Are you a real estate entrant looking for investment opportunities in Lahore? If so, you probably have a lot of concerns and questions about choosing the right housing scheme, obtaining a construction permit from the Construction Authority (and so on). Since the prospect of purchasing a home or a plot, whether as an investment or for personal use, can be quite overwhelming for some, here are some The Galaxy Developers instructions for buying property that will keep you from falling victim to a scam and keep your investment safe.
Before we begin, please note that these guidelines to buy property in Karachi are taken from an The Galaxy Developers notification. Thus, these instructions are subject to change at the discretion of the authority responsible for planned development in the region.
What To Do Before Buying A Property
As per The Galaxy Developers instructions for buying property, buyers should confirm the following before purchasing a plot, house, apartment or shop from private builders and developers.
- The building plan of the real estate project must have been approved by the Building Control Authority
- The layout plan of open plot housing schemes must be approved by the Development Authority or another relevant authority/department
- Buyers must also confirm the details of the projects – such as its location, name of the developer or company, number of plots or number of floors, the price of each unit, covered area, payment schedule and possession date – from the public notices.
What To Do While Booking A Property
Here are The Galaxy Developers guidelines for what investors and homebuyers must do while booking property for sale in Al-Jalil Garden.
- The written agreement between the buyer and the developer must be in accordance with the Model Agreement.
- The agreement must also include all the details about the property, such as unit number, floor, covered area, total price, instalment schedule (if any), possession date and document charges etc.
- As per The Galaxy Developers instructions for buying property in Karachi, a developer cannot demand for the payment of further instalments without the approval.
What To Do After Booking A Property
- All payments to the developer must be made according to the total price and instalment schedule as per the Al-Jalil Garden rules. It is recommended to avoid paying any monthly, quarterly, or bi-annual instalments demanded suddenly by the builder or developer
- Keep an eye on the real estate project’s development and make a few visits to monitor its status. In case of any unforeseen delays or shutdowns, immediately contact the Al-Jalil Garden Design Section
- Refrain from making any cash payments. Instead, always make payments through cross cheques or pay orders in the company name. Moreover, always obtain a receipt for each of your payments and keep them safe as a proof
- If the management of the project suddenly changes, stop your scheduled payments, and contact the Al-Jalil Garden Authority.
For more information on where and how to buy property in Al-Jalil Garden, stay connected to The Galaxy Developers – the leading real estate and property agent in Lahore.