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What are the Steps before purchasing land
In this blog, we’ve outlined the steps before purchasing land. If you follow, you will never occur into the trap of the wrong property seller. Instead follow, follow the below steps and execute while buying your land or keeping it for a real knowledge guide for future reference. Sale Deed, Loan Certificate, Power of attorney
29 Oct 2021
You should know the Steps before Purchasing land as buying a property is one of the essential things in your life. You decide to buy a property with all the accumulated capital, huge debts, and big ambitions, so it is necessary to be careful in it so that no one can easily steal your hard-earned money.
Your carelessness in checking property papers can blow away your life savings in a minute. But we don’t want that to happen with you, so here we are presenting a blog to keep remembering these points before buying a house.
Sometimes, people try to sell disputed properties at low prices. This prospect might seem attractive initially but would eventually be a significant headache. Also, never engage with a seller who wants you to give brokerage money to make the purchase in order to save taxes. It could also lead to a lot of future troubles. So, let’s dive deep to know more inside.
1. Sale Deed
2. Receipts of taxes Bills paid
3. Power of attorney
4. Verify the identity of the seller
5. Land-use permissions
6. Status of tax payment
7. Conversion Certificate
It is a legal document that verifies the ownership of the property, or there is also evidence that the purchasing land has transferred altogether safer from the old owner to the existing seller.
This certificate ensures no loan or other liability on the purchasing land. Meaning at the time of land buying, it should be free from all kinds of debt or liability.
This certificate issued by the sub registrar's office tells what kind of transaction related to the property has been done and its actual condition at present. In other words, this certificate is proof of any mortgage, title transfer, or legal transaction so that the purchasing land is not in question.
It is a legal document with the help of which a person authorizes another person to sell the property.
However, this document also needs to be registered. Otherwise, the same property is sold to many people. And it happens the massive loss of revenue to the government and has to face more litigation cases.
The person buying the property should ensure that all dues have been cleared and should have the necessary tax receipt or bill for the same.
Ask for all original receipts in the genuine from the person selling the property and never trust photocopied receipts.
Check the seller's documents and confirm identity- To ensure the seller has proper Identity proof and has the valid identity issued by the Indian Government-include his Aadhaar number, PAN number, passport, income tax returns, salary certificates, etc.
Ask for all original receipts in the genuine from the person selling the property and never trust photocopied receipts.
Check do The buyer must examine and satisfy that the property is developed following the zoning plan – such as-
Property should be Register on the RERA (Real Estate Regulation and Development)
In RERA- Information available on the official web portal of RERA for each state also provides details of any cases/complaints filed against the developer of the project and default by the developer.
Never Ever do these things-
Never Ever do these things-
So Now you have a fair knowledge of Purchasing Land Process, so you'll never be worried about it and without hesitation, you can purchase land from anywhere.
To Know such excellent Tips related to Your Property of House- CLICK HERE NOW!
Also Read-Property Registration Process in India: Very Easy Steps
You can Read This for More Clarity on the Real estate- How to become a successful real estate agent in India-for beginners
Straight Reading for You- Buying vs. Renting a house in India.