What are the things to keep in mind while registering, builders will not be able to do fraud and the property will also become cheap?
Before buying any property, if an advertisement is printed about it in the local newspapers.
This will give information whether there is any third party right on that land.
With any property, you get a No Objection Certificate (NOC).
New Delhi. Property consulting firm Knight Frank said in a recently released report that sales of houses have been strong this year. Clearly, the property market is once again gaining momentum. You will also be in the process of getting the house or land registered. Before this, it is important to know that what should be kept in mind while registering the house or land.
Actually, registration of land or house is a legal process, in which the buyer of a property gets that property in his name from its owner. In this process, the permanent ownership of that property is given under the law. Therefore, many documents will also be required in this. Here you should know that the documents submitted by the seller at the time of registration are correct.
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First find the owner
You should know that the person who is selling the land is the real owner. For this, if you want, you can take the help of a lawyer or a professional. It is better that you go to a lawyer to get the sales deed and property tax receipts checked. Through this, you can collect the details of the last 30 years about the property.
issue public notice
Before buying any property, if an advertisement is printed about it in the local newspapers. With this, if that land is in any dispute or any claim is going to be made on it, then you will know even before buying. You will get this information whether there is any third party right on that land.
Verify the Power of Attorney
Sometimes the sale of land or property is done through a power of attorney. This method has the highest chance of fraud. You should take the help of a professional to know that the same property is being sold to you as mentioned in the Power of Attorney. Many documents are exchanged in this process, which is a long process. It would be better if you can authorize someone on your behalf to avoid this.
Check these documents before registering
title deeds : First of all, make sure that the property registration you are going to get done is in the name of the person who is selling you the land.
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NOC: With any property, you get a No Objection Certificate (NOC), which states that your property is not related to any other developer or builder.
Ask for Tax Receipts: If you ask for information about the tax paid on the property, then it is ensured that that property is also mentioned in the government document. In this it will also be known that there is no dues of any previous tax or payment on that property.
Banks will show the right way
If you take a loan from a bank to buy a property, then this is the easiest way in terms of legal process, because the bank will give you a loan against a property only when it is completely right. If there is any deficiency in the legal documents of the property then the bank will reject your loan and you too will be saved from a fraud.
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Tags: business news in hindi, Property, property dispute, real estate
FIRST PUBLISHED : October 28, 2022, 07:50 IST