Need of Legal Advice When Buying Property in India

Having a legal opinion at hand at the time of buying property always serves as a helpful tool in the due diligence exercise. Never believe any amateur when it is regarding your property investments. An expert will always provide you with the best knowledge on the tangles involved in property acquisitions which is no doubt the most critical procedure. There are several laws, rules, and regulations covering property investments in India. Approaching an advocate is the most credible route as he is a property matters specialist.

• You want to purchase an old property i.e. the property from an existing owner rather than a property developer.
• The property is held jointly, or the seller may not contain proper title or authority to sell the property.
• The property may have already been sold by the seller or it may be encumbered.

However, it seems a little difficult for any individual to check out all the areas at the same time. For that reason, it is always a better option to avail the services of an expert in the matter. Although, a purchaser can do an initial review of the documents, it is good to have the legal documents verified by the expert.

Scanning through property documents is no easy task. Land records are generally written in local language. The property buyer requires scouting through several legal documents to trace the ownership of the property. You may also ask your legal advisor to prepare a search report for yourself.

The search report marks out:
• History of the property
• Details of the original property owner
• How the property has been transferred over time before reaching the present seller?
• Any charges or encumbrances created on the property
• The present status of the property whether the payment has been made and the property released or are there any pending charges etc.

How to buy an apartment in India

Having a legal opinion at hand at the time of buying property always serves as a helpful tool in the due diligence exercise. Never believe any amateur when it is regarding your property investments. An expert will always provide you with the best knowledge on the tangles involved in property acquisitions which is no doubt the most critical procedure. There are several laws, rules, and regulations covering property investments in India. Approaching an advocate is the most credible route as he is a property matters specialist.

Here, I m talking about apartment or flat (as commonly refereed) buying tips as they have become a distinguished form of housing accommodation in virtually most major areas in India. Featuring technical and economic advantages, high rise flats have undoubtedly become more popular again.

Book the flat during the best time which is when a project is announced. Most booking are done on the basis of "first come first serve" basis. The first ones have the option to choose the floor, the size, the location, and the design. Also, the builder offers the most cost effective rates for initial bookings to beat their risks. Buying a flat in a building that is about to be completed also stands for a nice option. This curtails expenditure on both the rent and interest.

Check out all the documents beforehand. Before you buy a flat, you must carry out a title and document search with the assistance of an experienced lawyer. Moreover, make sure that there are no deviations from the approved layout plan and approved building plan. You must take a look at the ownership documents as well to avoid nasty surprises later.

What documents to ask for? In case, you are booking a flat in an under construction apartment, ask for a copy of the floor plan of the proposed building to determine the percentage of areas like staircases, passages, and lifts. The floor plan is also helpful to give you a view of the orientation of each room.

Check out the specifications. A copy of specifications for construction is a critical aspect to ensure that you are getting what has been promised is fulfilled by the builder. It will also help you to see that the array of proposed facilities is suiting to your lifestyle.

Now, with all the relevant information in your hand, you can easily compare different plans as offered by different builders to buy a flat in your preferred location.

References

http://www.helplinelaw.com/docs/main.php3?id=ILME1#pro

http://www.legal-definitions.com/real-estate-law/

http://www.legalwiz.com/products/leaseopt.shtml

Chennai

Chennai (formerly known as Madras) is the capital of the Indian state of Tamil Nadu. It has a population of about 7 million people (nearly 10% of state's total population). It was founded in 1661 by British East India Company.Popularly known as "Gateway to South India", it is well connected internationally and to other parts of India. The city is governed by the Corporation of Chennai consisting of a Mayor and councilors.

Chennai boasts of rich historical legacy which lends an inexplicable charm to the city. The Portuguese arrived here in the 16th century and were followed by the Dutch, and East India Company.

The Buildings Organisation of the Public Works Department is committed to Plan, Design and Construct buildings in the spirit of the fact that shelter is one of the three basic needs of the people. In this endeavor, the important factors such as environment, the purpose of occupation and the practicing habits of the occupants are considered for providing best suitable building space.

References

http://www.chennaicorporation.com/townplanning/index.htm

http://www.chennaicorporation.com/rules_procedure/Building-Permission.htm

http://www.chennaibest.com/cityresources/Real_Estate/interview02.asp

http://www.tn.gov.in/policynotes/pdf/pwd_buildings.pdf

Coimbatore

Coimbatore, popularly known as Manchester of South India, is situated in the western part of the state of Tamil Nadu. Covering an extent of 105.6 sq.km., Coimbatore City is the district head quarter. Coimbatore is well known for its textile industries and has excellent potential for industrial growth. Because of its proximity to the hills of the Western Ghats, Coimbatore enjoys an salubrious climate throughout the year.

References

http://www.coimbatore-corporation.com/

Bangalore

A fast growing metropolis, the garden city of Bangalore is the capital of the southern Indian state of Karnataka. Situated at about 1000 meters above sea level, it is known for its salubrious climate where temperatures remain moderate through out the year. The maximum temperature in July is around 320C and the minimum around 220C. It is connected by air, rail and road to all major cities of the country and has direct international connections to many cities worldwide.

The building use classification and definitions applicable for the purpose of building byelaws and land use classification shall be based on the provisions of Zoning Regulations approved under the Karnataka Town and Country Planning Act, 1961

References

http://www.bmponline.org

http://www.onlinebangalore.com/hous/nodal/bmrda.html

http://www.bmrda.kar.nic.in/

Hyderabad

Hyderabad, primarily known as the 'City of Pearls and Minars', is the fifth largest metropolis of India. Today, eyes of potential investors are set on Hyderabad which is staying in step with the overall property market trend existing in the country. Despite all odds, the city is improving in good deal of activities.

The Hyderabad Information Technology Engineering Consultancy City (HITEC City) is a major technology township built in Hyderabad, India

It is marketed and maintained by L and T Infocity Ltd., a joint venture of Indian engineering giant Larsen & Toubro Limited (which owns 89 percent of the venture) and the Andhra Pradesh Industrial Infrastructure Corporation (APIIC) Limited (which owns the remaining 11 percent). Constructed on 151 acres (61 hectares) of land and at a cost of about $375 million USD. HITEC City is a self-reliant business park designed to leverage Hyderabad's advantages IT training and very high quality manpower. The Andhra Pradesh government has designated 5,000 acres (20 km²) around Hitec City as "Cyberabad" in order to give a boost to the development of IT infrastructure.

The metropolitan area of Hyderabad was notified under the Andhra Pradesh Urban (Dev.) Act 1975 and termed as "Development Area". This consists of the MCH, 10 municipalities and a vast area under Gram Panchayats. In order to plan for this composite area, the Government of Andhra Pradesh constituted on 2nd October 1975, the Hyderabad Urban Development Authority".

References

http://www.ourmch.com/

http://www.ourmch.com/taxdues.asp

http://www.ourmch.com/townplanning.asp

http://www.ourmch.com/approvedplans/goms86.asp

http://www.hudahyd.org/inside/hudaprofile.asp

Kerala

Kerala is celebrating the Golden Jubilee of its first Government. In this regard, a simple but meaningful celebration is being organized to remind the new generation the achievements of the EMS Government that took over the administration on April 5, 1957. The base of the development of Kerala was the piece of legislation that ensured the ownership of agrarian land to the peasants.

Persons in service in the Town Planning Department as well as in the Kerala State Planning Service and the Department of Statistics and Economics who possess the necessary qualifications will be exempted from the upper age limit fixed for the post. But in no case, the maximum age limit shall exceed 50 (fifty) years.

References

http://www.kerala.gov.in/

http://www.kerala.gov.in/dept_townplan/townplan.htm

http://www.keralalawsect.org/law_reforms_report/page%20261-264.htm

Delhi

Delhi is a palimpsest, bearing the complexities, the contradictions, the beauty and the dynamism of a city where the past coexists with the present. many dynasties ruled from here and the city is rich in the architecture of its monuments. Diverse cultural elements absorbed into the daily life of the city have enriched its character. exploring the city can be a fascinating and rewarding experience.

India a land of snake charmers and magicians and the capital of this land of mysteries is Delhi. Delhi is just not a city but it is a book-- a book which narrates the history of India. The city was built and destroyed seven times and has been witness to the various events which has brought India through the history books. Seven times this city went through the pain of being built and rebuilt.

References

http://land.delhigovt.nic.in/

http://www.mcdonline.gov.in/

http://huda.nic.in/reg.htm

Kolkata

Kolkata is one of the largest cities in India covering an area of 187 square km and housing a population of more than 4.6 million. Kolkata Municipal Corporation (KMC) provides a range of services to the city including the supply of drinking water, sewerage and drainage, solid waste management, roads maintenance, street lighting and slum development works.

KMC has undertaken a comprehensive Kolkata Environmental Improvement Project (KEIP) to arrest the environmental degradation and improve the quality of life in the city. One of the components of the KEIP is a comprehensive Capacity Building Programme (CBP) which seeks to improve the governance practices and service delivery mechanism of KMC, especially to the poor. The CBP is supported by DFID.

References

http://www.kolkatamycity.com/building.asp

http://www.kolkatamycity.com/heritage_building.asp

Mumbai

Formerly known as Mumbai it is the commercial & financial capital city of India. This port city (India's largest and busiest) accounts for a major share of the government's revenue, and has one of the world's largest harbour. In a recent survey of cities compiled, Mumbai is the fifth most expensive city in the world. 40% of this island city consists of reclaimed land from the sea.

This mega cosmopolitan city is a city of contrasts. The deceptively calm sea, its beaches and fishing boats, give lie to a city, which is bursting at its seams with population, pollution and space.

The evolution of Town Planning Act in India started with the aim of improving the living conditions of the urban poor with the Improvement Trust set up in 1898, after the outbreak of the bubonic plague occurred in Mumbai. The main objective of the Act was to redevelop slum blighted areas, especially those, which were inhabited by economically weaker sections of the community.

References

http://www.mcgm.gov.in/forms/Rules.aspx?slmno=MTU%3d-SqScYnO8wOo%3d

http://www.mmrdamumbai.org/projects_mudp.htm

http://www.nmmconline.com/RTI/TownMain.php

Pune

Pune is a city located in the western Indian state of Maharashtra. It is Located in the Sahayadri Hills, near the west coast of India, Pune is a fascinating city with a healthy climate all year round. In the days gone by, Pune was a paradise of architectural splendour. The wonderful structures still remain, reminding us of their days of glory, but those days are well past them. Due to a lack of sensitivity and care for our past, these structures are now but a pale shadow of their beauty. Virtualpune examines the state of some of them.

References

http://www.egovpmc.com/tp/townplanning.asp

http://www.unipune.ernet.in/chairs/iprchair/

http://www.unipune.ernet.in/chairs/iprchair/