Questions to Ask Before Buying a Plot on Installments
A practical checklist covering project approval, developer information, payment schedules, additional charges, possession and documentation.
An installment plan should be reviewed together with the project, developer, documentation and payment terms. Use the following questions as a practical starting checklist before sending an inquiry or making a payment.
Marketplace information is useful for comparison, but buyers should verify current project, developer, approval, pricing and payment information before making a property decision or payment.
1. Who is the developer?
Review the developer name, available project information and the developer's published projects. Verification indicators can help organize marketplace information, but buyers should still perform their own due diligence.
2. What project information is available?
- Project name and location
- Property or plot type
- Available sizes
- Development or approval information provided
- Current inventory and availability
3. What is the complete payment schedule?
Ask for the full schedule, not only the booking and monthly amount. Identify all recurring installments, balloon payments, milestone payments and possession-related amounts.
4. Are there additional charges?
Ask whether development charges, utility charges, documentation fees, transfer fees, taxes or other charges are included in the displayed price or payable separately.
5. When is possession expected?
If possession timing matters to your decision, ask what the developer currently states and what conditions must be completed before possession.
6. What documents will you receive?
Ask which booking, allotment, payment and ownership-related documents apply to the transaction. Keep copies of documents and payment records supplied to you.
Compare properties and payment plans on IQSATI
Browse published properties, review available installment information and open the complete payment plan before sending an inquiry.
