Exercise Caution – Use Your Best Judgment
For your safety and security, we strongly advise all users to exercise due diligence when assessing the authenticity of properties and their owners. Claims made on our platform may or may not be accurate, and it is the user’s responsibility to verify these independently. To assist you in this process, we have compiled a checklist to help avoid potential fraud. We highly recommend that all users review this checklist before purchasing or renting a property.
Tips to Avoid Real Estate Fraud
- Meet in Person: Never transfer money online via UPI, net banking, debit/credit cards, etc., to a “supposed landlord/owner” without meeting them personally.
- Avoid Advance Payments: Do not pay for property visits, gate passes, booking fees, or similar charges over the phone.
- Verify Ownership: If a broker is showing you the property, ensure you meet the actual owner in person or via a verified online session.
- No Broker Payments: Do not hand over any portion of the rent or sale consideration to brokers.
- Check Land Titles: Be cautious of properties with disputed titles.
- Beware of Unrealistic Promises: Be skeptical of investment opportunities promising high returns with little or no risk.
- Inspect the Property: Personally visit the property to evaluate its interior and exterior condition.
- Review Photos: Choose properties with clear images of key areas like bedrooms, bathrooms, and kitchens.
- Research the Neighborhood: Familiarize yourself with the area before moving in.
- Talk to Neighbors: Confirm with neighbors that the person showing the property is the rightful owner.
For Buyers/Investors
Buyers are encouraged to thoroughly investigate and authenticate the property, including its title, built-up area, and suitability for purchase, at their own expense.
As an advertising platform, [YourWebsite.com] cannot guarantee the authenticity of the content uploaded by advertisers. We do not filter or verify this information. However, we take remedial measures if a complaint is reported.
Important Checks for Buyers:
- Verify Ownership: Conduct thorough checks to confirm the developer’s or owner’s credentials.
- Visit in Person: Personally inspect the project site or property to ensure it is not fictitious.
- Check Builder Reputation: Opt for builders with a proven track record and review the promoters’ history.
- Review Title Documents: Be cautious of forged documents. Properties may have undisclosed loans or legal disputes.
- Conduct Due Diligence: Always perform comprehensive due diligence before finalizing any real estate transaction.
- Understand FSI/FAR: Remember that common areas like lobbies, parks, terraces, pools, gyms, and elevators are not included in the Floor Space Index (FSI) or Floor Area Ratio (FAR).
- Know the Law: Be aware of the Real Estate (Regulation and Development) Act, 2016, and its relevant provisions.
For Tenants
Key Points to Consider:
- Meet the Landlord: Always visit the property and meet the landlord in person.
- Avoid Pre-Visit Payments: Never pay for property visits, gate passes, booking fees, or similar charges.
- Inspect the Property: Check all rooms, including kitchens and bathrooms, for issues like leaks, seepage, and clogged drains.
- Verify Security Deposits: Research typical security deposit amounts in the area to avoid overpayment.
- Assess Safety: Ensure the property provides adequate access, safety, and security.
- Check Measurements: Confirm that all property dimensions are provided in standardized units.
Following these guidelines will help you make informed decisions and avoid potential fraud in real estate transactions.
