Property Buyer Must Ask: Are All The Approvals in Place?

Question: Are all the approvals in place?

Ask the developer / promoter for the licence, which is proof that he has obtained permission from the areas town planning authority to develop the project.

Every licence has a unique number. Developers / promoter who have obtained the licence often print the licence number in their ads.

Also ask whether the developer / promoter has received the following approvals:

1. Building plan

2. Water  clearance

3. Environment  clearance

4. Pollution  clearance

5. Height clearance (if the building is situated near an airport).

Often, when clearances have not been obtained, the developer makes optimistic projections that he will get them within, say, six (6) months.In reality, delay in getting clearances is one of the chief causes of project delays, says Mr. Rajan Ahuja, Director, Realty & Verticals, a Gurgaon-based realty consultancy.

Src: ET

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