Buying A House Look Before You Leap
For a common man of India, no dream is bigger than owning a house. The ownership of property, especially a house, is directly hooked up with the social status. One of the FAQs before the marriage of somebody’s daughter is, “The boy has his own house or not?”
Such significance a households in the society of India and thus, buying a house becomes the top most priority. However, does a common man really know what are the hazards he might come across and what are the Dos and DON’Ts before getting it signed?
Here, we are going to suggest you that how can you arm yourself before buying a house. The following are some precious tips, which will solve all your queries.
The very first measure before buying a residential apartment is to take a look at the Title Deed. This is a legal document, which proves that who the actual owner of the house is and it presents assertive rights and freedom to the owner. The deed is essential while transferring the property.
The second step is to check the Encumbrance certificate, which will show that the owner does not have any liability or charges created on his property in terms of any debit by the property owner and has not been discharged as on date. This certificate might be held as security against bank loan against property.
To enquire about the Tolerance plan is another step that has to be taken before you go ahead with your investigation. This is a detailed plan of the property, which is completed by the licensed surveyor. Details of the overall dimensions are concluded in this plan and it is essential for some specific areas only.
Pledged land is another step, which tells about the loan taken on the property and the amount is due or paid. If it is paid the bank will issue a “Release Certificate” and this certificate will be needed when you will go for a loan in future.
Before buying the property, the buyers should also investigate about the Property Tax receipts. This tax is the first charge on property paid to government or municipality. It can be conformed from either municipal and government offices that all the taxes have been paid or not.
The other key facts to be checked are; Measurement of Property and it is prudential to measure the land before registering the property. The property is in the name of one owner or multiple owners or NRI owners.
Deed and sale agreement is also an important task that needs to be done and last but not the least, property registration to become the legal owner of the house.
Harsh Macro Developers Ltd. Harsh Tower, Plot No.8, Near Gopalpura By-Pass, Triveni Nagar Mod Jaipur- 302019, Rajasthan, India www.harshmacro.com +91 141 5168168 /HarshMacro