Subhraleena Deka
About to buy a property? It can be done in a hassle free way. Take some time to read and make sure you follow the steps given below (applicable mainly in India) ...
First step would be to do a thorough check on the pros and cons of the location of the place. Moreover, the quoted price should be appropriate. Make sure you have done research on that as well.
Of all the documents related to a property, the ‘Title Deed’ is the most important of all. This single document gives you all the information about the property ownership, rights, and mortgages (if any). In a way, it ensures if the property has been registered along with the transfer of the developmental rights.
A certificate of commencement stating clearance for construction should be registered under the property. This is issued by the ‘town planning and engineering department’ once the inspection for the basic foundation is over.
The property should further have a layout plan approved by the local authorities; and the design should be in sync with the Building Codes of specific areas. It is NBC (National Building Code of India) in case of India.
The property, if residential should not be in an industrial/commercial zone. That is illegal. If you apply to the urban development authorities in the region, they are bound to give you proof of any certificate for construction.
The whole area’s master plan should be verified to ensure it is a legal construction.
Moreover, the builder should produce the NOC (No Objection Certificate) certificate to you if it is applicable. Nowadays, environmental and water clearances are also required.
You can do some background checks on the property by approaching the banks from which it has loan approvals; usually banks do their fair share of research before giving out loans. So, that is a very reliable source.
