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News India Live, Digital Desk: To take your own home or invest in property, everyone has a big dream. But often people make some such mistakes in a hurry to fulfill this dream, which they have to suffer later. Buying a property is a major economic decision, in which even a little negligence can harm you millions.
So, if you are planning to buy property too, then wait! It is very important to check some very important things and documents before hasty. Let’s know which are the 7 important things that you must check before buying the property:
1. Investigation of ownership and registry papers:
The first and most important thing is to find out the real owner of the property and look carefully all the owners’ documents like registry, measles-khatauni (especially in rural areas). Ensure that the person selling is the legal owner of the property and he has the right to sell it. If the property is in the name of more than one people, then check the consent and signature of all co-owners. For this, taking the help of a good property lawyer will be the most sensible step.
2. Is there any debt on the property?
It is very important to check that the property you are going to buy, there is no bank loan or any other financial burden (mortgage, morgase). Demand the seller for ‘No Dues Certificate’ or ‘Encombrence Certificate’ (load-free certificate) from the bank. If there is a loan outstanding on the property, it should be repaid by the seller before purchasing and you should find the loan clearance documents.
3. Avoid legal disputes:
Find out if the property is stuck in any legal dispute, case, or any kind of family quarrel. Many times a stay order or any court case is going on on the property, which is not known to the buyer. You can investigate this in the records of the local revenue department or court.
4. Whether or not government approvals and maps are near?
If you are buying a made-up property, especially apartments or flats, make sure that the builder has all the necessary government approvals (eg building plan approval, occupancy certificate, NOC) or not. See if the property map is nearby or not. Uncreated property can later be implicated in problems like government action or demolition (demolition).
5. Property tax accounting:
Check whether all government taxes (property tax, water bill, electricity bill etc.) have been paid on time or not. Ask the seller for the last few years of tax receipts. If someone is outstanding, he should be dealt with by the seller before you become your responsibility.
6. Physical verification of property:
Do not trust the papers only. Go and see the property well. Check the availability and functioning of basic facilities like water, electricity, sewage, and gas connections. There is no need for damping, cracks, dripping water from the roof or any major repair in the walls. Also check the surrounding environment and security.
7. Future plans and neighborhood environment:
The development and future plans of the area around the property are also important. Are there good connectivity (road, metro), schools, hospitals, and markets? In future, there is no major government project (eg road widening, new infrastructure) in that area, which can affect your property? Consider these things as well.
Remember, buying a house is a big decision and it is intelligent to move forward only after full investigation and legal advice. This is a question of your hard -earned money, so do not make any hurry.
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