Check legal documents and ownership clauses before buying an apartment

There are many instances of people squandering away their hard earned money by investing in an apartment where the clearances have not been obtained or the land title is not clear. Worse still are instances where the builder still owns the land on which the apartments have been built and only the apartments are sold to the apartment owners. There are even instances of apartment complexes where the builder keeps ownership of the roof and has exclusive amenities such as a rooftop swimming pool, garden, tennis court, etc. You may end up paying maintenance charges for your builder's amenities which you never can/will use. There are instances of builders having penthouses and exclusive use solar water heaters which are filled using the common water tank. You will end up paying for the builder's extensive use of the lift. There are many instances of builders having penthouses as party pads and having a party every weekend.

Consider the following factors before buying an apartment:
1. Does the builder have legal possession of the land?
2. Does the project have appropriate local body clearance - (For ex: GHMC in Hyderabad)?
3. Do you have ownership of the land [equivalent to your share in the apartment complex) and is this clearly mentioned in the documents?
4. What are the common areas in the apartment complex (Rooftop garden, tennis court, swimming pool, etc.)?
5. Will there be a society in the apartment complex? Will the builder have the majority share in the society - [Beware of this situation as you and other owners will be marginalized]?
6. What will be the maintenance charges and who decides the maintenance charges? Will the amenities be available to both the apartment owner and tenant [in case you rent out the building]? You may be shocked to know that some complexes have owner only clauses.
7. What are the restrictions, if any, for renting out your apartment?