Question 1

What are the documents required for the resale property in Gurgaon?

Accepted Answer

Sale Deed, Title Deed, RERA Registration, Encumbrance Certificate, NOCs, Tax Receipts, ID proofs.

Question 2

Is a builder's notice required for resale property?

Accepted Answer

No, generally not unless the society/developer has a policy for transfers.

Question 3

Does resale flat have stamp duty?

Accepted Answer

Yes, stamp duty is imposed depending on the property value and state regulations.

Question 4

Is possession letter mandatory for resale flat?

Accepted Answer

Yes, legal possession is the one verified in registration and for loans.

Question 5

What to check when buying resale property?

Accepted Answer

Ownership, clear title and no dues, RERA registration, and the condition of the property.

Question 6

How much home loan can I get for a resale flat?

Accepted Answer

Banks lend 75 to 90% of the approved property amount, depending on incomes and liabilities.

Question 7

How to evaluate a resale property?

Accepted Answer

Age of property, state of property, amenities included, neighbourhood, and availability of legal clearance.

Question 8

What is the procedure to buy a resale flat?

Accepted Answer

Shortlisting, Documentary verification, Induction of negotiation, Signing and execution of agreement, registration, and handing over possession.

Question 9

What are the disadvantages of buying a resale property?

Accepted Answer

Old buildings generally require refurbishing and other minor renovations, with some legal issues associated with them.

Resale Property in Gurgaon

Frequently Asked Questions (FAQs)