Some Important Legal Checks to Browse Through Before Buying a Property

It is correctly said, "Don’t wait to buy land, buy land and wait". Having said that, we all are familiar with the fact that people interested in multiplying their money often end up investing in land or plot, considering it to be a lucrative option. But many a times, rushing with such important  monetary decisions leads buyers to make the unintentional mistake of not checking the legal factors thereby falling prey to malpractices on the developer's part.

Here is a checklist that you should consider before investing in a piece of land or flat:

Verify Title Deed

Check whether the seller has proper rights over the property. In other words, verify whether the proprietor owns the property or not.  First, you need to see the title deed of the land which you are  planning to buy. Ensure that the land is in the name of the seller and that the full right to sell the land lies with him and no other person (check whether the land is disputed or not). Get your lawyer to verify the original deed.

Check Encumbrance Certificate

Another important thing before buying a plot is to confirm that the land is free from legal dues. To ensure this, check the Encumbrance Certificate for at least 30 years. It is easily available at the Sub-registrar’s office or can be checked online. EC will clarify whether the land has any legal dues or complaints.

Necessary Approval by Local Body

Verify whether the plot or the entire layout has been approved by the City Development Corporation and the local bodies. In the case of a large layout where builder plans to develop the plot, ensure that the planning permission and building approval has been obtained from the City Development Corporation.

Buy from transparent builders

Ask the builder to show the original documents of property and to cooperate in the verifying part. Participate in various online forums and read the reviews from existing customers to know more about the builder and consumer complaints, if any. There are only a few builders like Nitesh Estates who operate with transparency. This renowned builder has come up with a highly beneficial project called Nitesh Rio. 

Owning a piece of land gives a certain kind of contentment, especially to those who are investing for the first time. And, verifying the requisite legal documents before investment hedges you against a lot of unforeseen losses. So, whenever you plan to invest in a plot or a residential apartment, do start with verification before finalizing.