Your dream house

If you intend to purchase an immovable property, the following precautions are required:
1. Take first hand information about the title, ownership and present status from neighborhood. Even that chai-walla or pan-wala of nearby locality can provide you valuable tips in this regard. Normally people satisfy themselves after getting a non-encumbrance certificate/ title clearing certificate.
2. Latest Non- encumbrance certificate/Title Clearance certificate have to be obtained from the advocate but it should be verified from other sources. Visit to the office of Municipal Corporation . Obtain the information whether the builder has taken the necessary permission and the construction is as per the norms and as per the sanctioned plan. Whether the builder has encroached any piece of land. Whether builder has paid all the requisite dues/amounts to the corporation. This point is very important. In some of the cases, particularly in new societies, builders simply hand over the society's charge to the occupants and after taking over the charge, in due course the occupants realizes that society has to pay various amounts pertaining to sewage, gutter or other charges to the corporation which the builder was supposed to pay.
3. One has ti be very careful while going for a plot of land for bunglow. It should be a non-agricultural land. Visit to the concerned Registrar office and obtain 7/12 extract of the property by paying a small fee. Also obtain 8-A extract. By these documents the status and ownership of the property would be established. In some of the States, these information can be obtained online.
4. Before any transaction, give a public notice in a newspaper inviting objections from the third parties, if any , pertaining to the said property. This will save you from future litigations.
5. Thoroughly grilled the builder about the water, electricity, generator, lift and everything specially a slot for your car. After all, you are going for a life time deal investing your hard earned money and the builder is not sitting for a charity. He is not a saint. He has to extract the maximum from every deal. So be careful.


Always insist for cheque payment to the builder towards initial payment or booking amount. However most of the times, builder refuse to accept cheques. Then insist for receipt, albeit on a plain paper. Now-a days there are many fraud cases where builder has sold a property to more than one person and has even issued share certificates to the purchasers of the same property. You have to be very particular and vigilant on this issue. After booking, execute an Agreement to Sale with the builder and get it notarized. The averments should be very specific that the builder has accepted the initial amount and has booked the property in your name. Further, after receiving the entire amount, builder would hand over the possession of the property on or before a particular date free from all encumbrances & with a clear title. Further, builder promises & assures that the rates would not be increased in any circumstances and prior to this, the said property neither booked nor any share certificate was issued to any person or persons. Give a public notice in a newspaper that you have booked the property from the builder ( name) and going to purchase it being the first sale of the said property and the builder would be issuing share certificate in your name. Invite the objections within the stipulated period pertaining to the property in question. This exercise would definitely shield you from unscrupulous persons/claimants (if any) in future.

So, if you are having original Share Certificate after taking the aforesaid precautions, you need not to worry about the registration of the property. (in case of finance/ home loan, original share certificate goes to the bank from where you have availed the loan. Don't forget to obtain from your builder True copy of the share certificate notarized) . It depends upon the individual's perception whether to go for registration or not. If you want to take extra precautions and you have apprehensions that in due coarse of time, any possible complications/ litigations may arise about the title/ ownership, then go for registration. It is a process by which your rights, title & interest on the property would be recorded in the Govt. records. It is admissible as evidence in a court of law. For registration, one has to pay the Stamp duty based on the market value of the property. The market value of a property can be obtained from "Jantri" issued by the Govt.
For registration, don't rush to a hi-fi advocate. Any young advocate, having 4-5 years experience can do it with a minimum time & money. However, negotiate the fees before entrusting the job.