Introduction:
Real estate involves large sums and lifelong commitments. Therefore, understanding the legal process of property buying is crucial to avoid fraud and ensure smooth transactions.
1. Verify Property Title
The seller must have a clear title, free from disputes or encumbrances. Ask for the sale deed, title document, and encumbrance certificate.
2. Check Land Use & Zoning Permissions
Confirm the land is classified for residential/commercial use as applicable. Avoid buying land meant for agriculture or under government projects.
3. RERA Registration
All new projects must be registered under RERA. This ensures the developer follows transparent practices and gives you legal protection.
4. Sale Agreement & Deed
The sale agreement should clearly state payment details, timeline, and penalties. The final sale deed is registered at the sub-registrar’s office.
5. Due Diligence with Banks or Lawyers
Hire a lawyer or go through a bank’s legal team (if applying for a loan) for due diligence. This step is essential for peace of mind.
6. Mutation of Property
After registration, mutation is required to update land records and transfer ownership for tax purposes.
7. Possession Certificate (For New Builds)
Ensure the developer provides the possession certificate and occupancy certificate after completion.
8. Collect All Original Documents
You must collect all original documents like sale deed, payment receipts, NOC from builder/society, and registration proof.
Conclusion:
Legal clarity is the backbone of a secure property purchase. Consult legal professionals, and don’t skip documentation checks to ensure a stress-free experience.
