STEPS INVOLVED IN PURCHASING A PROPERTY

• IDENTIFYING THE SPACE NEEDED
• IDENTIFYING THE BUDGETARY PROVISION TO BUY THE PROPERTY
• IDENTIFYING THE LOCATION OF INTEREST
• IDENTIFYING & SELECTING THE MEDIA SUCH AS REALTY BROKERS, NEWSPAPER ADVERTISEMENTS, ARTICLES, INTERNET, ETC FOR LOCATING DIFFERENT NEW AND OLD PROPERTIES
• IDENTIFYING DIFFERENT PROPERTIES OF INTEREST
• MAKING PREMINARY VISITS TO THE PROEPRTIES OF INTEREST
• SHORTLISTING PROPERTIES DEPENDING UPON THE FOLLOWING FACTORS
  LOCATIONAL ADVANTAGE
  BUDGETARY PROVISIONS
  SIZE OF THE FLAT
  PLANNING OF THE FLAT
  OVERALL LAYOUT OF THE PROJECT
  AMENITIES PROVIDED WITHIN THE FLAT
  AMENITIES PROVIDED WITHIN THE PROJECT
  REPUTATION OF THE DEVELOPERS
  STAGE OF THE PROJECT
  COMPLETION PERIOD OF THE PROJECT
  AVAILABILITY OF BANK LOANS FOR THE PROJECT
• SELECTING A PROPERTY
• FINALISING THE PRICE AND THE TERMS AND CONDITIONS WITH THE DEVELOPERS
• MAKE NECESSARY PROVISIONS FOR THE PAYMENT
  A) PERSONAL CONTRIBUTION
  B) BANK CONTRIBUTION
• APPLY FOR THE SANCTIONING OF THE BANK LOAN
• OBTAIN SANCTION LETTER FROM THE BANK
• STAMPING AND REGISTRATION OF THE FLAT SALE AGREEMENT AGAINST THE INITIAL PAYMENT
• SUBMIT THE FLAT SALE AGREEMENT AND COMPLY WITH THE BANK CONDITIONS TO AVAIL OF THE BALANCE PAYMENT
• MAKE THE FULL AND FINAL PAYMENT TO THE DEVELOPERS AND OBTAIN THE POSSESSION LETTER
• TAKE POSSESSION OF FLAT
• ENROLLMENT AS MEMBER OF THE SOCIETY TO BE FORMED, SHARE CERTIFICATE