1.MahaRERA Registration Verification
Since the enactment of the Real Estate (Regulation and Development) Act in 2016, property registration has become mandatory for all developers. For both residential and commercial projects the Developer must make available all project details online so that the buyer has access to comprehensive information about the property. This transparency empowers buyers to verify all associated information and documentation, reducing post-sale complications.

2.Assessment of Developer’s Credibility
Trustworthiness is paramount when evaluating a developer. Opt for reputed developers with a longstanding presence in the real estate sector and a strong record of successful project delivery in a timely manner. Financial stability is also essential to ensure uninterrupted construction progress and safeguard your investment. Conducting a quick search online will also tell you if the developer has any pending legal issues or consumer complaints.

3.Changes in sanctioned plans
According to RERA guidelines, any alterations to the sanctioned plan or layout plans require buyer’s consent. Before committing to a project, carefully review the printed details mentioned in the project’s brochure, emails, etc., shared with you and ensure this is mentioned in your Agreement as well. Developers can only propose modifications with valid reasons, subject to approval by at least two-thirds of buyers. 

4.Payment schedule and options
The model agreement prescribes a detailed payment schedule that all Developers must follow for under construction projects. The Buyer is only supposed to pay as per the defined payment schedule. By doing this, the Developer is assured of timely payments towards his ongoing work and the Buyer is assured of making payments as and when the project reaches a certain milestone.

5.Bank Loan Eligibility
Ensure that the under-construction property is approved for loans by reputed Banks, simplifying the financing process. The property must possess clear and marketable title for the Banks to approve it. This minimises the risks for both buyers and lenders.

6.Verification of Approvals
A Buyer must verify that the Developer has obtained all necessary approvals such as:

a) Conversion and Land Use Permissions – Approval for conversion of a property for non-agricultural use and ensuring that the land is being developed as per the approved zoning plan such as residential, commercial, etc.
b) Layout approvals – The concerned authorities must approve the layout plan of the project, for e.g., number of buildings, amenities, open areas, etc.
c) Intimation of Disapproval (IOD) – This is basically building permit approving the proposed building plan subject to some conditions like obtaining a list of “no-objection certificates” (NOCs) from various departments and government authorities such as, Environmental Department, Sewerage Department, Tree Authority, Fire Department, etc.
d) Commencement Certificate (CC) – This is basically the permission to commence construction and is issued once all conditions mentioned in the IOD are met. Note that the CC can be obtained in stages so a Buyer must ensure that the Developer has the CC for the floor she is looking to purchase.
e) Occupation Certificate (OC) – This is issued only once the Developer has constructed the building as per the approved plans. In case of under construction projects, this is issued after the Agreement has already been registered.