(some examples of why this checklist is God Sent and you must read the whole thing)
- Missing Air conditioner remotes
- Broken Glass Windows
- Uneven Tiles in Washroom & Balconies
- Pending Utility Bill
- Broken Ceramics in Washroom
- Leakage in the Walls
Small things can give you sleepless nights if not taken care of
Three Guiding Principles
(Broadly you must remember these, we shall elaborate on them in just a minute)
- First for all it is Important to understand what was promised to what is being delivered.
- What is the breakup of possession charges [note these are other charges]
- Validation of local issues from Future To Be Social Circle
What was promised to what is being delivered.
- Timelines promised in the registered agreement for possession dates and penal rent compensation incase of breach.
- Carpet Area of the flat (measure with laser measurement tape) to establish promised delivery of size of flat. Please note adhere to new carpet area norms now stated in RERA if the project is delivered post June 2017 and is RERA registered.
- Amenities and Furnishings promised in the registered agreement/allotment letter/brochure
- White Goods e.g. Airconditioners [ Warranty Cards, Remotes and Installations Durability]
- Bathroom & Room Fittings ( Toiletries & Wooden Flooring e.g. Engineered Wood)
- Main Entrance Door, Servants Door and Keys to every Door in the House
What was defined as other charges at the time of possession
- Advance maintenance charges for 1 year, 1.5 years or 2 years
- Property Maintenance Contract of 5 years from the date of possession as mandated by RERA
- Corpus Fund & Applicable Interest Rate being charged. This corpus fund
- Policy on 1st Transfer in terms of ‘Transfer Fee’ charged by the developer incase you plan to sell the home in near term
- The time horizon to form a Society in the Project and timelines for its handover. Are legal charges already covered here.
- Status on Property Tax provisioned or paid from advance Maintenance. What are the amounts
Validation of local issues from Future To Be Social Circle
Sync up with atleast 3 neighbours/brokers who are actively participating in possessions, they will open up issues during an audit as they have faced these issues specific to the project and can really make your discovery of such challenges very easy. The best way to meet them is in the club house on weekends as they are generally found to be hanging out.
Let’s recap this quickly
- Please check and check and check (yes check atleast thrice) – furnishings to be provided by the developer. Check for fittings in washroom, drain and exhaust lines, cabinet doors, hot water systems etc.
2. Check for security measures. As we enter a newly ready complex, it is still a “semi” construction site. You can easily find vendors, construction workers doing their job at the site. They know easy ways to enter the building, bend rules (in a positive way) to get their work done. So we have to be careful and alert.
3. Utility meter reading, Air conditioning system and their warranties. We tend to overlook them and sign the possession letter from the developer. Better to get clarity and look what was promised in our agreement with them.
4. Importantly, look for neighbours. Love neighbours as thyself. You have many of them. They are your companions in the problems. They may have some solutions.
Incase you have some apartments and facing some teething issues, please do let us know. Like your neighbours above, broking firms such ours keep assisting and solving such issues. We are happy to help. My next article will be on some issues we have faced while relocation of licensee and owners in complexes and how we overcame them