The stories of dishonest builders and developers defrauding property buyers deter people from saving their entire life’s salaries to purchase their dream homes. Even though enacting new laws and regulations like GST and RERA has given purchasers more power, urban myths about property fraud continue to terrify most buyers in many areas. Numerous strategies exist for vendors to defraud customers. When purchasing resale plots in the Yamuna Expressway and sending money, the buyers must exercise caution. The most crucial documents that need to be thoroughly examined before purchasing a property in India are listed in this article.
- Sale Deed: When buying a resale plot in the Yamuna Expressway, the sale deed is the most crucial document to inspect. According to the legal document, the seller transfers ownership, title, and other property rights into your name. Before signing the documents, one should double-check the property title, review the terms specified on the deed, and check them all out.
- Mother Deed: If you wish to sell your property for more money, the mother deed is a crucial legal document supporting you. You might build a stronger proof of your present ownership by using this document to find out who the property’s prior owners were. Knowing who owns the land at any given time might be very useful.
- Power of Attorney: The legal document that grants someone the authority to sell, lease, or mortgage property in their name and gets financial rewards is known as a power of attorney for any property. To give you all of your legal rights, it is crucial to ensure that a power of attorney is properly registered.
- Conversion Certificate: In India, the government would give a conversion certificate if you wanted to convert farmland or agricultural land into real estate. Without this document, the property might still be regarded as farmland, prohibiting any building there. Additionally, the tehsildar must give a NOB or no objection certificate.
- Certificate of Completion: Following the adoption of RERA, the certificate of completion has also been declared a requirement for purchasing real estate in India. By verifying this certificate, you may be sure that the home or structure you’re purchasing has been properly finished by all applicable regulations and is constructed following the approved plan.
- Occupancy Certificate: After an inspection and approval by the inspector, this certificate is given to the building. This certificate attests that the structure is in a habitable state and that people may occupy it.
- Encumbrance certificate: If the property has been used as collateral for any home loans, an encumbrance certificate will provide you with all the information on the property’s change in ownership.
To ensure that your resale plots in Yamuna expressway are legal and that you may legally get the right to them, you must examine this paperwork regularly. You may ensure that you engage in the legal business and avoid fraudulent transactions by checking these documents.