The real estate in Delhi is booming and investment opportunities are rising rapidly. The property demands are rising rapidly which leads to higher demands for property for sale in Delhi. If you are looking for the best investment options then this is the best time to buy property in Delhi NCR. People these days are searching for apartments and flats. But, you have to know all the rules and regulations before buying a house. Not knowing all the legalities involved and rules and regulations can put you under legal tussles or further problems.
This issue of not knowing the rules and regulations will further create land issues and people not knowing the exact property rates and what to pay in those areas.
People have no clue what documents to submit before they can do any financial transaction or after a financial transaction and possession of that property. Therefore, we will solve every query possible in this blog. Let’s start. Firstly we will show you a proper table and then we will discuss every point and rule in detail.
| Legal Prospects | Summary |
|---|---|
| Title verification | A proper search structure to find the history of the property ownership. This checks the clearance from previous owners. |
| Seller Verification | Done to check the identity of the seller through ID cards etc. |
| Land Use Documents | An important step for identifying types of properties. |
| Construction Approvals | Checking all the planning and construction approvals from RERA, municipal authorities etc. |
| Occupancy Certificate | Needed before property transfer |
| Payment of Taxes | All the taxes cleared by the seller |
| Mortgages Plus other claims | If the main land is under dispute |
| Physical Survey | Physical examination of the property and vicinity. |
| NOC | No Objection Certificates from Municipal, Environmental etc boards |
| RERA compliance | If the property is complaint under RERA |
Let’s discuss all the legalities in detail, so you can fully understand if the Property for sale in Delhi falls under all the above legalities and you can go ahead and buy that property.
The Process of land acquisition is a very tough and tedious process that involves all the above legal issues. If one is not solved, it can further put you in future problems and legal issues. Let’s discuss every rule in detail:
Title verification
This is the first step for legal situations where the buyer has to confirm the validity and existence of a particular property under land for sale in Delhi. Also, it needs to be clear of any unpaid dues or mortgages, etc. The documents should be from 12 years of existence and should show up to 30 years of legal clearances and discrepancies.
Seller Verification
This is done to identify all the details of the seller. The verification documents that the seller needs to give are the title documents of the property plus the Aadhar card, Pan card, etc of the seller of the property.
If the identity is not a person but the property is under an organization, check for important legal documents about the company registration and TAN number and other documents.
Land Use Documents
These documents are required for identifying the type of property or Land and what it will be used for – non-agricultural land, commercial land, residential land, industrial, mixed-use, or any other type of land.
Check in these documents, if the land is converted to another form for use legally. You can verify the land conversion documents for this.
Also, it’s highly necessary to check the master plan of the area or property and what is the zoning plan for that – are there any semi/public spaces, parks or residential spaces, and other open spaces, residential, commercial, etc. when you are doing property investment in Delhi.
Construction Approvals
Whether you are investing in Commercial or residential property in Delhi if the property has all the flats and buildings constructed, then you have to check all the construction approvals. You have to check all the required layout plans, that’s highly necessary. All these plans should be appropriately sanctioned by appropriate bodies like government bodies, municipal bodies, regulatory and statutory bodies, etc. for providing all the basic amenities like water, electricity, environmental clearances, and many more.
Occupancy certificate
This certificate needs to be obtained by the seller for Real estate in Delhi. The Occupancy certificate or OC needs to be obtained to transfer the property to the seller. This is a highly important certificate. If not obtained or missing OC, it can lead to high penalties and also property demolition.
Taxes
This comes under the seller. If the seller has not cleared all the property taxes, it can obtain penalties that can be in hefty amounts. You have to check that when you are doing property investment in Delhi. To identify all the tax clearance, you can check the municipal authorities for these details.
Also Read: GST: A needful reform for the Real Estate Sector
Mortgages plus other claims
Whether you are looking for Affordable housing in Delhi or Luxury properties in Delhi, if the land is legal or any other disputes, then you cannot attain that property. For that clearance, you have to check the Government websites for any legal disputes.
You have to check the newspapers for any kind of public notices when you are in the process of the final transaction of the property. You also have to check any third-party claims and must be aware of them.
Physical Survey
When you are doing any Property investment in Delhi or the NCR region, you have to do a proper physical survey of the site and do all the required measurements to get the proper measurements that are depicted on paper.
NOC
NOC or No Objection certificates are clearances from different bodies like Environmental authorities, Pollution Board, Traffic coordination, Sewage Board, etc for any residential or Commercial property in Delhi.
RERA compliance
This is the most important. Whether you are investing in Luxury properties in Delhi or simply affordable housing in NCR region, you have to check if proper registration is done under RERA.
It’s highly advisable to take any legal help or help from top Real estate developers in Delhi to figure out the proper clearances and disputes, so you have no future issues with the property.
Omaxe is one of the developers that have a clean track record of turning buyers’ dreams of buyers into reality by providing their dream properties on time. If you want to do Property investment in Delhi, then trust Omaxe for turning dreams into reality.
