Tuesday, 12 September 2017

Easy steps to Buy Residential and Commercial Property in Jaipur

Buying a property is a lifelong decision for a buyer. On one hand, we have numerous projects that are launched in the Jaipur and on the other, there is a fear of the projects being delayed due to some issues or reasons or the project is canceled. Thus, it is important for the buyer to do his homework and prepare the necessary documents that are critical for Buying a Property in Jaipur.

1. Land titles/approvals from the authorities/construction permits
2. Certificate for clearance
3. Membership and clearance of society
4. Details of property tax payments and other bills
5. Agreement of Sale
6. Registration and Stamp Duty
7. Possession of the apartment

Let’s discuss about these documents in detail.

Land titles/approvals from the authorities/construction permits
The most important thing for this is to check for the ownership of the land in favour of the developers with an approved license number. Along with the transmission of the property in the favour of the society. If it is a joint construction of the landlord and the developer then there will be need a lawyer which is executed by the landlord in the favour of the builder. You would also need permission to use the land for non-agricultural purposes. You should also have the original plan that is approved by the municipal authorities; these include number of floors, total areas, etc.

Certificate for title clearance
One should get the title clearance certificate from the lawyer that would certify that the property is intended for purchase is tangential and it has a clear marketable title as well.
Membership and clearance of Society

As per this, there should be no objection from the society for the sale and transfer of apartment. Make sure payments of all the necessary transfers charges are made to the society. Also, get the share certificate from the society transferred in the name of the buyers.
Details of property tax payments and other bill
Make sure that the seller paid the due property tax as well as other bills of the municipal authority or the local development up to date of the registration of the property that is sold. You can also get the certified copies starting that the payment of various taxes and charges from the sub-registrars’ workplace in your city.

Agreement to Sale

While signing the deed or the sale agreement and while taking the possession make sure that there is clearly mentioned the apartment number/ floor number in the agreement, the build-up area/carpet area and the buying consideration of the property is also clearly mentioned, the floor plan of the particular property is invaded along with the agreement, all the facilities and the sale amount should be clearly mentioned, the document should be stamped and signed and it should have the payment schedule and the seller should also provide the original receipts that are stamped and conveyance deed if the property is for re-sale.

Registration and Stamp Duty

The stamp duty is allocated on the agreement value of the market value or the property no matter whichever is higher. Also, the document is to be registered under the provision of the Indian Registration Act within four months. This is to be registered with the sub- registrar from the date of implementation. The stamp duty and the applicable registration charges should be checked all across India.

Possession of the apartment

One must make sure that you receive peaceful and vacant possession of the apartment that is mentioned on the agreement. Also, do check if there is any contract for refund of the expanses due by the seller or the builder if the seller fails to give the possession of the property by the specified date or mutually decided extended date. One should properly inspect the apartment with the facilities that are stated in the documents or the agreements and make sure that there is continuous supply of water and electricity in the premises.

For more information about real estate in Jaipur, Rajasthan

Click: http://bit.ly/2xa5Mbt
Visit: www.propertybull.com

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