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How to Verify before Purchasing Real Estate Property

Buying a property in India is not an easy task. The process requires thorough research, patience, and most importantly a lot of time. Property transactions in India can be complicated, especially if youu2019re buying a property on your own. You might not know what to expect or where to begin. <br>

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How to Verify before Purchasing Real Estate Property

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  1.  RESIDENTIAL COMMERCIAL VASTU BLOG GUEST POST GUIDELINE ABOUT CONTACT FIND AN IDEAS BLOG REALESTATE How to Verify before Purchasing Real Estate Property   Search CATEGORY By admin  PropertyBusiness,RealEstateBlog,realestateproperty  OCT10,2022 Blog (13) Commercial (2) Construction (1) RealEstate (4) Residential (4) Vastu (3) BuyingapropertyinIndiaisnotaneasytask.Theprocessrequiresthoroughresearch,patience,andmost importantlyalotoftime.PropertytransactionsinIndiacanbecomplicated,especiallyifyou’rebuyingaproperty onyourown.Youmightnotknowwhattoexpectorwheretobegin.  Therearemanyreasonswhyit’sdi?culttobuyahomeinIndia:thelackoftransparencyinthemarket,lackof standardization,anduniformityacrossstatesandmunicipalities.  Whileitisimportanttocheckallaspectsofthepropertybeforemakingthefinaldecision,it’sequallyimportantto verifythemphysicallybeforebuying.Herearesomesimpletipsthatwillhelpyouavoidfuturehassles:   ResearchtheLegalHistoryoftheProperty Whenyouarebuyingaproperty,itisimportanttocheckthelegalhistoryofthepropertybeforesigningany documents.Youshouldalsoensurethattherearenopendingcourtcasesagainsttheselleroranydisputes betweenthemandyou.  Tofindoutwhetherthereareanysuchproblems,consultanattorneywhocanhelpyoutoidentifythedetails.Itis alsoimportanttogetanexpertopiniononwhetheryourproposedpurchasemakesfinancialsenseornotaswellas whetherthere’senoughmoneyleftoverafterpayingo?allexpenseslikestampdutyetc.,  MakesureyouunderstandwhatisExactlybeingSoldtoyou Whenyou’relookingataresidentialorcommercialproperty,it’simportanttoknowwhatexactlyisbeingsold.This canbetrickyifthelistingdoesn’tsaymuchaboutthebuildingitselforitssizeandlayout.Thatsaid,somethings shouldalwaysbeconsideredwhenbuyinginIndia:  Thenumberofrooms—thiswilltellyouhowmanybedrooms,kitchen,andbathroomsexistinyournew home.  VerifytheVastuofthehomebeforepurchase.  Checkthenumberofparkingspaces.  Thenumberofbalconies/windows—thiswillhelpdeterminewhetherornotthere’senoughlightcominginside theroom.  Safeandsecurelocality.  Facilitiesaroundthepropertysuchasschools,hospitals,shoppingmalls,etc.  ContactaRegisteredLawyer  Lawyersaretrainedtoverifyalllegaldocuments.Theycanhelpyouavoidfraud,aswellasspeeduptheprocessof buyingpropertyinIndia.Lawyersalsoprovidelegaladviceandrepresentclientsatvariousstagesofatransaction suchas: 

  2. Gettingtitletotheproperty (thetransferofownership).  Gettingallnecessaryapprovalsfromauthoritiesbeforesellingittoanotherbuyer.  Gettingthepropertysurveyedandvalued.  Gettingthepropertyregisteredinyournameorthenameofacompany.  Whenyouhireanattorneyalwaysrememberthefollowingpointers:  Makesureyouhaveareliablelawyer,whohasexperienceindealingwithdi?erent typesofrealestate properties.  MakesurethelawyerisregisteredwiththeBarCouncilofIndia (BCI).Thiswillensurethattheyare competent,ethical,andknowledgeableaboutpropertyrightsinIndia.  Thelawyershouldbeabletoverifyalldocumentsrelatedtoyourinvestmentsuchastitledeeds,ownership documents,etc.,aswellastheirauthenticity.  ConsultwithotherProfessionalsfortheirOpinionontheProperty Whenyouarereadytostartlookingforproperties,itisimportanttoconsultwithotherprofessionalsfortheir opinionontheproperty.Anarchitectorengineercancheckthestructuralintegrityofthebuildingandmakesure thattherearenomajordefectsinit.   Ataxexpertwillhelpyouunderstandhowmuchtaxneedstobepaidbythetenantonrentsothatyoucangetan accurateestimateoftotalexpensesbeforebuyingaresidentialapartmentorplotinIndia.   ClarifyalltheTermsandConditionsbeforePurchasing Onceyou’vedecidedtopurchaseorinvestinthe propertybusiness,thereareafewthingsthatneedtobe understoodandverified.Theseinclude:  Thetermsandconditionsoftheagreement.  Thetitledeedandleaseagreementofyourproperty.  Acopyofthesalescontract (ifapplicable).  Theamountofthedownpaymentandanyotherfees (ifapplicable).   Thetermsandconditionsoftheagreementshouldbecarefullyreviewed.Asthedocumentcontainsallthedetails ofthesale,includingPricePaymentmethod,Interestrates,andSecuritydepositTerm.  Conclusion WehopethisarticlehashelpedyouunderstandtheprocessofverifyingrealestatepropertybeforebuyinginIndia. Propertytransactionsarenotalwaysassimpleastheyseem,especiallyinIndia.Youwillneedtomakesurethat yourlawyeriswell-versedinalllocallaws,andalsomakesurethatheorsheisfamiliarwiththemarketvalueof thepropertysoyoucanavoidanypotentialproblemsdowntheline.        ArchitecturalGuideforVastuofFactory   By admin RELATED POST BLOG Why is Dusshera a Good Time to Invest in REALESTATE BLOG Top 5 Balcony Ideas for Residential REALESTATE RESIDENTIAL BLOG Architectural Guide for Vastu of Factory  VASTU  SEP30,2022 ADMIN  SEP28,2022 ADMIN  SEP26,2022 ADMIN Leave a Reply Youremailaddresswillnotbepublished. Requiredfieldsaremarked *

  3. Comment * Name * Email * Website Savemyname,email,andwebsiteinthisbrowserforthenexttimeIcomment. PostComment YOU MISSED BLOG How to Verify before Purchasing Real REALESTATE BLOG Why is Dusshera a Good Time to Invest in REALESTATE BLOG Top 5 Balcony Ideas for Residential REALESTATE RESIDENTIAL BLOG Architectural Guide for Vastu of Factory  VASTU  OCT10,2022  ADMIN  SEP30,2022  ADMIN  SEP28,2022  ADMIN  SEP26,2022  ADMIN NAVIGATE Home Vastu Commercial Blog GuestPostGuideline Residential About Contact

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