Buying a house is the dream of most of the Indians. However, with the boom of the Indian real estate market, the prices of the properties are moving up at a consistent rate. Thus, purchasing a residence involves the investment of a huge amount of money. Thus, you need to be very careful while spending such high amount of money in one go. Whether you are interested in some new residential projects in Lucknow or surrounding areas, you should do a thorough research and find out a good realtor who would be reliable enough to sell you a good house worth the money you shell out. In order to stay away from fraudulence, you also need to check certain documents prior to buying your dream home.
Below are some of the important documents that need to be checked before purchasing a new home:
Sale Deed:
Sale deed is the prime legal document bearing the proof that a sale and a transfer of ownership has occurred between the seller and you. Before the execution of this deed, you need to execute the sale contract. Do not forget to go through the documents featuring the compliance of different terms and conditions as agreed upon by the seller and you. Make sure that the property you are going to buy has a clear title.
Approved Construction Plan:
Make sure that there is a construction plan approved by the jurisdictional commissioner or an officer who has been authorized by the commissioner. You should check that the documents showing government approval of transforming a land into a residential property. The project would be deemed illegal if the builder secures the approval. Documents that need to be submitted to acquire the construction approval plan include the Title Deed, Property PID number, up-to date tax receipt, Property Assessment Extract, previous sanction plans, drawings of the property, Land use certificate, Foundation certificate and Demand drafts.
Master Plan of the Area:
In many instances the builders claim that infrastructural development like upcoming metro or building of highway near the residential project. You should not believe this information blindly until you go through the area’s master plan. You can get in touch with the town planning department to obtain the master plan of the area.
No Objection Certificates:
If you are dealing with a reliable builder, you should be able to acquire a copy of the urban land ceiling NOC, if necessary. You will also be able to obtain No objection certificates from the electricity, lift and water supply authorities. Getting an environment clearance NOC would also not be a problem if your builder is dependable.
Completion Certificate:
This certificate is usually issued by the municipal corporation. It certifies that the building is fully compliant with rules and has been developed according to the approved plans. This is one of the most important documents that you should check prior to buying a residential property.
As already stated above, a thorough research on the internet would help you find a dependable builder. Besides research, you should check the aforementioned documents before investing in a property. Whether you are interested in new residential projects in Lucknowor adjacent areas, you must ask for the original documents. If the builder fails to show you the original documents, be careful and stop the deal right away.
Property the title of the seller is unclear in this instance or they could be a mortgage or lien over the residential property. The Xerox copies of each link document of the title deed should be available. It would be wise if you can get a legal opinion while purchasing a house.
Summary: Buying a residential property is a matter of huge investment. To save yourself from being cheated, you should check certain documents before the purchase. Read on to get an idea of the documents that you need to check before purchasing a house.
