PPT on Buying Property in India

1
BUYING PROPERTY IN INDIA

• FACTORS TO PAY ATTENTION TO

2
A HOME

• FOR THE HOUSE TO BECOME THE HOME, MAKE THE RIGHT
  DECISION

3
THE LEGAL CHECKLIST

• ENSURE THAT THE DOCUMENTATION OF THE PROPERTY IS
  COMPLIED WITH.
• REGULATORY COMPLIANCES ARE MET ALL MANDATORY
  SANCTIONS OBTAINED.

• PAY DUE ATTENTION TO A FEW POINTS OF LAW TO
  ENSURE UNDISTURBED ENJOYMENT

4
SOME DOCUMENTS TO LOOK AT

• Sale Deed
• Mother Deed
• Building Approval Plan
• Commencement Certificate (Flats/Villas, etc.)
• Khata Certificate
• Tax Paid Receipts
• Completion Certificate (Flats/Villas, etc.)
• Occupancy Certificate (Flats/Villas, etc.)

• MAKE SURE YOU GO THROUGH THESE FOR SURE

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POINTS TO NOTE

• TAKE EVERYTHING DOWN IN WRITING, ASK THE AGENT
  AND BUILDER TO GIVE ALL THE PROMISES AND CLAUSES
  IN A WRITTEN DOCUMENT
• GET THE DOCUMENT SIGNED BY THE AGENT AND THE
  BUILDER TO ASSURE THAT THE PRISE BECOMES BINDING
  ON THEM

• DURING THE NEGOTIATION, NOTE THESE

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KNOW THE RERA

• REAL ESTATE (REGULATION AND DEVELOPMENT ACT)

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RERA

• AGENTS AND BROKERS, EARLIER NOT UNDER THE
  REGULATORY SCRUTINY, NOW BROUGHT UNDER THE ACT
• TO PROTECT UNWITTING HOMEBUYERS FROM EXPLOITATIVE
  PRACTICES OF AGENTS
• QUICK LEGAL REDRESSAL IN CASE OF FAULTY LEGAL
  PRACTICES

• MAJOR BENEFITS

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THE LIABILITY

• PROHIBITS BUILDER AND AGENT FROM ADVERTISING OR
  MAKING MISLEADING CLAIMS IN WRITING
• UNORGANIZED BROKERS AND CHANNEL PARTNERS NOW
  UNDER THE RADAR

• OF AGENTS AND BUILDERS

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WHAT YOU NEED TO DO

• STAY AWARE OF THE GOVERNING LAWS, REGULATIONS AND
  RULES
• EXAMINE ALL DOCUMENTS CAREFULLY RELATED TO THE
  PROPERTY.
• READ THE TERMS AND CLAUSES OF THE SALE AGREEMENT
  IN DETAIL BEFORE SIGNING.
• IN CASE ANY DISCEPANCY COMES TO NOTICE, SEEK
  CLARIFICATION FROM THE AGENT/BUILDER, AND APPROCH
  THE AUTHORITIES IF NECESSARY

• A FEW POINTS FOR BUYERS

10
CONSULT A LAWYER

• FOR SECURE TRANSACTIONS

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