1. Invest your hard earned money in projects promoted by renowned developers having proven track record. Do not go by glossy brochures or attractive advertisements. Do not believe the words, ‘Financial Institutions approved Projects’.
2. Check up the documents with an experienced Advocate. Ensure that the documents of title of the property you intend to purchase are clear. Defective title will create problems at any point of time.
3. Always go for a property, which has a resale value.
4. Ensure that the building has been constructed as per the sanctioned plan and if there are deviations they should be within the permissible limit. The property should not be in a low-lying area or in a filled up water body
5. You may always rope in the services of a reputed real estate agent and fix his commission well in advance.
6. Purchase the property in a developing area. The value of land will appreciate.
7. If you prefer a ready-to-occupy Flat, locate it off the main road on a wide street with adequate water supply away from cinema hall, marriage hall, open drain, factories and place of worship but not very far from school, college, commercial complex, temple and hospital.
8. If you buy the Flat/Building under construction, visit the work site regularly and see the work progress.
9. You may not be a Vaastu believer, but purchase House or Flat or land that is Vaastu-friendly from resale point of view.
10. If any one offers flats/sites for a cheaper rate than the prevailing market rate, there may be certain hidden problems. So you should be extra careful on finalisation of such a property.
11. Ensure that the developer has Clearance Certificates from government departments, viz., Electricity Board, Water and Sewage Board, etc..
12. Commencement Certificate and Occupancy Certificate are other important documents that are necessary while buying the flats.
13. Check up the genuineness of the documents with the concerned authorities in person.
14. Ensure Agreement for Sale and Sale Deed, duly stamped, executed and registered are in your possession. Both should contain fair clauses for both the parties.
15. In case of flat purchase, specification of the building, including material used, difference between the carpet area and the super built-up area are the important factors to decide the rate. Other facilities like Club House, Swimming Pool etc., also will have to be considered.
16. Check whether there is adequate water supply and sanitary line facility.
17. In case of GPA transaction ensure the validity of GPA.
The Documents required for scrutiny of the title will vary in each case. In general the following documents are required to verify the title deeds of the property. However, based on these documents, further documents will also be required to come to a conclusion.
Documents required for purchase of BDA property (formerly CITB)
1. Allotment Letter.
2. Receipts for payment of site value.
3. Lease-cum-Sale Agreement.
4. Possession Certificate.
5. Absolute Sale Deed
6. Khatha certificate from the BDA
7. Tax paid receipts from the Bangalore Development Authority.
8. Khatha Certificate from the Bangalore Mahanagara Palike (if it comes under Corporation Revenue Jurisdiction).
9. Tax paid receipts from the Bangalore Mahanagara Palike.
10. Encumbrance Certificate from the date of allotment to the date of possession.
11. Re-allotment Letter / Re-conveyance Deed if property re-conveyed by the BDA.
12. Documents to prove why BDA re-conveyed the property.
Documents required for purchase of Converted Revenue Lands
1. Conversion Order issued by the Deputy Commissioner.
2. Conversion amount paid Receipt.
3. RTCs for 30 years issued by the Village Accountant
4. Tax Paid Receipts issued by the Village Accountant
5. Documents of ownership
6. Mutation Register Extracts
7. Akarband/Tippani/Podi Extracts
8. Surveys/Boundary Map
9. Village Map
10. Nil Tenancy Certificate
11. Confirmation from the competent authority that there are no acquisition proceedings.
12. Lay-out Plan Approval by the competent authority.
13. Khatha Certificate issued by the Revenue authority.
14. Latest Tax Paid Receipts
15. Encumbrances for the last 30 years
16. Validity of the Power of Attorney
17. Zonal Regulation Map.
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