The real estate costs in your metropolis are hovering. You’ve waited too lengthy to personal your personal condo. Bored with staying in these rented homes? The real estate costs have lastly crashed…

A Golden alternative to purchase your personal condo. You’ve simply seen a good looking condo which matches your expectations. Time to lock the deal. Keep in mind: Haste makes waste. At all times examine your paperwork earlier than shopping for your condo.

Check out the title deed:

Examine the title deed of the land on which the condo has been constructed. The title ought to be clear and marketable. The title deed (proving possession of the land) must be within the palms of the vendor of the condo.

The title deed offers you the historical past of possession of the land. Who the earlier house owners had been? The change in possession of the land (as it’s transferred between house owners as a present, sale or an inheritance).

Examine the sale deed of the condo:

A sale deed of the condo offers the vendor the proper to promote. It transfers the possession of the condo from the vendor to you. Ensure that the vendor of the condo has the sale deed (The precise to promote the condo to you).

You the client must pay the stamp responsibility and the registration prices.

The constructing approval plan:

The constructing must have the approval of the Municipal Company (Authorities approval).

The vendor of the condo has to register the paperwork with the Municipal Company to get the mandatory approval.

Ensure that the condo you intend to purchase has the constructing approval plan accredited by the Municipal Company.

Examine for the Encumbrance certificates:

You must examine if the condo you purchase has an encumbrance certificates. The condo you purchase might have been mortgaged as a safety (debt) to a bank.

You’ll have to examine the sub-registrars workplace for any encumbrances on the condo saying it’s free from mortgage and litigation 아파트 실거래가.

Land use conversion:

Land is transformed from agricultural land to a non agricultural land by a Deputy Commissioner. The transformed land is named DC transformed land.

The Deputy Commissioner checks that the land has been accredited by the Division of City and Nation Planning for land use conversion after which it’s transformed.

Your condo must be constructed on land which has been DC transformed.

The Constructing Completion Certificates:

The constructing wants to stick to sure norms of building.

The peak of the constructing: Shouldn’t overlook a navy set up.

Needs to be at a sure distance from the highway.

Needs to be appropriate for habitation.

Occupancy certificates:

Your condo will get the occupancy certificates when it has the mandatory water, sewage and electrical connections.

The occupancy certificates additionally proves that your condo has been constructed in line with the constructing structure accredited by the Authorities.

The development of your condo is authorized solely as soon as it obtains the occupancy certificates.

You must examine all these paperwork earlier than making a remaining determination to buy your condo.