Documents to check before buying Commercial Property

HI What are the documents one should check before buying any commercial plot for restaurent/hotel??

Answers (4)

326 votes

The following documents are required for purchasing commercial plot for restaurant or hotel: Original Allotment document of a plot, status in it whether it is residential or commercial plot, whether it is approved by all the concerned authorities for opening a restaurant or hotel ie for Delhi - approval of NDMC, MC1, Environmental Authorities, Whether it is power of Autorney or Original sale as it should be in power of Attorney, whether it is alloted by competent authority through legally registered through registrar office, if it is second or third sale it should be checked from registrar office if it is an original sale or fake sale. Title of the plot to be cleared from all legal angel if there is any other claimant of the plot , it should not be joint plot or a family plot or disputed plot , lastly also check that whether there is any dispute pending regarding this plot within its jurisdiction

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214 votes

Firstly the land or the plot should be a commercial recognised zone. If not than the commercial conversion is a must for that land. Secondly you may opt for a DDR through a counsel who can do a thorough check on the property and can give you an legal opinion on the same. For any assistance you may contact us.

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100 votes

You should first check if the property is Residential or Commercial property. If it's a commercial property, then does it has all the approvals by the statutory authority for running a hotel. Check the original allotment letter and its originality. Get the title of the plot verified by the lawyer to check property lien, easements, covenants, conditions and restrictions(CC&Rs), agreements, resolutions and ordinances that may affect the property in question.

If you have any questions please do not hesitate to contact me.

Thanks and Best Regards,

Amit Mehta | Managing Partner
Sai & Mehta | Advocates & IP Attorneys

90 votes

Below are the documents one must check:
1. Ownership documents, how the property coming from, the chain of document.
2.Record of concern Registrar of property.
3. Necessory and mandatory starutory, and other approvals, NOC.
4.Any financial laibility.
5.Status of property, commercial, non commercial or otherwise, for which the property is purchase is approved for such purpose or not in the Concern Muncipality, or by Any State or otherwise Govt. Rules and regulations.

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