Which are the documents one needs to check while purchasing a property in South Bangalore?


Posted May 28, 2019 by blogsobha

Sobha Limited has a good record with regard to timely delivery of the apartment with all the formalities as well as the quality of high standards with their successful luxury projects in Bangalore.

 
Finding a dream home these days is tricky which requires countless site visits and weeks of research. But, if you have finally found your perfect home and eager to sign the contract, you still need to make sure that you have checked out all the necessary and important documents before finalizing your property.
We bring you a helpful guide which includes the list of documents you need to check while purchasing a property in South Bangalore or elsewhere which help you prevent any unforeseen issues from cropping up in the future.

Final Price of the Property

Don’t get fooled with the price advertised by the builder in their websites. The fact is that the cost of the real estate in Banglore as specified by the builder doesn’t always include additional charges such as service tax, clubhouse membership fees, maintenance charges, parking fees, etc. If you are willing to buy luxury villas in Bangalore with a special view, some builders might even charge you extra for that. It is advisable to discuss all the charges that builders are going to incur so that you can find out all the extra costs and able to invest your hard-earned money on it.

Title Deed

One of the most important document is the Title deed which establishes ownership over the land and thereby the flat which helps to trace the past ownership of the land. It is your responsibility to check the title deed and ensure that there are no legal disputes associated with the property.

Also, you must check for general power of attorney where the right to sell the land to others or construct an apartment is granted to the developer by the owner of the land.

Buyer-Builder Agreement

You will have to sign a three-way contract between yourself, the builder and the bank you are receiving a home loan to pay the remaining amount of the property value. You are required to pay a certain amount as token money to finalize the agreement at the time of booking house. Be more careful and read the fine print of the contract as many buyer-builder agreements have terms and conditions which specify that the builder can raise prices of the house before handing over if the market fluctuates in that period.

Approvals and Licenses

Here are some of the approvals and licenses you should check before purchasing real estate investment in Bangalore which prevents you from getting involved in any legal hassles.

• Sale Deed
• NOC by relevant local bodies
• Environmental clearance (if applicable)
• Encumbrance certificate
• RERA certificate

When it comes to choosing residential property, consider Sobha Limited which provides a perfect home for your family. Sobha Limited has a good record with regard to timely delivery of the apartment with all the formalities as well as the quality of high standards with their successful luxury projects in Bangalore.

Reference Url : https://sobhablogindia.wordpress.com/2019/05/21/which-are-the-documents-one-needs-to-check-while-purchasing-a-property-in-south-bangalore/
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Issued By SobhaBlog
Phone 80 46464500
Business Address Sarjapur - Marthahalli Outer Ring Road, Devarabisanahalli, Bellandur Post, Bangalore
Country India
Categories Real Estate
Tags luxury villas in bangalore , property in south bangalore , real estate bangalore
Last Updated May 28, 2019