Check Point To Know Your Property Is Legally Verified

By Author: Anand
Total Articles: 6
Comment this article

Your awareness about the rights can certainly protect you from unscrupulous practices by developers. In the world that still lacks lucidity, it is perfect to do the inspection of every document by yourself while buying any property. First of all, the drafting of sale agreement should be done with utmost care and the buyer should fully understand its contents.
Here is a list of essential points that must be legally verified while buying a property in Ghaziabad:
Approval and Licenses-
Once you fix a property, check the builder’s paperwork ranging from commencement certificate for work, approved building plans and environmental clearance. Additionally, ask for the status of the land title and find out whether the builder has bought the land or has developed rights for it. Here are some documents that you should check:
* Title deed
* Release Certificate
* Verify Land Use
* Approvals by Local Body
* Property Tax Receipts
List of Banks Financing The Project-
With real estate companies who has unsold inventory and doesn’t have enough cash, banks has become an option of ...
... financing them. There are many real estate companies that doesn’t get bank loans at all. Therefore, once you decide a property and confirm that all the approvals are in place, check out whether the banks are ready to finance the project and go with the one who is offering you loan at the lowest price.
Calculate The Total Cost:
Do not trust on what the broker tells you. Most of the times brokers just mention about the basic cost and not about other factors such as internal/external development fees, parking/statutory/club charges, preferential location charges and service tax that intensify the total cost. So don’t forget to ask for the final cost of the property.
Verify The Builder:
The portion of land is question would be litigation. Therefore, it is suggested that you do an intense verification of the builder of Ghaziabad real estate. You can verify its current or past projects or even post queries on different online real estate forums.
Buy Vs Rent:
Most of the people buy property thinking about they will utilize the rent for paying EMIs. Professionals say that it is a wrong approach. The rental property is usually only 2-3%. However, the property will remain vacant till the time you find a tenant.
It is crucial to be an informed home buyer as it will assist you to avoid legal issue in the future. Finally registering plots in Ghaziabad NH 24 with legal purchase agreement will give advantage to the buyers. It delivers protection from legal issues at any time of ownership.