is pan details are necessary while selling land
which is with of 8.1 LAKHS
The Deed Title: Check if the deed title is in the name of the seller and he has the full right to sell it. Insist upon looking at the original and not just a photocopy.
Encumbrance Certificate: This document can be procured from the sub-registrar's office where the deed is registered. It declares that the land is free of any legal hassle and unpaid dues.
Property Tax Receipts and Bills: Ask for the originals again and ensure all the payments have been made as this could lead to legal complications and more expenditure in the future.
Apart from these, you must also check that the loans on the land are repaid with a release certificate issued by the bank and get the property valued for the exact land measure.
Documentation
To purchase a piece of land, the following documents are required from the seller's end:
- Original Land Deed of the current owner, known as the 7/12 document and also the previous owners with the proper names on the title.
- An Encumbrance Certificate from the Sub-registrar's office for the last 30 years at least.
- Release Certificate from the bank, stating that the loan on the land has been completely repaid.
- Original property tax receipt and other bills relating to the plot.
For the buyer, the documents required include:
- The Title Deed after it has been transferred to the buyer's name written by a Government licensed Document writer.
- Receipt from payment of stamp duty charges: Now, you can get your land registered in the sub-registrar's office or have your name added in the village office records, as may be the case.
- House Plan Approval: The State Municipality Act requires that a prior sanction be obtained by a person who wants to undertake construction activity for building a new house or modifying an existing one. The process has been made automated in most states and isn't time consuming. Your contractor, engineer or architect needs to take care of this. The architect needs to submit the Building Plan along with a prescribed fee for getting the building plan approval done.
