For those of you who do not want their first home buying experience to be an eye-opener, they should be very particular about the legal aspects related to it. To ensure that your property transaction has no strings attached, go by these suggestions from an expert.
Title Deed Caution
First and foremost, take as much time you need in examining the title deed. The help of an expert is recommended for you to comprehend every little detail and make the final call, accordingly.
A safe life is a happy life. Check if all the provisions stated for maintaining the building’s safety such as fire-escaping system are intact or they have been converted into additional rooms by the builder for the latter’s profits, putting your life at stake.
Check the Restrictions
In times when environmental protection is a major concern, there is much possibility for the property you are buying, to be located in any regulatory zone. You better find it out so that any future activity of yours such as playing loud music might not land you in soup unknowingly. Approach the local self-government of the area concerned to gather the information.
To avoid any future disputes, find out if the building in which you would be purchasing the flat has been constructed in compliance with the rules laid down by the local self-government. This is an important step in leaving no room for the builder to trick you withfalse claims. Otherwise, you might have serious trouble in selling the property, too.
Referring to the Master Plan of the building and CDP (City Development Plan) is essential. These will give you a clear picture of the truth. You can find out whether or not the building has violated any of the guidelines.
Ascertain the Permanence
The permit provided to a residential building can be of two types, namely absolute and provisional. The legal existence of a building with a provisional permit can cease to be in effect at some point in time. Thus, get confirmed from the engineer of the related municipal corporation that your building has received an absolute permit and not the other one.
Clearance of Legal Obstacles
Work your fingers to the bone for a home that won’t end up giving you sleepless nights. Carefully inspect the presence of legal battles and if there are at all any chances for the building to become free from such irregularities.
Building Plan Exhibition
It is a rule for the multi-storeyed building or the residential complex to showcase the copies of the building plan and legal documents at its entrance hall. If you don’t find so then the builder owes an explanation to you or you need to give your decision a second thought.
Secure Your Ownership
Whether purchasing a resale property or a fresh one, there are incidents where the property has changed hands or has multiple owners from whom the flat has been bought by the seller. Any existing differences between them or claimants of the property might be a hindrance to your ownership in future. Make sure the flat you want to buy, has no such issues.
Take a Bank Loan
It is always safest to purchase a flat through a bank loan since banks conduct rigid screening of all the legal documents to approve its authenticity. More so when you are purchasing the flat from the 2nd or 3rd generation of the building’s developer.
Planning to book from any of the flats for sale in North Kolkata? Get in touch with transventor.com for risk-free property transaction with the help of our expert legal and financial assistance so that you are never at loss.