8 steps to follow before buying a home

One has to take many measures before purchasing a home. Here I have mentioned some tips I
Hope it will be helpful for you.
1. Title of property:
Clearly check the title to a property because this is one of the most important measures to be
considered before purchase. Study the whole documents clearly to ensure that the owner has
proper ownership to the property. Take search of the land records and the records of the SubRegistrar. Take search of the records of the society where the property is located. Issuing public
notice in newspapers calling for claims in respect of the property.
2. Sanctioned plans and commencement:
Certificate by the concerned authority should be inspected, especially for buildings under
construction. If the building is not built in accordance with sanctioned plans, the completion
certificate will not be granted. For buildings that are complete, occupation certificate/completion
certificate should be verified.

3. Power of Attorney:
Sometimes property is sold through a person holding power of attorney (POA) on behalf of the
owner. This POA should be closely scrutinized to ensure that it is properly executed. The
Bombay Stamp Act, 1958 was amended a few years ago whereby heavy stamp duty is attracted
on a POA in case the POA for sale of immovable property is executed to a person not closely
related to the executant. Thus in most cases a POA is executed to a close relative as defined
under the Act.
4.Tenure of Land:
if the land is leasehold and the residue tenure of lease is short and if there is no provision for
renewal on old rent, additional ground rent may be payable by the purchaser on renewal of the
lease. It is also possible that there may be no renewal clause at all.

5. NOC and Dues:

It is preferable to obtain a no objection as well as a no dues letter from the society if the premises
are in a society. In case the building is not conveyed to the society by the builder, then no
objection of the builder should be obtained. It should be verified that the seller has paid all his
dues such as property tax, service-tax, VAT and other outgoings to the society or the builder.

6. Income tax:
One may investigate whether there are any proceedings against the seller under section 281 of
the Income-tax Act, 1961. Further if the seller is a nonresident of India, TDS may be deductible
from the consideration paid unless certificate for non-deduction or lower deduction is obtained
from the concerned Income-tax officer.

7. Permitted user and Restrictions:

One should see whether the property is residential or commercial as per the Development
Control Regulations. And even check other factors such as heritage rules, set-back for road
widening may apply to certain buildings, which should also be considered.

8.Documentation
Proper documentation should be put in place for purchase of the property. The sale document
should be properly stamped and registered and the original title deeds should be taken by the
purchaser from the seller.
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