sunil (Techie) 13 February 2012

Property selection/buying guidance

Hello All,

I wanted to buy 1acre of land in malur/doddballapur surroundings, I contacted several brokers but some how I feel the information they provide is not trustable... please provide your wise guidance as asked below

Purpose of purchase is to setup a farm or small factory after 10 years

What is the exact procedure to buy the land ?

what precautions am I suppose to take as part of propety, seller & doccument genuinity verification ?

what is khata, encumberance certificate ... & all other doccuments required to execute a leagally valid deal ?

what if the seller inherited intestate property & intends to sell the property without valid successor certificate & relinquishment deed ?

How to verify if the property had ever been litigated from the time the first owner sold the property to till date with the present owner ?

I heard, the registration of property is often executed based on the govt rate of the property ... therefore the question is what would be the doccumented evidence for the extra money paid ?

ex : if the Govt property cost = 5lakh but if the seller sold the property at 9lakh, on registration papers the amout payed by the buyer will only be 5lakh.... is it necessary to make the payment via crossed cheque

looking forward to hear from you

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4 Replies

adv. rajeev ( rajoo ) (practicing advocate) 13 February 2012

Before going to purchase the property verification of following documents are necessary:

1. Property Extract : It shows that in whose name property stands

2. Encumbrance certificate : It shows the encumbrances on the property

3. You have to verify how the owner got the property. Whether it is ancestrl or self acquired.

4. Before purchasing the property it is better to take the advise of an advocate.

5. If all the documents are correct , it is better to publish the notice in the local news paper calling for the objections from the public to avoid the future litigation.

adv. rajeev ( rajoo ) (practicing advocate) 13 February 2012

If it is for more than govt., fixed rate then you will have to pay the registration chages on that declared amount. It is better to pay the amount by cheque.

sunil (Techie) 13 February 2012

Thanks a lot ... I'm in hurry now ... I'll get back if any further queries

madhu mittal (director) 15 February 2012

Respected sir rajeev ji

5. If all the documents are correct , it is better to publish the notice in the local news paper calling for the objections from the public to avoid the future litigation.

In law or where it is written about this notice for calling objections from the public, I want to study in depth on this point what is its effect and whether it is mandatory etc, please guide