Investing in a plot is a very important decision in any person’s life as for some it involves a main lifetime asset. Buying a plot is a wise decision most of the time as one can build the dream house on the same. Nevertheless, it is always a wise decision to check the documents properly before buying any plot as one may be cheated in the same. One must check the proper ownership deal as well as the sale Deed of the plot. In other important documents to be checked of the land records, the purchaser should check if the builder has received Change of Land Use (CLU) Certificate.
Buying property may be a memorable dream for any person but it can become a nightmare if not done properly. It is a very expensive purchase of the life and can become a disaster if not planned financially properly. One must check if all approvals are received for the land from the owner as well as the government before buying the same. Buyer has to check the reason for which the land will be used as per Master Plans for Indian Cities. The Certificate of Commencement from Municipal Authority should also be checked. Importantly check all clauses of Builder-Buyer agreement before signing the documents.
Some of the main documents to be checked before buying a plot
7/12 – The 7/12 extract is a document prescribing details about a specific piece of land such as survey number, area, date and more particulars about the existing owner’s name that has to be checked
Title Deed: Check whether the builder has a right over the property.
Sale Deed: It is the core legal document that acts as proof of sale and transfer of ownership of the property from the seller to the buyer.
Mother Deed: Is known as the main document, is an important legal certificate that traces the origin/antecedent ownership of the property from the start (if the property has had various owners).
Commencement Certificate – One legal document that is issued by the local authorities after the reviewing of the plot
Conversion Certificate (Agricultural to Non-Agricultural land): Conversion Certificate is issued to change the use of the land from agricultural to non-agricultural purpose from the competent revenue authority.
Khata Certificate: Khata comes from the word ‘account’ of the person possessing a land. It is compulsorily required for the registration of a new land and the transfer of a land.