Property investments are extremely capital-intensive. No matter whether you plan to invest in a land for sale in Manali, Thandalam, or some other city, any mistake in the process can cause a great deal of trouble down the line. The property purchase process requires a good deal of effort and research.
You need to exercise caution, and properly examine and verify the property documents before making any transaction. Here are some of the most important documents you need to check before buying a residential plot:
Sale deed: The very first document you need to verify is the sale deed as it establishes the ownership of the property.
The seller would provide a copy of the sale deed, and you must check whether it has been registered with the sub-registrar office or not.
You need to make sure that the seller has a valid and clear title to the land, as well as the property has not been encumbered in a manner that may affect your ownership rights.
Khata certificate: The second document you need to verify is the khata certificate/extract. It would provide you with a good idea of the owner details, property details, and how much area each plot takes up in square meters. This would help you to decide which plot effectively suits your needs and budget.
- No-objection certificates (NOC): NOCs would help in verifying that the project adheres to zoning regulations and relevant environmental norms.
- Encumbrance certificate: This certificate provides a history of transactions associated with the property, indicating whether it has any existing loans, liens, or legal disputes that could hinder the transfer of ownership. You must verify that the property is free from any encumbrances that might affect your ownership. Encumbrance certificate can help you to effectively plan for future developments and maintenance works that might be needed after buying the property
- Receipt of property tax: This document provides evidence that all the relevant taxes have been paid by its previous owner. It makes sure that there are no dues left and establishes the legal status of the property.
Buying land for sale in Thandalam, Poonamallee, Porur, Avadi and other parts of Chennai would be a smart, but complex endeavour. To lower the risk associated with the property purchase process, you need to check and verify the documents mentioned above.