4 Issues Faced While Buying Land And Properties

By Author: Tom Smith
Total Articles: 2
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Having own property is a dream for many people. However, it sounds logical but it is associated with a different problems. However, in order to meet the needs of the people, contractors are going for both vertical and horizontal expansion. However, a property lawyer in Kolkata mentioned that in order to do the vertical expansion, the high-rise buildings are on high, whereas in order to go for the horizontal expansion, new areas are coming under the urbanisation. However, in order to hurry few contractors and real estate agents are taking wrongs ways, which is not at all expected. However, these all resulted into the problems that are faced by the people. In order to avoid these issues the customers must remain aware of the basic issues related to property dealing. Here is the list of the issues that the people must be aware off.
Legal Disputes: There are often the customers use to complain regarding the different legal disputes related to land or property buying. Thus in order to stay safe one must check the different legal aspects regarding the property. It is possible that the land a person is willing to buy has some ...
... cases pending in the court. Therefore, if the person will buy the property he or she has to face the legal proceedings regarding to that. In addition to that marking of the land boundary is another issue that one must be aware of all the time. Suppose the agent is saying that the land for say is of 1440 sq.fts but in reality one may found that it is only having 1300 sq.fts. Thus, the person has to pay money for extra 140 sq.fts. It might also possible that the land is a vested land or kept for some govt projects. In such situation, it will be necessary to go to a lawyer in order to have a search report.
Documentation: In order to avoid the legal issues one must always check the documentations. As checking the documentation can help the person in order to avoid legal issues. However, one may ask which are the important documents, how will they know. The answer is that if you do not know, at least your lawyer will know. However, is are the list of the important documents that are needed while one is buying property or land in India.
First is the Title and proof of the legal right on the land. Second important thing is the record that how many hands the land or the property has been transferred. Third important thing is the tax clearance certificate regarding the land. Fourth, is the encumbrance certificate which is generally generated for 13 years but if one is keen on buying a land they he or she must ask for a 30 years of EC. Fifth is the RC or the release certificate, as this certificate helps to identify that the land is not pre owned by anyone. If the land is a joint holder’s property, then he or she must also free his or her pledge form the property. Finally, one must have a survey sketch that will help him or or her to understand the correct boundary of the land.
Land Surveillance: One of the most important issues is to make surveillance on a continuous basis once you have planned to buy a property or land. One of the most common problems faced by the property owner especially the landowner is regarding the illegal occupancy or trespassing. The problem mostly faced by the landowners as one can easily occupy a vacant land in comparison to the open lands. Once some land mafia grabs the land, it is very difficult to avoid the issue. Sadly, but even taking the help of the lawyers cannot help to get the land back. Thus, it is important that if one does not live at a single place then he or she must drop the idea of buying a land.
Rate of interest: However, the modern real estate market is growing at a pace but the price has not appreciated at that level. However, in addition one must understand until the land is used for some purpose, no revenue will be generated. Thus, there is a very less chance of getting any value from the land. One can consider the land as the fixed asset from which the person can get benefit if it will be used. Thus, people must not take the decision of buying the land on a short period of notice.
Thus, here, 4 different issues are being presented in a nut shell. There are several other issues can arise while a person is going to buy a land or a property. It may possible that the broker or agent can create lot of issues. It is also possible, that a person will found that the land is ok and perfectly all right by every means, but with certain development, a road will start to get constructed. In such situation, it is possible that the government will buy the land. However, thus the person must also give a second thought in order to understand the future ventures of the government in nearby area. However, it is not possible to know about so many things for a single person and in order to avoid the problem the person must hire a professional property lawyer who can verify the issues regarding the property.