I want to purchase a flat in Delhi-NCR and want to know what are the things I should be asking the seller. What should I keep in mind and what should I be aware of when buying a flat so that I don’t regret the decision later. I will have a broker, of course, but I want to make sure that I am not cheated or I don’t make the wrong decision. Can you help me? - Abhay Kumar (Delhi)
Buying a flat in Delhi NCR is a big decision, and it is important to do your due diligence before making an offer. This guide will outline the key checks that you should carry out with the property seller and others, in order to protect yourself and ensure that you are making a wise investment.
| Residential property prices in Delhi-NCR surged significantly over the past 5 years. – Financial Express (August 8, 2023) |
Table of contents [Show]
Legal Checks
The legal checks are arguably the most important, as they will help to ensure that the property is free from any legal issues.
| Title deed | The title deed is the most important document that proves the ownership of the property. Make sure that the title deed is in the seller's name and that there are no encumbrances on the property. |
| Encumbrance certificate | An encumbrance certificate is a document that lists all the legal charges against the property. Make sure that there are no outstanding loans or dues against the property. |
| Completion certificate | The completion certificate is issued by the local authorities to certify that the building has been constructed according to the approved plans. Make sure that the building has a valid completion certificate. |
| Occupancy certificate | The occupancy certificate is issued by the local authorities to certify that the building is safe and habitable. Make sure that the building has a valid occupancy certificate. |
| No-objection certificate | A no-objection certificate is issued by the local authorities to certify that there are no objections to the sale of the property. Make sure that the seller has obtained a no-objection certificate from the local authorities. |
| Delhi-NCR real estate will experience exponential growth in 2023 – The Times of India (April 15, 2023) |
Physical Checks
The physical checks are also important, as they will help you assess the condition of the property and identify any potential problems.
Inspect the property |
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| Check the amenities |
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| Check the surroundings |
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| The top emerging real estate locations in Delhi include Rajouri Garden, Chattarpur, Rohini, Saket, Dwarka, Lajpat Nagar, Greater Kailash, MG Road, Janakpuri, and Uttam Nagar. – Magicbricks (Nov 26, 2022) |
Financial Checks
The financial checks are important to ensure that you are getting a good deal and that you can afford the property.
| Check the price |
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| Check the payment terms |
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| Check the documentation |
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| Delhi-NCR continues to be the top-ranked destination, clocking 56 percent of the total properties bought. – MoneyControl (August 5, 2022) |
Prices in Delhi-NCR area
Here is a table of flat prices in different areas of the Delhi-NCR area in January 2023:
Locality | Delhi Property Rates Per Square Feet (₹) | 1 BHK Flat Rates In Delhi (₹) | 2 BHK Flat Rates in Delhi (₹) | 3 BHK Flat Rates In Delhi (₹) |
| C R Park | 13,470 | 40L – 67L | 74L – 1.21Cr | 1.27Cr – 2.02Cr |
| Gulmohar Park | 27,000 | 81L – 1.35Cr | 1.48Cr – 2.43Cr | 2.56Cr – 4.05Cr |
| Dilshad Garden | 7,300 | 21L – 36.50L | 40L – 65.70L | 69L – 1.09Cr |
| Greater Kailash I | 20,200 | 60.60L – 1Cr | 1.11Cr – 1.81Cr | 1.91Cr – 3.03Cr |
| Greater Kailash II | 18,000 | 54L – 90L | 99L – 1.62Cr | 1.71Cr – 2.70Cr |
| Green Park | 19,600 | 58.80L – 98L | 1.07Cr – 1.76Cr | 1.86Cr – 2.94Cr |
| Vasundhra enclaves | 9,100 | 27L – 45.50L | 50L – 81.90L | 86L – 1.36Cr |
| Vikas Puri | 9,750 | 29.25L – 48.75L | 53L – 87L | 92L – 1.46Cr |
| Hauz Khas | Rs. 19,000 | 57L – 95L | 1.04Cr – 1.71Cr | 1.80Cr – 2.85Cr |
| I P Extension | 10,900 | 32.70L – 54.50L | 59L – 98L | 1.03Cr – 1.63Cr |
| Jangpura | 16,600 | 49.80L – 83L | 91L – 1.49Cr | 1.57Cr – 2.49Cr |
| Jangpura Extension | 21,000 | 63L – 1.05Cr | 1.15Cr – 1.89Cr | 1.99Cr – 3.15Cr |
| Jor Bagh | 48,500 | 14.55L – 24.25L | 2.66Cr – 4.36Cr | 46L – 72L |
| Kailash Colony | 16,500 | 49.50L – 82.50L | 90L – 1.48Cr | 1.56Cr – 2.47Cr |
| Kalkaji | 12,800 | 38.40L – 64L | 70L – 1.15Cr | 1.21Cr – 1.92Cr |
| Kirti Nagar | 9,500 | 28.50L – 47.50L | 52L – 85L | 90L – 1.42Cr |
| Krishna Nagar | 5,850 | 17.55L – 29.25L | 32L – 52.65L | 55L – 87L |
| Kundli | 2,800 | 8L – 14L | 15.40L – 25.20L | 26L – 42L |
| Laxmi Nagar | 5,950 | 17L – 29L | 32L – 53.55L | 56L – 89L |
| Lajpat Nagar II | 13,400 | 40L – 67L | 73L – 1.20Cr | 1.27 – 2.01Cr |
| Lajpat Nagar III | 19,000 | 57L – 95L | 1.04Cr – 1.71Cr | 1.80Cr – 2.85Cr |
| Lajpat Nagar IV | 14,500 | 43.50L – 72.50L | 79.75L – 1.30Cr | 1.37Cr – 2.17Cr |
| Laxmi Nagar | 5,950 | 17L – 29L | 32L – 53.55L | 56L – 89L |
| Mahavir Enclave | 5,300 | 15L – 26.50L | 29L – 47.70L | 50L – 79L |
| Malviya Nagar | 12,000 | 36L – 60L | 66L – 1.08Cr | 1.14Cr – 1.80Cr |
| Mayur Vihar- I | 12,400 | 37.20L – 62L | 68L – 1.11Cr | 1.17Cr – 1.86Cr |
| Mayur Vihar- II | 10,400 | 31.20L – 52L | 57L – 93.60L | 98L – 1.56Cr |
| Mayur Vihar- III | 7,710 | 23L – 38.55L | 42L – 69L | 73L – 1.15Cr |
| Model Town | 10,600 | 31.80L – 53L | 58L – 95L | 1Cr – 1.59Cr |
| Okhla | 4,450 | 13.35L – 22.25L | 24L – 40L | 42L – 66L |
| Panchsheel Enclave | 24,000 | 72L – 1.20Cr | 1.32Cr – 2.16Cr | 2.28Cr – 3.60Cr |
| Paschim Vihar | 12,800 | 38.40L – 64L | 70L – 1.15Cr | 1.21Cr – 1.92Cr |
| Patparganj | 10,800 | 32.40L – 54L | 59L – 97L | 1.02Cr – 1.62Cr |
| Pitampura | 13,800 | 41.40L – 69L | 75L – 1.24Cr | 1.31Cr – 2.07Cr |
| Rajouri Garden | 10,700 | 32.10L – 53.50L | 58.85L – 96L | 1.01Cr – 1.60Cr |
| Ramesh Nagar | 9,300 | 27.90L – 46.50L | 51L – 83.70L | 88L – 1.39Cr |
| Sarita Vihar | 9,800 | 29.40L – 49L | 53.90L – 88L | 93L – 1.47Cr |
| Sector-10 Dwarka | 9,600 | 28.80L – 48L | 52.80L – 86L | 93L – 1.48Cr |
| Sector-11 Dwarka | 9,870 | 29.61L – 49.35L | 54L – 88.83L | NA |
| Sector-2 Dwarka | 9,000 | 27L – 45L | 49.50L – 81L | NA |
| Sector-14 Dwarka | 9,200 | 27.60L – 46L | 50.60L – 82.80L | NA |
| Sector-17 Dwarka | 8,200 | 24.60L – 41L | 45L – 73.80L | NA |
| Sector-18 Dwarka | 9,400 | 28L – 47L | 51.70L – 84L | 89L – 1.41Cr |
| Sector-24 Rohini | 8,650 | 25.95L – 43L | 47.57L- 77.85L | 82L – 1.29Cr |
| Sector-6 Dwarka | 9,400 | 28L – 47L | 51L – 84.60L | 89L – 1.41Cr |
| Sector-8 Dwarka | 8,250 | 24.75L – 41.25L | 45L- 74.25L | 78L – 1.23Cr |
| Sector-9 Dwarka | 9,100 | 27.30L – 45.50L | 50L – 81.90L | 86L – 1.36Cr |
| Shanti Niketan | 29,000 | 87L – 1.45Cr | 1.59Cr – 2.61Cr | 2.75Cr – 4.35Cr |
| Tilak Nagar | 6,450 | 19.35L – 32.25L | 35L – 58L | 61L – 96L |
| Uttam Nagar | 4,460 | 13L – 22.30L | 24L – 40L | 42L – 66.90L |
| Vasant Kunj | 13,200 | 39.60 – 66L | 72.60L – 1.18Cr | 1.25Cr – 1.98Cr |
| Please note that these prices are just estimates and may vary depending on the specific location, size, and amenities of the flat. It is always best to get in touch with a real estate agent to get the most accurate pricing information. Source: Homebazaar.com (January 2023) | ||||
Other Checks
These checks are important to ensure that you are buying from a reputable seller and that you are getting the full picture of the property.
| Check the seller's credentials | Make sure that the seller is who they say they are. Ask for identification documents and verify their authenticity. |
| Check the seller's reputation | Do some research on the seller's reputation. Are they known for being honest and reliable? |
| Get a professional opinion | If you are not sure about something, it is always a good idea to get a professional opinion. A real estate lawyer or surveyor can help you to verify the legal and physical aspects of the property. |
By considering all of these factors, you can make an informed decision when buying a flat in Delhi NCR.
| Delhi-NCR sees highest annual increase in housing price among 8 cities in Jul-Sep in 2022 - The Indian Express (November 16, 2022) |
Financial Tips
Here are some additional tips for buying a flat in Delhi NCR.
| Start your research early | The real estate market in Delhi NCR is constantly changing, so it is important to start your research early. This will give you time to compare different properties and find the best deal. |
| Get pre-approved for a loan | Getting pre-approved for a loan will show the seller that you are serious about buying the property. This can also give you a better negotiating position. |
| Don't be afraid to negotiate | The asking price is not always the final price. Don't be afraid to negotiate with the seller to get a better deal. |
Conclusion
Buying a flat in Delhi NCR is a big decision, but it can be a wise investment if you do your due diligence. By carrying out the checks outlined in this guide, you can protect yourself and ensure that you are making a sound financial decision.
