Fund your purchase only if the property papers are clean. These are few points that you can consider before buying any property:-

New/Pre-owned House Purchase:-

1.      It will be wise to get the papers verified by a lawyer before going ahead.

2.      Make sure to check the title papers of the property, especially if it is inherited or jointly held, and take a bank release in case it was at any point of time under mortgage. To double check, you can peruse the telephone and electricity bills as they are always issued in the name of the legal owner

3.      Also, take a no dues certificate from the seller at the time of purchase to ensure there is no water, electricity or any other pending bills with the authorities

4.      For buying a used house property, suggest you to obtain the documents of title deed (a legal document proving a person’s right to property), the encumbrance certificate (which proves that the land is not under legal dispute) as well as the release certificate’s per my knowledge these documents are quite important in the event of buying a property in order to avoid further complications.

5.      As a primary rule, check and verify if the seller owns the property and has a right to dispose it off. Please go through the house agreement carefully... Alternatively, you can check the housing society maintenance bill if they have any, which contains the owner's name and property tax details.

6.      Any pending litigation on the property should also be a signal to hightail it. This is because you are bound by the result of the suit, and if the court establishes that the seller was not the rightful owner, you will have to hand over the property to the winning litigant. To check for pending litigation, go through the awaiting registry at the sub-registrar's office, as it will contain the owner's name if there is pending suit.

7.      In Mortgaged properties, the original documents are sure to be with the lending institution. So, if the seller fails to show you the originals, its reason enough to be on an alert. If the seller claims he has cleared all debts, ask him to show you the bank's original discharge letter. Some experts are of the view that a clear title is not assurance enough and one should consider contacting past owners to rule out fraud. As a safety measure, publish an advertisement in the newspaper stating that you wish to buy the property and inviting objections.

Under construction Projects:-

The one thing you should do in the case of projects that are still under construction is to make sure that the builder has all the necessary approvals in place, without which it would be considered illegal. These are few tips you may follow while purchasing a house for under construction projects.

1.      The first of these is the permission to develop land into a residential complex. Builders need to get government approval to convert agricultural land or even land specially designated for industrial purposes into a residential area. .

2.       For new constructions, land title should be clear and the builder should have taken all approvals and permits from the civic authorities in terms of construction. If the builder starts the project without securing this approval, the entire project is illegal.

3.      In addition, there are environmental and municipal clearances to factor in. For instance, the builder has to ensure that his project does not interfere with the urban and town planning, and that it has unrestricted road access.

4.      Next, you need to find out if the builder has the authority to transfer the undivided share of land to each flat owner and the entire plot to the society, on completion of the project.

5.      Make sure you ask the builder to include all the promised features in the agreement and make provisions for penalty in case of non-fulfillment. And also watch out, some builders may also fineprint few clauses in the agreement for some alteration in the model agreed. To be safe, take a look at the approved construction plans and ensure if they match what has been promised to you. While the approved construction plans have to be mandatorily displayed at the construction site at all times, all the important approvals should be available at the builder's office.

6.      Lastly, never forget that there's many a slip between the blueprint and the final product. The developers tend to charge a premium for additional features, such as a swimming pool or designer furniture. Always consult a lawyer for all the legal aspects of buying a property in case if any additional care is needed.

However Few research report on 'Parameters for Buying a Home' mentions that you should also ensure the builder does not reserve any right on your portion of the apartment, such as balconies or terraces.


Land Purchase:-

The documents to be checked in a land purchase are — the title deed (a legal document proving a person’s right to property), the encumbrance certificate (which proves that the land is not under legal dispute), the release certificate (in case the land was previously pledged to someone else), and the surveyor’s report (to establish its exact dimensions).

Finally the above mentioned details are only a few tips for buying .Always use your knowledge and expertise to finalize on a property buying.