Checklist while buying property
Are you planning to buy a property? Stop right there and checkout few things which helps to safeguard your investment and ensure you avoid the unwanted problems that makes your investment a nightmare.
First, the most important thing is to verify the title and ownership of the seller like nature of the title, power of attorney, whether it is registered properly, khata, availability of original documents, evidence of transfer (will, gift deed, sale deed, partition deed). Next thing is to verify the seller by doing a background check, resident status, nationality that can ascertain the identity of seller.
Third thing make sure you got the conversion permission for the land if you are using it for non-agriculture purpose. Fourth one is to scrutinize the building plan to provide infrastructure facilities in apartment or land you bought. Fifth major thing is to get the occupancy certificate from the local authority this states the completion of the construction and ready to occupy without this if a seller sells put the buyer at risk that may lead to demolition of property.
Sixth on the buyer must check with the municipality whether the seller has no default on payment of taxes which in future can affect the marketability of the property. Seventh on is to check for any issues or burden is in the property which you are going to buy to do this check with the sub-registrar and in the web portal of Ministry of Corporate Affairs in case if the seller is a corporate entity.
Next one is to physically check the property that it has all access and the measurement is correct or not as specified by the seller. Last and most important thing to check whether the project is registered with the authority under RERA by checking in the official web portal of RERA.