Buying property on a file — before physical possession — is common practice, but it rewards buyers who do a little homework first. Here are five things worth checking before you sign anything.
1. Development authority approval. Ask which authority has approved the scheme's layout plan, and at what stage the approval currently stands (No Objection Certificate, layout approval, or final development approval).
2. The exact payment schedule. A good developer will hand you a milestone-based plan — downpayment, confirmation, slab-wise instalments, and possession — with amounts and rough timing spelled out, not a vague promise.
3. What's included in the price. Confirm whether the quoted price covers grey structure only, or finishing as well, and what happens if construction milestones slip.
4. Transfer and documentation process. Understand how the file is transferred into your name, what documents you'll receive at each stage, and what the possession/handover process looks like.
5. The neighbourhood's current development stage. Visit the site if you can — check road access, utility availability, and how much of the surrounding phase is already built or occupied.
None of this replaces your own independent legal and financial advice — but asking these questions upfront saves a lot of back-and-forth later.
