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Which 12 documents should be maintained before purchasing any property?

By admin,

The 12 documents which we should keep in mind before purchasing any property because we have often seen that if we don’t have the proper documents or there are any mistakes in the document, or if we buy a property that is already sold to someone who has the right over it. Then the property gets involved in court cases and all your earned money goes to waste. So, we’re going to talk about these documents.

The most important document you have to look at is the Title Document. The meaning of this document is, from whom -soever you are buying the property means the seller who is selling you the property, how that person got the property.

Generally, the property comes in 3 ways,

First is Sale Deed, this means that the person who sells the property to you from where he gets that property, will be in the sale deed so you have to look at the original document. If the person selling you the property has the sale deed. so, see it once.

Secondly, if they don’t have a sale deed then there is a gift deed meaning the seller has got it from someone as a gift so you have to look at the gift deed, and see if it is properly executed and registered. Or else if the seller has bought it from any UID or corporate instruments, there is a Conveyance deed. This deed also can be seen for confirmation. I want to say that, the person from whom you are buying the document should have the source of the document. So check if that document is valid or not.

Here, the important thing to note down is, that whenever you buy or sell the property then the General Power of Attorney (Aam Mukhtar Nama) is used to buy or sell which is illegal. In law, it is not permitted. Usually, while saving our stamp duty, we sell our property through GPA (General Power of Attorney), which is not valid. This means if you are buying property from someone who has GPA or has bought that property using it from someone, then don’t buy that property because the day when there is a dispute your property will not be considered valid. Supreme Court The landmark judgment named Suraj Lamp came and the supreme court clearly said that if doing any property transaction If not done through your registered sale deed or not through a registered gift deed So according to the law, we will consider it as non and wide. To do so is a crime, and it is illegal. So that’s why never buy a property through the power of attorney. So these are the important things about the first document.

The second document is the Channel Documents. It means when the property is sold from an ‘X’ person to ‘Y’ and from ‘Y’ to ‘Z’. So whenever this property is sold and a registered deed is made or any trial is made in which everything is checked in it. The property, the person sold to you, from where he got that property, and the person from he bought it from where did he from all these things are checked in it. That’s why you have to look at every channel document. If they got property from a will, then do that “will” have their name, or after getting the will, they have registered their name on it. There are many things that we have to look at in the channel documents.

The third most important certificate is the Encumbrance Certificate. This certificate tells you about the property which you are buying and has any mortgage, meaning if any bank loan is taken, or any tax is pending or has any penalty on it. Generally, we don’t look at this certificate and believe in anyone, but I request that whenever you buy any property, first, go to the registrar’s office and in Form no. 22, generally every state has a form no.22, but it also can vary, in form no.22 fill in all the details of the property. There are some fees charged by the government so pay those nominal fees and you will get all information about the property, who has bought it, who sold it, taxes on them, and any pending penalties or any type of mortgage or loan taken.

If there is nothing pending, then through form 15, you will get it back and if any taxes are pending they will give you information through the forms system. But there is one limitation. If the Department has no information available then they will not be able to provide the information. so, we can’t rely on it fully but for most things, if we try to obtain information about it, we can obtain it and will not suffer from any fraud.

One more thing, here Generally, we think that, do we need a lawyer. when we buy any land, here I will suggest that if you buy any big land where you’re investing more money then engage or hire a lawyer and say them to make a title search report. In the title search report, the income tax certificate is checked and they give you information about the land you are buying is free from taxes, penalties, etc.

Fourth is the Occupancy Certificate, it is not important that in every situation you will get the occupancy certificate, generally, if anyone buys land from a developer, then they get the occupancy certificate from a particular UID or the local government, that the building you have built is according to the sanctioned plan.

Fifth is the Possession Letter, if you are buying any flat then you need to look if that builder has the possession letter or not. This is given by the government when all the rules and regulations are followed.

Sixth is Mortgage, you have to look at that, the property you are buying has not kept any mortgage in exchange for a loan if there is a mortgage it is not useful at all. So, you have to check if it has a mortgage on it or not and for this, you can make a title search report through your lawyer or you can apply for an income tax certificate in the registry.

Seventh is Tax Receipt, Generally, on every land, the local municipality takes land taxes, you have to check that the previous owner has fully paid the taxes or not, It will save your liabilities and you will also know that in the local department who has the right over this property?  So, if the previous owner is trying to do fraud with you so with the help of a tax receipt you can know right over this property.

The eighth is the Utility Bill. you have to look if the previous owner has paid all the utility bills.

Ninth is the Car Allotment letter, if you are buying any building like in metropolitan cities, there is a car allotment letter for parking the cars. So, you have to look for a car allotment letter and if it is not there then in future you may come across many problems.

The tenth is for the people who take any flat in a colony or building, where a Residential welfare association is available, so you have to look for NOC, if the previous owner has NOC or not because many times we don’t pay maintenance charges in society, and if that is not paid then the next the owner will have to pay that liabilities. That’s why important to look at whether our previous owner has NOC from the residential welfare association or not.

The eleventh document is a Mutation, (Jama Bandi). Although from the mutation document, we will not know who has right over the property it is a shred of additional evidence, you have to check if where ever you are buying the property, the government documents have the previous owner’s name registered or not, and when you buy that property register your name in it. This is called a mutation. To describe it, it means that in local records your name should be registered. means your name should be there on your property

The twelfth and one more important document is the Conversion Certificate, Generally, we say that There are two types of land – One is Commercial land and the second is Agricultural land, you cannot build any building commercially on Agricultural land, but if the person selling the property says that it is commercial land then you have to verify if that person has converted it too commercial from agricultural. If without ensuring it, you bought that property then you cannot use it commercially and if you want to use it you have to pay a hefty amount to the local department. so that it is converted to commercial from agricultural land. So, it is important to look at the conversion document.

So, there are these 12 documents, in which if you pay attention, then you will not be tricked by anyone and if you didn’t pay attention to it, there is a chance that you may get involved in court matters. Now you must have become aware, that whenever you go for buying any property, you will look for these documents.

 

CategoriesFlats

High rise vs Low rise

By admin,

If you’re in the market for a new Flat but you’re having trouble deciding on the type of place to rent besides price location and amenities you’ll also have to decide whether you want to live in a bigger or smaller building to help you with your Flat search. we prepared a brief description of the differences between high-rise and low-rise Building Flats

What is a High-rise v/s Low-rise Building Flat?

Before we start our comparison let’s clarify what we mean when we talk about a high-rise Building Flat and a low-rise Building Flat, in short, a high-rise typically refers to a building over a certain height or number of stories the exact classification varies by country and organization. For example, in India, a building greater than 75ft (23 m), generally 7 to 10 stories, is considered a high-rise. however, in the U.S a high rise is a Flat building with a height of at least seven stories as defined by the national fire protection association high rises as Flat communities of 10 plus stories in height there’s also a maximum height above which a high rise becomes a skyscraper, this is typically any building over 40 to 50 stories. high rise versus low rise which is better now that we have an idea of what is a high-rise Flat it’s time to talk about why you might want one advantage of high-rise Flats.

  • They offer the best views if you want stunning views of saying the Zirakpur, Chandigarh, and Mohali skyline, View of the Shivalik range mountains, you’re only going to get that in a high-rise flat.
  • They also get more natural light.
  • They are located in the city if you work in the big city or simply love shopping and partying there living in a high-rise Flat is the easiest way to cut down on your commute.
  • They provide dormant security another advantage of high-rise living is dormant security and other staff that are there to make your life easier and safer they put the high in high rise Flats.
  • They always have elevators if the idea of climbing five-plus stories of stairs makes you cringe don’t worry because high-rise Flats always have elevators most buildings have more than one to cut down on wait times.
  • They offer more leasing options and vacancies if you’re looking for a flexible lease like a month-to-month arrangement you’re much more likely to find it in a high-rise.
  • Furnished Flats are another option often available in high-rise Flat buildings.
  • They have easier utilities and maintenance most high-rise Flats are already wired for cable internet and the like so getting set up is as easy as a phone call.
  • Maintenance requests are often faster too since they usually have an on-site property management office.

Advantages of low-rise Flats

  • They are closer to the street if you’re always on the go or have an elderly or disabled person living with you you’ll appreciate how much easier it is to access your low-rise Flat this can be even more important in the event of an emergency like a fire or serious health issues.
  • They have more amenities and parking unless we’re talking about luxury high-rise Flats, low-rise Flat communities typically have more amenities like pools and clubhouses and more parking spaces.
  • They provide better access to green spaces included in those amenities are plenty of green spaces low-rise Flats are much more likely to feature landscaped grounds, gardens shade trees walking paths, and other goodies for nature lovers.
  • They are located in residential areas low-rise Flats are usually found in the outer residential neighborhoods though this may add time to your commute if you work in the city center there’s typically less foot and vehicle traffic less pollution and a greater sense of community.
  • They offer greater peace and privacy while some people love the hustle and bustle of the big city others just want some good old peace.
  • The location and smaller size of low-rise Flats make them a better option for privacy, they may be cheaper and may offer.
  • Negotiable rent although a low-rise building has fewer units, they’re usually cheaper to rent because of its location and landlords are much more willing to negotiate the price of which floor should you live on.

The pros and cons laid out above come with one important caveat some of the advantages and disadvantages of a high-rise Flat can change depending on the floor you’re on, for instance living on the first floor of a high rise provide equal, if not better access to the street as you’d have on say the third floor of a low rise. On the flip side, that first floor Flat isn’t going to have the good views normally associated with taller buildings, if you’re on a higher floor like the 30th you may have more privacy less noise, and cleaner air than the ground floor. In a low rise, the perks of living on a higher floor better view more privacy more natural light, less noise, fewer insects, and better ventilation. The perks of living on a lower floor are easier street access less walking and waiting lower energy costs more green spaces insight.

 

CategoriesFlats

Mohali vs Zirakpur: Which is Right for You?

By admin,

Mohali vs Zirakpur: Which is Right for You?

Anyone who’s decided on moving to Mohali or Zirakpur will have a host of different questions to settle. For most newcomers, the two most obvious Locations are Mohali and Zirakpur. Both are practically synonymous with each other and offer the best opportunities for career advancement and social life. But they’re both also different in the lifestyles they promote. Mohali is a planned city like Chandigarh and has wide roads whereas Zirakpur is not that planned but the new development is planned. Previously, the price gap between the two made Zirakpur an obvious choice for those who couldn’t afford a Mohali flat or House. But now, the price gap is much smaller, if you compare the price of a flat in these cities.

So, how do you choose between these two cities? For every new customer, that decision will be a highly personal one based on a range of factors. Below, we’ve outlined the biggest ones for you to consider when deciding which borough is right for you.

TABLE OF CONTENTS
  1. What is Your Preferred Lifestyle?
  2. What Kind of Building do You Want?
  3. What are Your Commuting Needs?
  4. The Costs of Living
  5. Final Thoughts

What is Your Preferred Lifestyle?

While the crowded place or city center does make it (relatively) easy to reach all local shops for daily needs, where you live will be the place where you spend most of your time. With that in mind, you must choose an area that fits your lifestyle preferences.

Generally speaking, Mohali tends to have a more open and planned area. The streets are usually wider, and you will find both high-rise and low-rise buildings. The pace of life also tends to be slower, and peacefully living away from the city hustle. That’s not to say you can’t find faster-paced areas, like PR7 Road and Upcoming IT park. But broadly speaking, the vibe is far more relaxed and peaceful than in Zirakpur.

Whereas Zirakpur, the beating heart of the city where the fast pace of life never seems to dwindle. Where you’ll find most of the city’s street food stalls, local Businesses, and Local grocery & other shops. In terms of easy accessibility, nothing beats it. In zirakpur, you will find both high-rise and low-rise buildings but low-rise buildings are more if you compare with high-rise flats.

What Kind of Building do You Want?

Although you can find pretty much every building type in both cities, whether low rise, high rise, or townhouses. All the building have their location like you will find the high-rise and low-rise buildings on PR7 road, Ambala-Chandigarh highway, and townhouses in old zirakpur. And in Mohali, Aerocity and Sectors have townhouses and high-rise buildings so you can find all kinds of buildings depending on location. so think about what kind of building you’d prefer to live in and focus on those areas and locations.

For Mohali, if you’re looking for wide-open spaces and Wide roads you can concentrate on Aerocity and Mohali sectors. If you are looking for the plot so you can build it the way you want then Mohali gives you a variety of choices for the location, where you can find well-planned sectors like Chandigarh. And you can find independent houses also. Mohali also offers some luxury high-rise building flats like the Marbella grand, the medallion, jlpl falcon view, etc all these projects are at a prime location in Mohali and provide you all the luxury which you are looking for. If you have an Acrophobia and looking for some low-rise building you can find that too, like aerovista, canvas, etc. In Zirakpur, you’ll also find a wide variety of housing options same as Mohali. If you have a tight budget and looking for your own space to live in, Zirakpur can provide you with that.

What are Your Commuting Needs?

Most of the people don’t own a private vehicle and instead rely on the city’s vast public transportation system. It’s pretty effective at getting around, but it does have its limits. Anyone who’s moving to the city should pay close attention to local transportation and reach. Generally speaking, the ola and uber cab facilities are very good but sometimes you have to use local auto riksha and bus service. So you should keep in mind having all the options.

When looking at apartments, ask about walking distance to the nearest bus stand, or auto stand. You can also research other transportation options online, such as ola and uber cabs.  Also check the surroundings for local market and shops, which you need on daily basis.

The Costs of Living

There isn’t that much of a difference between the two cities in terms of living expenses. Both the cities have the same expenses. Whereas in zirkapur all the local market is nearby so you don’t have to travel more to buy your daily needs but you have to travel more in Mohali because there are no local shops like in zirakpur, you have to go to the mall or sector market for your daily stuff.

As for real estate prices, there’s not much difference either, though there is one important one. In Zirakpur, the average size of a flat tends to be larger as compared to Mohali at the same price range. So, for rent purposes, you will get a very good deal in zirkapur.

Final Thoughts

Whatever choice you make, Zirakpur or Mohali, either one is an amazing destination to call home. Both are filled with things to do, and you’ll never be more than a cab ride away from either one. Which one you choose to call home will highly depend on your priorities and needs. What are your future goals? How do you want to spend your free time? What kind of home are you looking for? How far is your workplace from your home? An experienced real estate agent can help you answer these questions and help to find the best place for you. Once you know where you might want to live, it’s time to get out and explore the place by yourself.  And contact a real estate broker for further help to buy the property.