Documentation is King
Occupancy Certificate: This is your proof that the building is built according to approved plans and meets all regulations. Don’t accept handover without it!
NOCs (No Objection Certificates): These are essential for utilities like water, electricity, and fire safety. Make sure the builder has them in hand.
Building Plans and Specifications: Having these on file helps you understand the building’s design and identify any potential issues.
Facility Management: Your Building’s Guardian
Choose Wisely: Select a reputable facility management company to handle maintenance and repairs. They’ll be your eyes and ears on the ground.
Snagging Process: This is a crucial step where the FM company identifies any defects or unfinished work before the handover. Don’t let the builder off the hook!
Utilities and Maintenance Charges
Transfer of Connections: The builder is responsible for transferring electricity, water, and other utilities to the resident association. Ensure this happens smoothly.
Maintenance Charges: Negotiate clear and transparent maintenance charges before the handover. This covers everything from common areas to essential services.
Amenities: Making Sure You Get What You Paid For
Verification: Double-check that all promised amenities, like swimming pools, gyms, and clubhouses, are in working order and meet the agreed-upon standards.
RERA Compliance: The builder must comply with the Real Estate Regulation and Development Act (RERA), ensuring basic maintenance services are provided.
Resident Association: Your Voice in the Building
Form Early: Establish your resident association (RWA) as soon as possible. This gives you a platform to communicate with the builder and manage the handover process.
Dedicated Accountant: Consider hiring a dedicated accountant to manage maintenance charges and ensure financial transparency.