Newsha

07/03/2020

As per ECONOMICS TIMES times Tata Housing will allow women customers to pay only 20% of the agreement value while the rest balance can be paid on taking possession of the property
HAPPY WOMEN'S DAY

Tata Housing will allow women customers to pay only 20% of the agreement value while the balance can be paid on taking possession of the property.

04/03/2020

LIST OF DOCUMENTS YOU NEED TO CHECK BEFORE YOU BUY A PROPERTY #

Are you planning to buy a ready-to-move apartment? Newsha lists the property documents you must check before proceeding with the purchase.

We advise that prospective buyers should be aware of certain procedures and norms while finalising their purchase decisions. Newsha , states that buyers must be well acquainted with the paperwork involved in the home buying process. Not only will buyers have to furnish details and documents to authorities and the bank, if they are availing a home loan, they must also check certain documents to ensure clear title of ownership and government approvals.

What are the documents to be checked before buying a ready flat?

Here is a list of crucial documents that must be verified while purchasing a ready-to-move property:

Sale deed

A sale deed tops the checklist while verifying documents for your new home. It is the core legal registered document, which acts as a proof of sale and transfer of the property. It is advisable to read the fine print and check all terms and conditions before signing the deed.

Completion/Occupancy Certificate

A Completion Certificate (CC) is issued by the municipal authorities on the completion of the project. Meanwhile, an Occupancy Certificate (OC) is issued by a local government agency once a project is completed and deemed fit for habitation. This certificate reads that the property has been built in accordance with the approved codes and other laws making it suitable for occupancy. Both these documents are mandatory while seeking loans from banks and financial institutions or while applying for water, sanitation, and electricity connection.

Building plan

Building plan is another document that needs to be cross-checked before finalising a property purchase. Usually, a building plan is approved by the local municipal authority. Also known as a site plan, this document will contain a blueprint of the project, equipment layout, and utilities. Buyers must ensure that the layout of the building or project has been duly approved by the local authorities. Any unauthorised or additional construction runs the risk of being demolished or denied occupancy later on.

Encumbrance certificate

It is also important to verify that the property does not have any dues for which a buyer must check the encumbrance certificate. An encumbrance certificate provides evidence that your property has no monetary and legal liabilities. The certificate can be obtained from the sub-registrar’s office where the property has been registered.

Mutation certificate

This document identifies the owner of the property in government records and establishes their tax liabilities.

newsha states that it is necessary to be an informed homebuyer as it will help avoid legal hassles in the future. Buyers are advised to seek help from a legal expert for vetting all documents. Spread post to make sure your friends are aware

28/02/2020

IMPORTANT THINGS TO KEEP IN MIND BEFORE YOU BUY A HOUSE

Investing on a new house or flat is one of the most crucial decisions of your life and is probably an idea you have been nurturing since a very young age. Years of saving and years of planning cannot be let go at the right moment when you make the final decision. Hence, you are required to keep all possible points in mind before you take the leap and make a selection. As buying a house might also involve taking a good amount of loan, followed by monthly installments flowing out of your income, you need to be extra careful. Although some of the key factors to be considered while zeroing in on a new flat or house is location, possession date and price, there are some more parameters that need to be looked in to, while purchasing a new flat. They are:

1 Property Price:
The first step in selecting a house or a flat is to fix a budget. It makes it easier to shortlist a house if you know how much you are willing to spend on it. Compare the price of the property in question with the ones surrounding it from various builders to get an idea if the builder has offered you a genuine quotation. There are many ways where you can get a comparative of properties in the area you are looking. Portal listings, brokers of the area or newspaper listings are such sources.

2 Flat’s Carpet Area: Usually, a property’s area or the super built-up area that is listed is the entire area including shafts, elevator space, stairs, thickness of walls and others. However, carpet area is the actual area within the walls of the flat. This are can be 30 per cent lesser than the built-up area or the area used to calculate the price of the property. In some cases, when a floor is shared between two owners, the price of the common spaces are shared between the two.

3 Land Record: The land on which your flat is built is very crucial. You must research about the soil quality and topography of the land on which the house is constructed. The plot should also be clear of all dues and be registered. Before buying a house, the title deed must be verified and checked in detail. The deed gives all details on the rights, ownership and obligations towards the property.

4 Legal Check of Property: Ensure the property is legally authorized to be constructed on the plot it stands on. The developer should have approvals and NOCs from Area development authorities, water supply and sewage boards, electricity boards and Municipal Corporation. However if you are taking a home loan, the concerned bank will validate your property documents before loan sanction.

5 Apartment Possession: It has become a trend of delayed possessions of flats owing to delay in commercial and residential plans. As a buyer, you should have a clear estimate of the timeline for possession. Usually, a developer ask for a six-month grace period, however there should be a valid explanation for the same.

6 Financing Banks:You should be aware of the banks that are willing or not willing to finance certain builders. Owing to a bad reputation, some banks do not offer loans to some builders. So, it is very important that you check with the banks that are filling to fund the project you are planning to invest on.

7 Builder-Buyer Agreement:When you select a flat or house of your choice, you can book the same by giving a token amount, in return of which you get an allotment letter. Then, a tripartite agreement is entered upon between the buyer, the bank and the builder for the rest of the amount. This agreement should be read and understood in detail before signing it. All the clauses must be clearly understood and if any doubts, should be raised at this point itself.
Location of the Flat:

8 Not to forget, it is important to look around the area where you are going to be eventually residing in. The amenities, physical infrastructure and reach to all the basic places are important to be analysed. These factors will help you have a peaceful living in the house. The flat should be in a safe and secure place, offering some security to families living in the flat.

9 Location of the Flat:Not to forget, it is important to look around the area where you are going to be eventually residing in. The amenities, physical infrastructure and reach to all the basic places are important to be analysed. These factors will help you have a peaceful living in the house. The flat should be in a safe and secure place, offering some security to families living in the flat.

Or you can give us a chance we will look after all these points
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28/02/2020

Myth about south facing properties

Over a period of time, South facing houses have earned a very bad reputation and many people believe that – each and every – South facing house is bad; however, I must tell you that it’s a huge “misconception”. In fact as per vastu shastra, a South facing house can be the very auspicious h...