1. Is the Project Registered with MahaRERA?
This is the most critical first step. The Real Estate (Regulation and Development) Act, or RERA, is designed to protect homebuyers. All redevelopment projects that involve selling flats to new buyers must be registered with the Maharashtra Real Estate Regulatory
Authority (MahaRERA). Registration ensures a level of transparency and accountability. You can visit the MahaRERA website to verify the developer's claims, check the project's legal status, and see the proposed completion date. A project not registered with MahaRERA is a major red flag, exposing you to significant financial and legal risks.
2. What is the Developer’s Track Record with Redevelopment?
Not all developers are experts in redevelopment. These projects are far more complex than building on vacant land, as they involve negotiations with existing society members, handling temporary relocations, and navigating a web of specific approvals. Ask the developer for a list of their completed redevelopment projects. If possible, visit one of their finished sites and speak to the residents about their experience. Enquire about timelines, quality of construction, and whether the promises made were delivered. A developer with a proven history of successful redevelopments is a much safer bet.
3. Are All Legal Titles and Approvals in Place?
Do not rely on verbal assurances that approvals are 'in process'. Before you book, ask to see hard copies of essential documents. This includes the property's title deed to ensure the land is clear of any ownership disputes. Crucially, you must verify the Intimation of Disapproval (IOD) and the Commencement Certificate (CC) from the Brihanmumbai Municipal Corporation (BMC). The CC is the legal permission to start construction; without it, any work on site is illegal. Also, check the approved building plans to ensure the flat you are being sold matches what the authorities have sanctioned.
4. What is the Status of the Original Society's Agreement?
A new buyer's rights in a redevelopment project are linked to the health of the agreement between the developer and the original housing society. Ask for a copy of the registered Development Agreement. This document outlines the developer's obligations to the existing members, including timelines, transit rent, and the corpus fund. Any dispute or non-compliance on that front can stall the entire project, directly affecting you. Ensure that the required consent from society members (now 51% in many cases) was properly obtained and documented.
5. What is the Exact Carpet Area Being Offered?
Property listings often use terms like 'built-up area' or 'super built-up area', which can be misleading. RERA mandates that developers sell homes based on carpet area—the actual usable space within the walls of your flat. Get the exact carpet area in writing in your allotment letter and sale agreement. Compare this with the floor plan submitted to MahaRERA to ensure there are no discrepancies. This simple check prevents you from paying for space that you will never get to use.
6. What is the Firm Possession Date and Penalty for Delays?
Project delays are one of the biggest risks for homebuyers, potentially leading to financial strain. Your agreement must specify a firm date for possession. Check what the penalty clause says in case of a delay. Under RERA, developers are liable to pay interest for every month of delay, but having this clearly stated in your agreement provides an added layer of protection. Link your payment plan to construction milestones rather than just dates to reduce your financial exposure if the project stalls.
7. Are There Any Hidden or Additional Charges?
The price quoted for the flat is rarely the final amount you pay. Ask the developer for a complete cost breakdown. This should include charges for Goods and Services Tax (GST), stamp duty, registration, and any other fees for amenities, parking, or maintenance deposits. Reputable developers will provide a transparent schedule of payments with all costs clearly listed. Getting this in writing prevents last-minute surprises that can throw your budget off track.
8. What is the Plan for the Occupancy Certificate (OC)?
The Occupancy Certificate (OC) is a crucial document issued by the BMC after the building is completed according to all approved plans and is deemed fit for habitation. Living in a flat without an OC is illegal and can lead to problems with water and electricity connections, and difficulties when you try to sell the property later. Ask the developer about their timeline for obtaining the OC and ensure it aligns with the possession date. A developer's commitment to securing the OC is a sign of a legally compliant project.
