The buyer needs to have a blue print of the building plan/layout, certificate of commencement, certificate of completion, NOC from the builder, and permission of non-agricultural use of land in case previously the land was an agricultural land. In cases of resale, previous sale deeds are necessary. All these documents should be thoroughly examined and notarized by an advocate.
Before signing the purchase agreement, the buyer should check basic details like base price, additional charges, club membership, carpet area, amenities, taxes applicable, payment mode, occupation certificate, building insurance, schedule of possession and read the penalty clause in case the project is delayed.
everal aspects should be considered while purchasing a house like the area and its locality, availability of basic and civic utilities, transport facilities, construction quality, carpet built-up and super built-up area of the house, provisions of basic features like water and power supply, reputation, and most importantly, the title of the property.
There are three ways to own immovable properties in India
By Means of Purchase:
Under the general permission granted by RBI, an NRI/PIO can purchase residential properties in India if the person has a valid proof of address in India or an OCI card.
By Means of Gift
NRI/PIO can acquire a residential property by way of a gift from a person in India or an NRI/PIO.
By Means of Inheritance: An NRI/PIO can acquire residential property if they inherit it from a person who is a resident of India or from a resident outside India.
Non-residents can buy residential or commercial property but not farmland or Agriculture landin India.
Banks registered with the National Housing Bank can provide loans to NRIs for buying residential property in India.
Each real estate market is different from the other. They differ from city to city and area to area. A property consultant can help the seller get a clear picture of the conditions of the local real estate market in your locality.
Not preparing their home for sale can put the seller at a huge disadvantage. They should make sure that their home odourless, clutter-free, and with freshly painted walls and is presented in the best possible lighting conditions. Also installing a few pieces of new furniture and tapestry can go a long way in making the best first impression on the
Everything. Be honest. Your buyers should be aware of every major or minor detail about to the house. Be upfront about problems with the roof, leakages, electric sockets, etc. Fix them if you can. This can avoid any unnecessary legal steps on part of the buyer.
There is no generalised answer to this question. Factors like locality, availability of basic and civic utilities, transport facilities, construction quality, the carpet built-up and the super built-up area of the house, provisions of basic features like water and power supply, the age of the building and the reputation of the builder affect the value of a house. However, only a top real estate consultant can help determine the exact price ofa house.
You will have to provide the original Sale Deed, Title Deed, relevant Tax receipts, andEncumbrance Certificate.
Sellers in will be required to fill the set of forms under the registration rules of their state. These forms are to be filled and filed at the time of registration of Sale Deed.
The sale will be considered formalized when the seller has received the entire consideration amount, the registration has been carried out and the actual possession of the property has been granted to the buyer.
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