Property buy in joka
3 months ago
Lots of residential plots are being sold near joka metro at affordable price and emi options. Are those legal and good investment or just a scam ? They are also claiming to give the documents to us for do all the verification including searching for 30 years by our own lawyer And they are telling us that we can buy property in installments and they are going to provide an agreement with court copy.. please help me what all the more things needed to verify whether this is a scam or not
A.Dear Client,
Purchasing a residential plot involves substantial financial commitments, so it's crucial to exercise due diligence to ensure a legitimate and secure investment. When considering such offers, several key aspects should be thoroughly verified:
1.Legal Documentation:Request and thoroughly review all legal documents related to the property. This includes the title deed, sale deed, and any other relevant documents. Be cautious if the seller is hesitant to provide these documents.
2.Land Title Search: Engage a legal professional to conduct a comprehensive title search spanning at least 30 years. This helps confirm the property's ownership history and ensures there are no legal encumbrances.
3.Agreement Terms:Carefully review the terms of the agreement, especially those related to installment payments. Ensure that all agreed-upon conditions, including the mode of payment, are clearly mentioned in the agreement.
4.Verification by Your Lawyer: While the seller may suggest using your lawyer for verification, it's advisable to choose an independent lawyer to avoid any conflict of interest. Your lawyer should scrutinize all documents and provide you with a detailed report.
5.Site Visit: Physically visit the property to assess its location, surroundings, and accessibility. Verify whether the details provided by the seller match the on-site reality.
6.Approval from Local Authorities:Confirm that the property has received necessary approvals from local development authorities. Unauthorized or illegal plots may lead to future complications.
7.Past Buyer Experiences:Seek feedback from other buyers who have invested in the same or nearby projects. Their experiences can provide valuable insights into the credibility of the developer and the legitimacy of the investment.
By thoroughly examining these aspects and seeking professional legal advice, you can minimize the risk of falling victim to scams and make an informed decision regarding the purchase of a residential plot.
Thankyou
Purchasing a residential plot involves substantial financial commitments, so it's crucial to exercise due diligence to ensure a legitimate and secure investment. When considering such offers, several key aspects should be thoroughly verified:
1.Legal Documentation:Request and thoroughly review all legal documents related to the property. This includes the title deed, sale deed, and any other relevant documents. Be cautious if the seller is hesitant to provide these documents.
2.Land Title Search: Engage a legal professional to conduct a comprehensive title search spanning at least 30 years. This helps confirm the property's ownership history and ensures there are no legal encumbrances.
3.Agreement Terms:Carefully review the terms of the agreement, especially those related to installment payments. Ensure that all agreed-upon conditions, including the mode of payment, are clearly mentioned in the agreement.
4.Verification by Your Lawyer: While the seller may suggest using your lawyer for verification, it's advisable to choose an independent lawyer to avoid any conflict of interest. Your lawyer should scrutinize all documents and provide you with a detailed report.
5.Site Visit: Physically visit the property to assess its location, surroundings, and accessibility. Verify whether the details provided by the seller match the on-site reality.
6.Approval from Local Authorities:Confirm that the property has received necessary approvals from local development authorities. Unauthorized or illegal plots may lead to future complications.
7.Past Buyer Experiences:Seek feedback from other buyers who have invested in the same or nearby projects. Their experiences can provide valuable insights into the credibility of the developer and the legitimacy of the investment.
By thoroughly examining these aspects and seeking professional legal advice, you can minimize the risk of falling victim to scams and make an informed decision regarding the purchase of a residential plot.
Thankyou
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A.Dear Client,
Owing to considerable development in communication and other related civic facilities around the Joka Metro Station area, this area has now become a center of real estate business that includes some touts who are engaged in unfair trade practices to allure the interested buyers of the property with ulterior motives to transfer the property having a defective title and encumbrance by adopting unfair means. So, if you are considering buying a property around Joka, get yourself satisfied with the property papers after conducting a random search from authentic sources. Purchasing a property/land requires utmost care. One has to examine and find out the title of the seller or the nature of his right. A seller can sell only what he possesses. Therefore if a seller has a proper and valid title, on purchase you will get a valid title. Here are some of the precautions you can take before finalizing a property deal. 1. Check the antecedents of the vendor(s), 2. Check the title of the property, 3. Verify the title of the seller, 4. Personal inspection of property under sale (site/building/flat/agricultural land), 5. Sale by the holder of a power of attorney, 6. Check the original documents, 7. Colour Photostat copies frauds - Today, the technology used in colour Photostat machines is very advanced one, and copies generated using these machines are of high quality. Innocent purchasers can be duped by clever vendors by delivering colour Photostat copies instead of original, 8. Verify photographs and thumb impressions of the vendor, 9. Tax receipts and bills, 10. Check Encumbrance Certificate, 11. Check whether Pledged or mortgaged land, 12. Place a public notice, A public notice may be placed in newspapers calling for claims in respect of the property to be purchased. 13. Inspect the plans, 14. Payments of stamp duty, 15. If the property belongs to a minor, 16. Check the minimum tenure of land if taken on lease, Reach out to an experienced and reliable property Lawyer to get yourself satisfied with the status of the property before entering a deal with a real estate trader/agent.
Owing to considerable development in communication and other related civic facilities around the Joka Metro Station area, this area has now become a center of real estate business that includes some touts who are engaged in unfair trade practices to allure the interested buyers of the property with ulterior motives to transfer the property having a defective title and encumbrance by adopting unfair means. So, if you are considering buying a property around Joka, get yourself satisfied with the property papers after conducting a random search from authentic sources. Purchasing a property/land requires utmost care. One has to examine and find out the title of the seller or the nature of his right. A seller can sell only what he possesses. Therefore if a seller has a proper and valid title, on purchase you will get a valid title. Here are some of the precautions you can take before finalizing a property deal. 1. Check the antecedents of the vendor(s), 2. Check the title of the property, 3. Verify the title of the seller, 4. Personal inspection of property under sale (site/building/flat/agricultural land), 5. Sale by the holder of a power of attorney, 6. Check the original documents, 7. Colour Photostat copies frauds - Today, the technology used in colour Photostat machines is very advanced one, and copies generated using these machines are of high quality. Innocent purchasers can be duped by clever vendors by delivering colour Photostat copies instead of original, 8. Verify photographs and thumb impressions of the vendor, 9. Tax receipts and bills, 10. Check Encumbrance Certificate, 11. Check whether Pledged or mortgaged land, 12. Place a public notice, A public notice may be placed in newspapers calling for claims in respect of the property to be purchased. 13. Inspect the plans, 14. Payments of stamp duty, 15. If the property belongs to a minor, 16. Check the minimum tenure of land if taken on lease, Reach out to an experienced and reliable property Lawyer to get yourself satisfied with the status of the property before entering a deal with a real estate trader/agent.
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