How to Buy Property in India from Smartphones
India is a vast country with many builders and real estate agents doing the round with an increasing demand for property with a simultaneous increase in supply. However, amidst the corruption and land scams groping the country it is very important for you to know whether you dream land is really a dream or a dreary nightmare. The real estate Bangalore suffered massive market downturns due to umpteen land scams that have besieged the region. You are spending your hard earned money on making a brighter future for yourself and family, you sure don’t want it to turn sour, right? Here is low down on how to move safely around the real estate sector in India.
The first tool you need to ensure safety while buying property is to have a lawyer by your side. This lawyer is the crucial factor as he will be able to assess the legal papers which you have no sound knowledge of. Employing a lawyer is a good investment as, in case there are any disputes in the future, your lawyer, having known your history of purchase will guide you through the turbulent times. Of course, nothing comes free of cost and so is the case with a lawyer. But why not make things more secure with a small cost of a lawyer when such a grand sum of the property could be at stake.
Real Estate Agent
Look forward to being associated with a good real estate agent. What must not be forgotten is that a the real estate agent is here to sell and get his commission in place but sometimes they may adopt illegal means and snoop less than what is required only to make a quick sale. In this case, make sure you visit and get yourself only a registered real estate agent. You can research a little about the real estate agent as well.
There are some legal details you need to check if you have narrowed down on any particular property. These include
- Checking and validating the real ownership of the flat concerned. Is the owner the real owner?
- The house should not be mortgaged at the moment
- You need to check if the property is transferable and is not subjected to any sort of legal restrictions of the purchase herewith.
- Do check for any property disputes, be it internal with the current owner or with the land if it’s a brand new property. For e.g. if you are planning to buy a property in KR Puram in Bangalore you ought to know the details about the builder’s disputes of land if any for that particular area or sub region.
- There are certain legal documents like the final sale deed to sub-registrar, application to register the land, final sale deed and the stamp duty, should one be prepared to make expenses for.
These are some of the essential factors you must consider before buying property in India. Adhering to the aforementioned factors and accommodating them will help you secure a safer home.
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