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Legal Procedure for Buying NA Plots in Pune

Everyone wants to own a property. A plot is a valuable investment in everyone’s life. One needs to be careful while investing in NA plots in Pune to avoid any legal issues. Before buying NA plots, you need to check whether the plot has a clear and marketable title. Check whether the plot is free from any legal issues and have cleared all debts. These things should be verified before purchasing NA plots in Pune. Make sure you have seen the original documents of the plot. Verify the title deed, check for authority permission and construction approval. If you’re an NRI looking to buy NA plots in Pune, this presentation will provide you with valuable information on the legal procedure for buying NA plots in Pune.

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Legal Procedure for Buying NA Plots in Pune

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  1. Introduction • Ownership of a house, farmland, or plot is an important thing in one’s life. • One needs to be conscious while buying a property to avoid falling into a legal nuisance. • Prior to buying a land, a number of checks need to be done to be sure that the land has a clear and marketable title. • The legal status of the land is one of the first affairs that should be addressed before purchasing a property. www.svbrealty.in Contact Us: +91 8411963033 2

  2. Basic Documents Required to Buy NA Plots in Pune • Purchasing a property needs to be a well-informed decision always. • There is a lot of legal procedure involved when it comes to dealing with properties. • Owning a property is risky. Carelessness can lead to greater losses. • Therefore, being cautious is vital. • With correct property papers and identity proofs, you can take a more informed decision regarding purchasing NA plots in Pune. • Basic documents are the first thing required to buy a land. www.svbrealty.in Contact Us: +91 8411963033 3

  3. Legal Checklist (Contd.) 1. Verification of title: Verify the documents you are having are duly signed and stamped by governmental authorities. 2. Search for the identity of the seller: It is mandatory to pay attention to the seller’s residential stature and nationality. Land investment is a crucial investment and requires consciousness. www.svbrealty.in Contact Us: +91 8411963033 4

  4. Legal Checklist (Contd.) 3. Check for the required permission: The process of converting a property for non-agricultural use is significant. If you are a buyer, then you must examine the plan beforehand. 4. Construction approval: The layout plan of the property should be sanctioned by the municipality or other concerned governmental bodies. www.svbrealty.in Contact Us: +91 8411963033 5

  5. Legal Checklist 5. Non-agricultural: Agricultural lands are not meant to be used for construction. Have a look at the necessary documents and procedures and be sure that your land is non-agricultural. To ensure all things are at the place, you need to understand the checklist in details. www.svbrealty.in Contact Us: +91 8411963033 6

  6. What if I Am an NRI? • For an NRI purchasing a piece of land in India is more than an investment. • Many Indians have gone abroad to accelerate their career. This factor may sometimes make people homesick for staying away from their parents. www.svbrealty.in Contact Us: +91 8411963033 7

  7. Here is a Checklist for NRIs Looking to Buy a Plot in India : • Purpose: Your purpose should be clear. • Transactions: All transactions should be done in Indian currency. • Power of attorney: It is possible for a POA to any relative or friend who is living in India. • Taxation: If the price of the property is more than 50 lakh, then the buyer must pay 1% tax on it. This is only for the first purchase. www.svbrealty.in Contact Us: +91 8411963033 8

  8. Transferring the Property • It is mandatory to have property documents while transferring a property. • Transfer of property can take place for reasons like gifting, selling, etc. • The Memorandum of Understand (MOU) is the first document that is required during this process. • The transfer deed is used for transferring the existing title to someone else. • The relinquishment deed is required when there is more than one owner of the same property and this deed relinquish all the share in that property to another partner. www.svbrealty.in Contact Us: +91 8411963033 9

  9. A lot of IT and manufacturing companies are coming up every day in Pune. This results in a huge demand for residential plots. Purchasing an NA plot is the best solution for residential needs.There are a number of real estate companies which will help you find your ideal residential plots. Amongst the reliable developers available, SVB Realty is one of the prominent real estate development companies in Pune. Read more about : Legal Procedure While Buying an NA Plot www.svbrealty.in Contact Us: +91 8411963033 10

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