Buying a property is amongst the most substantial financial choices that you will ever face. Whether it is your long-awaited home or a thinking-about-it investment property, ensuring a legally auspicious purchase is imperative for long-term peace of mind.That is why following a property legal checklist is the most intelligent way of protecting both your property and your future.
1.Verify Property Ownership
Begin by verifying that the seller holds a good and transferable title. Request for ownership certificates, sale deeds, and mutation records. Engaging a skilled legal expert for a property verification is intended to confirm that there are no disputes, claims, or mortgages that pertain to the property.
2.Check for Encumbrances
An encumbrance certificate issued by the Sub-Registrar’s Office reveals if the property is free of legal dues, loans, or litigation. This is a very important step that ensures that your investment remains debt-free and risk-free.
3.Check Land Use and Zoning Approvals
Just before sealing the deal, ensure that the land is approved for commercial or residential activity by GHMC or HMDA. Illegal activity on land can lead to costly demolitions or setbacks in the future.
4.Review Plan for Building and Occupancy Certificate
For flats or gated communities, cross-check the approvals for the builder’s construction plan and Occupancy Certificate (OC) received upon completion. These ensure that the construction complies with all municipal norms and safety.
5.Check Tax Receipts and Approval of Utilities
Ensure that property tax, water bills, and electricity bills are paid. Also, ensure utilities are registered under the seller’s name to avoid any future conflicts.
By following a detailed property legal checklist, you safeguard your hard-earned money and ensure a safe investment and secure future in Hyderabad’s booming real estate market.
