Exercise Caution – Use Your Judgment
It is in the best interest of users to exercise their judgment when assessing the authenticity of properties and owners. The claims made may or may not be accurate; therefore, users are advised to independently verify the authenticity of these claims. To assist in this endeavor, we have compiled a checklist that users are strongly recommended to go through (outlined below) before purchasing or renting a property.
How to Prevent Real Estate Fraud?
- Avoid sending money online to a ‘supposed landlord/owner’ through UPI, net banking, debit/credit cards, etc. if you have not met them personally.
- We do not recommend making any payments, such as property visit charges, gate pass charges, booking amounts, etc., over a call.
- If a broker is showing you the property, ensure that you meet the owner or have a web session with them.
- Do not hand over any part of the consideration/rent to the broker.
- Be cautious of disputed land titles.
- Be suspicious of realty investments promising high returns (due to infra development) with little to no risk.
- Visit the property personally to check the interior and exterior conditions and conduct due diligence.
- Choose properties with at least 3-4 clear photos of bedrooms, bath, and kitchen areas.
- Familiarize yourself with the neighborhood before moving in.
- Talk to neighbors to ensure that the person showing you the property is the actual owner.
For a Buyer/Investor
The buyer should conduct checks to establish the authenticity of any property or project, including its title, built-up area (in standardized units), and suitability for buying at his or her cost.
PostFreeProperty.com, being an advertising medium, does not vouch for the authenticity of content on its site. Much of the content is uploaded by advertisers, and we do not filter or verify it. If a complaint is made, we will take remedial measures.
Consider the following:
- Conduct a comprehensive check of ownership to verify the credentials of developers/owners.
- Visit the project site/property personally to ensure that the broker’s or developer’s claim is genuine and that the property is not imaginary.
- Opt for a builder with a good track record; checking the past record of promoters may be helpful.
- Be cautious of false title documents. Loans may have been secured against properties that are disputed or have remained vacant for long.
- It is advisable to conduct proper due diligence on the property before entering into a real estate transaction.
- Keep in mind that open areas – lobby, park, terrace, pool, gymnasium, and lift/elevator – are not part of Floor Space Index (FSI) or Floor Area Ratio (FAR).
- Consider the Real Estate (Regulation and Development) Act 2016 and its related provisions and their applicability to the project.
For a Tenant
Consider the following:
- Visit the accommodation/property and meet the landlord.
- We strongly discourage paying any property visit charges, gate pass charges, booking amounts, etc. for visiting a property.
- Check all rooms, including the kitchen and bath area, for plumbing problems, such as fixture leaks, seepages, clogged drains, and pipelines.
- Find out about the security deposit in a particular area before making the payment, as unscrupulous individuals may ask for unjustified amounts of money.
- Ascertain access, safety, and security.
- Ascertain all areas in standardized units.
Disclaimer
PostFreeProperty.com is a platform that acts as a medium for facilitating real estate transactions between individuals with converging interests, namely buyers/tenants and owners/brokers.
PostFreeProperty.com is merely a preliminary medium for contact and information exchange; users are strongly advised to conduct independent third-party verifications (whether marked verified or not) before proceeding with any real estate transactions. The responsibility of finding a genuine property, whether for purchase or rental purposes, lies with the user.
For further information, please review the terms and conditions governing the use of PostFreeProperty.com.
