I want your guidance on Due Diligence on a property. Please help.
06-May-2023 (In Documentation Law)
I am planning to buy a low rise Villa in Greater Noida West. What due diligence should I take care of before buying this under construction project? Should I hire a lawyer? If Yes, how much its gonna cost me?
Hello,
the below mentioned list of precautions to be taken are not exhaustive, some of the important aspects one must look at are briefly as follows, though they may vary case to case:
(i) by studying the documents of title to ensure that the owner has proper ownership to the property. The documents of title should be studied very carefully as any shortfall may lead to a defective title.
(ii) taking inspection of the original title deeds.
(iii) taking search of the land records and the records of the Sub-Registrar.
(iv) taking search of the records of the society where the property is in a society.
(v) issuing public notice in newspapers calling for claims in respect of the property.
Regards
the below mentioned list of precautions to be taken are not exhaustive, some of the important aspects one must look at are briefly as follows, though they may vary case to case:
(i) by studying the documents of title to ensure that the owner has proper ownership to the property. The documents of title should be studied very carefully as any shortfall may lead to a defective title.
(ii) taking inspection of the original title deeds.
(iii) taking search of the land records and the records of the Sub-Registrar.
(iv) taking search of the records of the society where the property is in a society.
(v) issuing public notice in newspapers calling for claims in respect of the property.
Regards
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