Checklist To Avoid Pitfalls

Checklist To Avoid Pitfalls

While investing in real estate in India can be a smart move there are several pitfalls which one needs watching out for in order to secure the investments.

  • Property Title

    The seller must have clear title of the property and the required authority to sell it especially in case of inherited house or a joint property.

  • NDC

    There should be no outstanding civic authority dues or electricity/ water bills pending at the time of sale. A No Due Certificate to this effect must be produced by the seller.

  • Bank Release Letter

    In case the property had been mortgaged for a loan or provided as a direct/indirect collateral security for any loan, then the seller must be able to provide a release letter from the concerned bank stating that all outstanding loans have been settled and the documents have been releases.

  • Permits

    The stated house must have all the required approvals and permits from concerned civic authorities with regard to construction and layout.

  • Litigation

    The house under consideration must be verified for any kind of pending litigation.