Carpet, built-up and super built-up area
What each term means, and which one your price is based on.
What to check in an apartment agreement
Five things to read in the agreement before you book, in ten minutes.
The agreement tells you more than most brochures, and it is worth reading slowly before you pay a booking amount.
First, check the promised handover date. It should be written clearly, and it should match what the sales team told you.
Second, look at the area. Make sure the carpet area, the number of floors and the number of homes match what you are being sold.
Third, read the payment schedule. Instalments should be linked to construction stages such as foundation, slabs and finishing, not to calendar dates.
Fourth, look at the list of charges: car parks, clubhouse, corpus fund and maintenance deposit. Every one should be on the price sheet.
Finally, ask what happens if the date slips. Good agreements say so plainly, and your loan officer can read it with you.
