If the case is of investing on property, no one should jump blindly over it unless ensuring all the possible safeguards. Today’s advanced buyers are highly are considering some precautions to ensure a fool proof successive investments on the property. If you are new in this world of real-estate investments and planning to park your money on it then read this below mentioned safeguards to be ensured before sealing a property deal.
Intimation of Disapproval:
Before you are going to fix your deal with the developers, you need to check whether that have dot the permission from the local municipal authorities for the Intimation of Disapproval. There are cases that many developers start selling their projects without taking the Intimation of Disapproval certificate from the local authority. So, check before you fix it.
Commencement Certificate is the initial part to be ensured before investing on any property. This certificate is mainly given by the local municipality to the developers after approving certain facts like-area, environment of the project, fire-safety, floor lay out structures and many more. Hence, checking for CC ensures you are on the right track.
Once getting the CC from the municipality for the floor planning layouts, areas and other inventory sides, developers cannot change the structure. Hence, before buying the property check the developer’s brochure with the blueprints and ensure the ‘Terms and Conditions’ mentioned in the approvals.
Home Loans Approvals:
Whether you are an aspiring buyer or seller of the property you need to check the list of banks approve for the home loans. And apart from checking the list, also ensure the Approval number listed in the Approval letter.
Clarify the title of the land:
Before buying the property, be sure of the title of the land you have chosen. Having a legalised title of the land ensures one of having the complete ownership on that land. There are cases, that many NRIs who have not checked the title name later faced legal issues.
In India there are many places which have acute problem in power supply. Therefore, when buying property, make sure you have clarified uninterrupted power supply system to that area.
This is also a legal certificate given by local municipality to the developers for clearing for providing basic facilities like water supply, sewage system, power supply and other sides for a proper building structure. So, before you sign on the final documents, make sure you are checking this certificate too.
So, these are some important safeguards you need to check, when it comes to buy property. And if you want to have in-depth details you can run a search on real-estate websites in India.