Before buying a property, you should look at the sanctioned layout plan, building plan, ownership documents, etc. As all these procedures are very hectic and require a lot of legal probings, it is prudent to contact an advocate for further advice.

You should check the approved plan of the building along with the number of floors.

Make sure that the floor you are purchasing is authorized.

You should check that either the builder owns the land on which he is building, or he has initiated an agreement with a landlord.

Check if the builder is constructing without any violation of front setbacks, side setbacks, height, etc.

Verify that all the features given in the agreement to sell are followed by the constructor or not.

Check the influence of the builder in the market.

Ensure that urban land ceiling NOC, NOC from water and electricity authorities, lift authorities has been obtained or not.

Appreciation: Real estate has long-term, exponential growth in value.

Tax Saving: Property tax benefits and other incentives

Equity: Money paid for rent is money that you will never get back, but loan payments let you build your house

Savings: Building integrity in your home is a convenient savings plan. Unlike rent, your fixed-loan payments do not increase over the time, so your housing costs may decrease as you own the home longer.

No, Service Tax is not applicable for Ready Possession property. It is applicable only for the property under construction.