The Below Points remember when you looking for apartments for sale in porur or property in chennai.
1. Loan-ability :
Ask this question: Will the land qualify for a bank loan? Even if you DON'T need the money to buy the land, asking this question to the seller will come up with all kinds of truths. If the land does not qualify for a bank loan , the papers are probably dodgy. But for the purpose of this discussion, we are using bank loan-ability as a check to see if the land titles are good.
2. Land Title :
The land developer or the seller should posses a clear title of the land he is selling. Believe me , YOU are not qualified to check it ! Nor your friend who has just introduced you to the seller ! You need a professional lawyer who specializes in scrutinizing Land Titles. Don't expect a court going criminal lawyer to check the papers. It would be like going to a Dentist when you have stomach pain.
3. Approval to build :
CMDA Approval. If the development is within the city limits , it will have a CMDA ( Chennai Metro Development Authority) approval. If the township has been planned and promoted by the developer he will have a CMDA approval number on his layout drawing. Ask for a copy. If the land is being re-sold and if it is in a crowded old locality in the city like T. Nagar or Anna Nagar, please take the document to your lawyer and ask if the plot qualifies for construction. Do NOT assume just because there is an old house on the plot, automatically you will be allowed to demolish and build anew.
4. No Encumbrance Certificate :
The Sub-Registrar office under whose jurisdiction the proposed land comes, will issue an E.C (Encumbrance Certificate) of the land. It will show previous transactions, buyers and seller names of yester years, whether the land has any lien or loan on it etc. Your lawyer should check the extent of the land to see if it matches the sale deed and the patta. The EC is not a bullet proof document , due to clerical error some entries may be missing or not clear. So it is important to study the same with other parent documents.
5. Possession certificate :
This is a little known but crucial document which even your lawyer may overlook. In fact if you press him for it, he may murmur that you are paranoid. Remember it is YOUR money and you have to be paranoid when it comes to land dealings. This certificate is issued by the VAO or VO ( Village Administrative Officer). The VO is appointed by the Tahsildhar who in turn reports to the District Collector. The VO is supposed to be intimately aware of the goings on in every village - but in reality he won't , but in turn will depend on the village "Thalayari" a local govt appointee. All these chaps used to be part of the British administrative system of revenue collection and spying.
6. Legal Heirship:
Any person who has purchased a land with his OWN funds is at liberty to sell if she/he is in sound mind. However if the property is ancestral or has been devolved through "settlement" between family members or through a divorce settlement your lawyer should demand legal heirship certificate to verify number of claimants and scrutinize court orders on confirmation of WILL etc.
7. Measure the Land:
If you are too lazy now to physically verify the land, believe me you will be very busy with this subject few years from now. So please visit the site and get it measured by the local village surveyor. make sure the extent is as per document and ask the surveyor to make a drawing over the existing FMB (Field Map Book) drawing published by the government and ask him to sign with his official seal. Do not use a private surveyor. His word means nothing in the court. Getting the government surveyor may involve a bit of running around as these chaps are elusive figures.
More later. But for now , start worrying but keep buying. Remember when buying land you can never be too paranoid.
JKB Housing Builder in Porur :
1. Residential flats in chennai
2. Budget flats near porur
3. 2BHK flats in porur
1. Loan-ability :
Ask this question: Will the land qualify for a bank loan? Even if you DON'T need the money to buy the land, asking this question to the seller will come up with all kinds of truths. If the land does not qualify for a bank loan , the papers are probably dodgy. But for the purpose of this discussion, we are using bank loan-ability as a check to see if the land titles are good.
2. Land Title :
The land developer or the seller should posses a clear title of the land he is selling. Believe me , YOU are not qualified to check it ! Nor your friend who has just introduced you to the seller ! You need a professional lawyer who specializes in scrutinizing Land Titles. Don't expect a court going criminal lawyer to check the papers. It would be like going to a Dentist when you have stomach pain.
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| Top builders in chennai |
CMDA Approval. If the development is within the city limits , it will have a CMDA ( Chennai Metro Development Authority) approval. If the township has been planned and promoted by the developer he will have a CMDA approval number on his layout drawing. Ask for a copy. If the land is being re-sold and if it is in a crowded old locality in the city like T. Nagar or Anna Nagar, please take the document to your lawyer and ask if the plot qualifies for construction. Do NOT assume just because there is an old house on the plot, automatically you will be allowed to demolish and build anew.
4. No Encumbrance Certificate :
The Sub-Registrar office under whose jurisdiction the proposed land comes, will issue an E.C (Encumbrance Certificate) of the land. It will show previous transactions, buyers and seller names of yester years, whether the land has any lien or loan on it etc. Your lawyer should check the extent of the land to see if it matches the sale deed and the patta. The EC is not a bullet proof document , due to clerical error some entries may be missing or not clear. So it is important to study the same with other parent documents.
5. Possession certificate :
This is a little known but crucial document which even your lawyer may overlook. In fact if you press him for it, he may murmur that you are paranoid. Remember it is YOUR money and you have to be paranoid when it comes to land dealings. This certificate is issued by the VAO or VO ( Village Administrative Officer). The VO is appointed by the Tahsildhar who in turn reports to the District Collector. The VO is supposed to be intimately aware of the goings on in every village - but in reality he won't , but in turn will depend on the village "Thalayari" a local govt appointee. All these chaps used to be part of the British administrative system of revenue collection and spying.
 |
| Flats for rent in Madhananthapuram |
Any person who has purchased a land with his OWN funds is at liberty to sell if she/he is in sound mind. However if the property is ancestral or has been devolved through "settlement" between family members or through a divorce settlement your lawyer should demand legal heirship certificate to verify number of claimants and scrutinize court orders on confirmation of WILL etc.
7. Measure the Land:
If you are too lazy now to physically verify the land, believe me you will be very busy with this subject few years from now. So please visit the site and get it measured by the local village surveyor. make sure the extent is as per document and ask the surveyor to make a drawing over the existing FMB (Field Map Book) drawing published by the government and ask him to sign with his official seal. Do not use a private surveyor. His word means nothing in the court. Getting the government surveyor may involve a bit of running around as these chaps are elusive figures.
More later. But for now , start worrying but keep buying. Remember when buying land you can never be too paranoid.
JKB Housing Builder in Porur :
1. Residential flats in chennai
2. Budget flats near porur
3. 2BHK flats in porur
