A service by a leading property dealing firm to help buyers make informed choices

With daily reports of scam and frauds in the realty sector and no existence of a regulating body, where does a property buyer go? Here's the answer.

A new service by Top Mortgage Brokers is set to help potential buyers check a property's authenticity before signing on the dotted line.

The service, which is likely to hedge customers' risk of being cheated by unscrupulous sellers, will initially be available in the national capital and extended areas of the metropolis.

"Proceed, the property report is not only going to help the customers in buying realty without fear, as it checks the legal title but will also help him realise the fair price of the property that he wishes to purchase," Top Mortgage Brokers' Chief Executive Officer Sachin Mittal said.

While a buyer from Delhi would have to dole out Rs 9,999 for availing the service; in the National Capital Region, the charge is Rs 6,999.

Mittal said that the company would also do the valuation on behalf of the customer of the target property by taking into account the location, demand-supply situation of the area where it is located, civic amenities and safety aspects. The property value evaluation method adopted by Proceed will be based on various factors like investment, construction, comparative and residual.