Pune is one of the best places to live in. It enjoys an equal status of a metro, a retired person paradise, IT and Ecommerce hub, Educational hub etc. it’s a dream to own a house here. The city of Pune has a lot of residential plots around it.
But buying a property is not an easy task. It involves a lot of paperwork. Eventually, at the end the pains and the stress are all worth it. Buying a plot and buying an apartment are altogether a different ball game. The documents required for buying a plot are different than that of buying an apartment. Every state follows a different process. Here is a checklist of the important documents that you should check before buying a new property: If you have purchased a property which is under construction, following are the documents that you need to check: 1. Land records A check should be done from your side to see that the builder who is selling you the land owns it. The land records will give us the details of all the aspects of the property. 2. Sales Deed This is document which holds the proof of the property transfer from the buyer to the seller. The registration of this document is mandatory. 3. Building approval plan This document is given by the government body. The owner of the building has to get it approved from the jurisdictional commissioner. 4. Commencement Certificate This document holds a lot of importance when you want to build a property on the land. Failing to provide this document you may have to pay penalties as the property will be treated as illegal. 5. Conversion certificate This document is a proof that the status of the land is converted from an agricultural to a non-agricultural property. 6. Khata Certificate This certificate shows account of the person owning the property and is mandate for the registration of the property. 7. Power of Attorney This document gives a person authority on behalf of the owner if he is not present physically to carry out the legal transactions. 8. Completion certificate This document proves that if any property is built on the land they have met the standards in terms of all the dimensions specified by the government. 9. Betterment Charges Receipt It is a development charge which is paid to the local government body. 10. Encumbrance Certificate It is a certificate which shows the transactions that are registered related to the property mentioned in chronological order. 11. Compounding Fee Receipt This document provides us with the information regarding the deviations in the plan that were carried out while building a property on the plot. 12. PTCL Endorsement It is known as Prevention of Transfer of Certain Lands Act (PTCL) and it is issued by the Tahsildar. It is a compulsion to hold all the above documents. There are even more such documents that are required. It is always suggested to take the help of the real estate agent as they can take care of all the documentation. Consider Sairung Developers as your partner in helping you out with these tedious tasks of purchasing a plot.
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We all want to live in a place that we like to call our own. But to build that dream home we need a land to build it. It may happen that we do not have finance to buy that land. You don’t need to worry on that we can always take a loan for it. Most of the banks do offer loans on plots. It can be an easy buy regardless of the terms and conditions which needs to be done before proceeding with it.
The first thing that you need to remember is never to buy an agricultural land. The land that you plan to purchase should only be used for residential purpose. Banks do not provide loan for purchasing agricultural land. Some banks even check if the land is in the municipal limits. There can be some clauses also that need to be followed. There can a lot of restrictive clauses too; so be careful to read all the documents. Let us check the difference between a home loan and a land loan. A land loan is completely different from a home loan. There are a lot of factors that we need to take a note of like tax deductions. As we have in home loans, the tax on interest is paid on land loan is not deductible, which means there is more burden on the land purchaser. The high interest rates than home loans are also an added burden. So, taking a loan for purchasing a land can be a huge hole in your pocket. If you take a loan for the construction on the site, you are eligible for tax break. Tax benefits can be claimed on both the house for construction and land loan. The tax can be deducted only in the year when the construction is completed and after the submission of the completion certification from the concerned authorities. Down payment can be an issue for the people who have taken a loan on land. Only 20% of the value needs to be arranged by the people who take home loan but, in case of land loans it may go upto 70%. For documentation and other legal verifications it is advisable to hire a lawyer who will help you to complete all the legal formalities so that you submit correct documents. If your documents are inappropriate it may lead to rejections and doing all the formalities all over again can be a tedious task. Here are some documents that you may require for getting a loan are original site ownership documents, tax receipts for taxes paid by the owner, layout drawings, receipts of the revenue, no objection certificates from the society for sale and transfer of land and a no encumbrance certificate for the land. Financing a piece of land in India is not a big issue, but the problem can be of the high interest rates. If you have the capacity and the capability of paying that you can do that too. Getting a home loan is much easier than getting a loan for the land. For a land loan you need a lot of paper work and a lot of patience. You should all meet the terms and conditions laid down by the bank. Come and meet Sairung Developers for some exclusive plots in and around Pune. We will help you with all the formalities required for a loan on the plots. Real estate has been emerged as a never ending and profitable business in the recent years. Many problems of the general public have been sorted out like finding a home in the desired place they want to live. But before you go on to finalizing, you need to conduct a thorough research for it. It should all be done in advance.
It so happens that people do not have time to conduct the proper researches and they end up buying the wrong homes for themselves. All this will help in saving your energy and time of searching a place that you desire to live. Here are some benefits of hiring a real estate agent for buying or selling your home:
Its high time that you should be knowing about the pros of a real estate agent. We, Sairung developers are not real estate agents but yes we help you in buying the best lands in and around Pune at reasonable and affordable prices. Hope to see you soon. Buying a real estate is one of the most tedious tasks that one can be going through. A lot of thought process and research goes around as a lifetime saving goes into buying it. A whole lot of time and money goes into investing in real estate.
The owner/ builder/agent from whom you are purchasing your property you should be aware of him regarding all his details. Thanks to the advancement of technology that we can find all the details with just a click of the button. You can find various tips on different portals which will help you in guiding for buying the right plot. Here are a few tips that will be useful for you to select the right spot:
These are a few tips that will help you buying a property for you. Always do your own research it will help you. Do not believe the hype in the market or the advertisements about the builder talk to a lot of builders will help you. All your ground work should be done for understanding proper prices of the properties for desired locations. You should also be analyzing if this is the right time for you to buy the property. Various factors should be considered before you arrive at a decision. For any more tips visit Sairung Developers. The new trend is that to build your home of dreams you need a plot. The demand for plots for different purposes has started increasing. Post marriage the young couples decide on investing in plots for their retirement.
Pune has a lot of options for land in and around it. It is like the best place to live after your retirement or for building your dream home. But it’s not an easy task to buy a plot. There is a lot of paperwork involved. One should have a proper and thorough knowledge of all the papers that would be required for applying a loan. Many a times while purchasing a plot there is a down payment made and then a loan is taken for the same. There are various banks and financial institutions who provide financial assistance. But before taking a loan one should be aware of the process that is to be done. Here are some things that one should be keeping in mind before applying for a loan:
Living in a city which is really fast and is also known as a metro city we ought to find some open space at scenic locations for building a holiday home or just for investment purposes. If you need to build a home of your dreams you we are here with a few tips that will help you.
1. The location of your plot The time you have made up your mind on purchasing a plot make sure that you have done your research regarding the location. You should check the neighborhood if they have good connect with Hospitals, schools, market, bus stops, etc. You can buy plots around Pune where you are well connected with roads. 2. Conduct a thorough research to find the actual value of the plot It may happen that the broker/seller is selling you the plot for more than what it deserves. You need to compare a lot of things like the rates, quality, locality, neighborhood services and a lot many factors which will make your living feasible over there. Search the most named, reliable and a knowledgeable person in land/plot dealings. 3. The covered area of your plot When you are investing in plots don’t do any of it blindly. The real estate is such a world where people are ready to make money out of it by hook or by crook. Make sure that you have analyzed all the aspects very thoroughly like the price of your land, future value, return value in case you want to sell of your land. 4. Proper verification and documentation Before paying off for your land make sure that all the documents are being properly verified by you. Verifying everything will keep you far from the problems that you would tend to face in the future. Check if the land is not facing any legal issues. 5. Checking the approvals of the land The land that you are planning to buy should be approved by the certifying agency. It should accurately be approved by the local body also. If you are buying any plots in and around Pune make sure all the approvals are done. Ask the lawyer regarding your doubts. 6. Collecting the property tax receipts from the seller Being abided by the tax rules in India we need to have all the tax receipts and even the proofs of the bill. These bills and tax receipts ensure that you are free from all the tax-related issues. The above tips are the ones that you should be considering before you are planning to buy any plot. Be careful while selecting the place where you want to build the home of your dreams. Seek help of Sairung Developers when and wherever you require as we all cannot be the expert in this field. |
AuthorSairung Developers, backed firmly by a sound financial base and trust, started its activities in 1979. Since its inception, the Sairung Group has spearheaded revolution in many areas like construction, development of gated communities and assured deliveries of developed farm and bungalow plots, NA plots, ensuring high returns year after year. Archives
December 2016
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