Are you ready to buy a property now? After a long house hunting process with so many lookups at various locations, you might want to buy the one which meets your necessities. It is time to legally register the property in your name. Have you thought about the basic checklists you need to consider before signing the papers? Well, here is the list below right away for you.
The important factor estimating the value of a property is the title of it. Be it flats or independent villas in OMR or any other regions in Chennai, one must consider these things before proceeding further. It is your responsibility to make sure that the title of the property is worthy of a clear title.
Checklists – During purchase of flats
# The promoter must have the display or explain the plan at the site in detail to the customer.
# Check out whether flats are constructed according to the plan they explained you.
# Ensure whether the CMDA or any authority issued the completion certificate after the building construction process is completed.
# Check out that the promoter or the landowner does not have any rights on the open spaces and UDS of the land after it is transferred to the occupiers.
# The promoter must transfer the undivided shares of land to the occupiers for sure.
Checklists – During purchase of villas or individual house
# Ensure whether the owner has right over the property they sell you.
# Check if the property has proper and clear encumbrance certificate issued by proper authorities.
# Make sure the implementation of the master plan is proper and same on the land when you visit the place.
# Verify whether the promoter has CMDA approval issued by relevant authorities legally.
# Make sure the implementation of the plan during construction is same as they showcased and explained you.
# Check for the completion certificate in case if the individual house or villa is already constructed.
# In case of under construction, check for the approval of CMDA or DTCP.
# Make sure the other areas in the master plan are handed over to the local bodies.