The property legal title Search must happen at the time when a person plans to purchase a property or take a home loan or when a person is taking a property on a long-term lease for commercial use.
Nowadays, the cost of properties ranges from lakhs to crores. Hence, it is wise enough to get the property documents verified before you invest. This process lets you enjoy a smooth transition.
Documents that need to be verified before buying a property are - an occupancy certificate, building plan, encumbrance certificate, no objection certificate, sale deed, will, conveyance deed, agreement to sell, power of attorney, and mutation details.
This procedure is conducted by expert property lawyers who examine the property papers diligently and make sure that you are investing in the right property.
As a layman, one can verify the basic details whereas a legal expert will oversee the in-depth details, conducts research, and provide accurate information. Hence, hiring a legal expert is necessary for the title search.
The legal opinion is meant to favor the buyer's interest. These legal opinions can tell the buyer if the property is a worthy one or not. A good lawyer can provide the buyer with the best details of the paperwork. A competent lawyer also saves the buyer from future tangles that come with the property investment.
If you are purchasing a home or any other property, then it is important to get the documents verified. When you verify the documents, you can make sure your investment is safe and you're not getting into any scam or property fraud.
They are highly experienced Lawyers with hands-on knowledge and expertise on all the key fields of Law in India. No You cannot choose them because they are chosen by Technology Algorithm based on their practice Area and experience; NoBroker ensures you to connect with the best available expert.
A legal expert conducts in-depth research about the property and gathers all the information. They are responsible for searching & verifying titles, examining property records and compiling a list of mortgages, contracts and more. Hence, they ensure that the property in question is free from any kind of legal obligations.
There are various documents that these experts verify during the verification process. Some of the most common documents include:
• Agreement to Sell.
• Conveyance Deed.
• Power of Attorney.
• Will .
• Relinquishment Deed.
• Partition Deed.
• Mutation Details. Technical documents like Approved Building Plan / Building plan sanctioned by the Statutory Authority, Approved plan of construction / extension & license for construction, Detailed cost estimate/valuation report from Chartered Engineer/Architect, Sanctioned Layout Approval plan Khata Certificate(For bangalore), Extracts, Commencement & Occupancy Certificates. Tax Paid Receipts, NOC from Society/Association, No-due certificate from the building association Government approvals like RTC Extracts, Mutations, Joint Development Agreements, Approvals from Electricity, Pollution Control Board, Water Works & Airport Authority, Agreements between Builder & 1st Owner
It usually takes around 6 to 7 working days to verify all the documents and prepare a final report. Once the final report is ready, you will get a call from the lawyer where he/she will walk you through all the findings and answer your doubts (if any).
The stamp duty is the fee charged by the state governments to validate your property registration. This duty is calculated as a percentage of the property's value. In India, the stamp duty charged is generally in the range of 5%-7% of property's value. Also, in some states, women property owners get concessions on stamp duty. For example: In Delhi, if the owner is a woman, the stamp duty is just 4%, as compared to 6% if the owner is a man.
The cost of property registration includes stamp duty and the registration fee. Both the charges are calculated based on the value of your property. Also, the charges may vary from state to state.
No sir, it is not possible to register the property within 2 days because until you pay the stamp duty charges, once you get the E challan at SRO, you will not get a slot to register the property.
Generally before 2 to 3 days of your property registration you have to pay these stamp duty charges, Yes our legal advocate will help you to to pay the stamp duty charges.
