Buyer’s Guide to B-17 Property

A disciplined process is more valuable than a rushed “deal.” Use the following steps for plots, houses and commercial property.

1. Define the requirement

Set a total budget including transfer charges, taxes, commissions, outstanding dues and possible construction or renovation.

2. Compare the exact location

Shortlist by block, possession, access, road width, plot orientation, terrain, amenities and actual neighbourhood activity.

3. Verify documents

• Seller identity and authority to sell
• Allotment, transfer and ownership record
• Plot number, size, category and location
• Outstanding dues, charges or restrictions
• Applicable approval and NOC position for the exact property/project

4. Inspect independently

Visit the site and engage qualified legal, tax, engineering or valuation professionals where appropriate.

5. Use traceable payments

Do not pay solely on verbal assurances. Make payments only after verification, under written terms, through properly documented channels.

Questions to ask

Why is the owner selling? Is possession available? What was the latest comparable transaction? Are utilities connected at this street? Which costs are payable by each party?