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Property Title - Has the land been properly acquired? Does the developer have the legal rights? What will it be used for?
Many cities designate certain land parcels as commercial, residential, as a Coastal Regulation Zone (CRZ) or for purposes other than real estate development. Verifying that the land under development is properly designated is critical to avoid issues later on relating to FSI, violation of zoning laws or wrongful use of land.
Are all approvals in place?
Financial concerns - What are the finance schemes and banks associated with the projects? What is the payment plan?
It is important to verify the financial schemes offered by the developers as well as the banks associated with them who will finance these. A healthy track record between the two is beneficial to buyers as well.
Also confirm whether the payment plan is a construction linked (CLP) one or possession linked one (PLP). With CLP you pay as construction of each floor is completed whereas with PLP you 20-25% while booking and the rest on possession.