Legal Documents You Need From The Builder To Buy The Property |
Posted: August 13, 2018 |
Why are legal documents necessary?Home buying is one of the major investments where one invests all the hard earned money and savings to buy a secured worthy shelter. One should be more careful while investing on a property and should do a deep research of market value, trend, budget, locality, builder and everything before investing on a property. If the investments are in the city like Bangalore, it is advisable to be more aware of Frauds and scams before investment. Property developed by a trusted builder like Sobha Groups is truly an asset to invest. Sobha Lake Garden is one of the most awaited upcoming residential apartment with all the amenities located in KR Puram, Bangalore. To not get into the trap of Land mafia and fraud property dealings it is advised to approach a trusted builder in the market for many years. Do a complete encounter with the legal side of the property before even making the decision to invest. Sobha Lake Garden KR Puram stands as the symbol of extraordinary contribution with transparent legal documents. One can approach the lawyer and take the legal opinion on the documents provided by the builder.
What are the legal documents I need from the builder?Before investing on a property it is suggested that you do the detail verification of the property document and have a legal opinion from the lawyer. Verify the land-use zone as per the city master plan for the plot. Double check that the property is approved by the local body. The builder should provide you these documents while purchasing a flat/villa: Agreement to sell is a detailed description of the property construction and development that states the terms of conditions between the buyer and the seller, including the purchase price as agreed by them. See whether the builder has a right over the property by checking whether builder owns a Sale Deed / Title Deed. It lets you judge if the builder is genuine or not. It records the actual transfer of ownership of the property. Sale Deed / Title Deed should be registered at the sub registrar’s office under the jurisdiction of the property. Khata Certificate (as called in Karnataka) provides the proof that the property is registered in the limits of local municipal records. There are various certificates like A Khata and B Khata, be aware of that. Have a clear picture if the property has an Encumbrance Certificate provided by the government. This allows you to know whether the land is free from all legal dues or the legal dues which were there on the property. Property Tax Receipt gives the clear idea of the tax paid by the builder in the previous years. You can also get to know if any tax dues on the property. Occupancy certificate or completion certificate issued by the municipal corporation after the completion of the construction of the building. It symbolises that building was constructed according to a sanctioned plan and that it is ready to be occupied. To make sure if any loan is outstanding on the property, look the Statement from the bank if loan was taken on the property. No Objection Certificate (NOC) from Sewage Board, Environment Department and Pollution Board. To be on the clear side that building has not deviated from the sanctioned plan, check the Sanctioned building plan issued by the statutory authority. Finally, Power of Attorney (if any) gives you the clear picture of the original owner and the transaction made on the property. It specifies the present owner of the property. Make your valuable investment in Sobha Lake Garden Bangalore and be on the safer side of legal documents with wise investment. Sobha Lake Garden is a luxurious 1, 2, and 3 Bhk abodes designed to offer the urban lifestyle with maximum comfort.
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