Thinking to buy a new property? Things to look for in the booking agreement

Thinking to buy a new property? Things to look for in the booking agreement


Here are few points which home buyers should also look for in the booking agreement before buying a flat. These points are over and above well known check list like – land should be NA, necessary permissions from authorities, sanctioned layout, etc.

1. Is carpet area of the flat, terrace mentioned in the agreement? How is the salable/built-up area calculated?
e.g. (25% loading on carpet area of flat) + (50% of terrace). For 1000sqft carpet of flat with 200 sqft carpet terrace, salable area is (125% of 1000) + (50% of 200) = 1250 + 100 = salable area 1350 sqft.
Or is it : 25% loading on (carpet of flat + 100% of terrace) = 25% loading on (1000 + 200) = 1500 sqft. That’s 150sqft (11%) more salable area for the same carpet area. Just a calculation trick.




2. Will the builder form a co-op society or association of apartments? Does booking agreement mention this clearly? Forming co-op society is in favor of buyers.


3. Does the agreement mention list and specifications of amenities? E.g. solar, swimming pool, club house, tennis courts, children’s play area, fencing etc. If not, you may not get some or may get of amenities with sizes shrinked – for tick mark only.


4. Is date of possession mentioned in the agreement? What if possession is delayed – when delay is not caused on the part of buyer?


5. What will be size of parking lot?

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