I’m planning to buy an apartment plot in Electronic City. The builder says it’s BMRDA approved and has around 60 units. Do I need to verify the approvals myself, or can I trust the builder since almost all the plots are sold out and top banks are giving loans? If you recommend verification, could you please share a checklist for legal checks?

Apni Law
Apni Law
Law Forum › Category: Property › I’m planning to buy an apartment plot in Electronic City. The builder says it’s BMRDA approved and has around 60 units. Do I need to verify the approvals myself, or can I trust the builder since almost all the plots are sold out and top banks are giving loans? If you recommend verification, could you please share a checklist for legal checks?
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Apni Law Staff asked 2 years ago

I’m planning to buy an apartment plot in Electronic City. The builder says it’s BMRDA approved and has around 60 units. Do I need to verify the approvals myself, or can I trust the builder since almost all the plots are sold out and top banks are giving loans? If you recommend verification, could you please share a checklist for legal checks?

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Best Answer

Apni Law Staff answered 2 years ago

While the builder’s claim of BMRDA approval and bank loans may seem reassuring, it is crucial to verify the approvals yourself. You should conduct independent legal due diligence, including checking the land title, building plan approval, and environmental clearances.

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