Checklist for buying a residential property?
Market Trends about prevalent rates of property in the vicinity and last known transactions b) Ask for photocopies of the all deeds of title related to the property to be purchased. Examine the deeds to establish the ownership of the property by seller, preferably through an advocate. Ascertain the survey number, village and registration district of the property as these details are required for registration of the sale. Previous encumbrances and loans, if any on the property must be cleared before completion of purchase of the property. The title of the Vendor to the property must be clear and marketable. c) Check for approved layout plan and approved building plan with number of floors. d) Clearance from Municipality, Electricity, Water, Pollution, Lift authorities. e) Check the building by-laws in that area to verify any issue with setback, side setback, height, etc. f) Confirm transfer fees, stamp duty and registration charges to be paid on purchase of the property as well as outgo
