Pros And Cons Of Buying A Flat In A Building Without A Registered Housing Society

wealthymatters.comThere are many flats available in buildings where the developer has not yet handed over the building to the flat owners despite its completion many years ago. These flats are often in mint condition and available at a discount.Bank loans for such flats is also a possibility.So it is always tempting to buy one of these.But do proceed with caution.

First find out why the builder has not transferred the possession legally to the registered housing society.There could be various reasons for this, the  simplest being that no registered housing society has been formed yet.In such a case it is a fairly simple case of buying the flat and taking the initiative to form a housing society and registering it. Read more of this post

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