Property investment will remain evergreen. In Bangalore, the new generation is focusing on buying unconstructed plots for making spacious homes. Buying such land requires investigation. Is it agricultural or has the farmer given up the rights to the builder who have made it NA? Many such plots for sale near Devanahalli have evoked buyer interest. In case you wish to buy such a plot or resale property then investigate the antecedents. Hire a real estate lawyer to authenticate the documents. Then with a ready checklist, the process of buying residential plots in North Bangalore region will be a wise decision. We provide the necessary guidelines to make a genuine deal in this part of the city.
Why legal verification and expertise is essential
Many scams related to property development have surfaced in the recent past. Reports of GPA scams have scared the investors from buying residential plots in Devanahalli, Bangalore even though they are ideal assets for the future. Unless you are well versed, it is better to take the assistance of a real estate lawyer to handle the legal aspects of the purchase. This is the appropriate way to proceed with the deal. Get a local lawyer or a firm, which deals in residential, agricultural, and commercial land purchase. Under their service, they will give a legal opinion on the authenticity of the plot. For the scrutiny, relevant documents pertaining to the plot will be evaluated and cross-checked. They will also do the survey, sale agreements, verify the original files and check builder reputation. Most homebuyers fail to take into account technical details, as they are ignorant and do not have the time to go through the fine prints in the documents. Hence, legal verification is required. It is the job of the lawyers to read every word in the document and alert a homebuyer for any discrepancies. If you are investing in any land for sale in north Bangalore or any other area of the city then you must allocate a budget for the legal scrutiny. There are many property valuers, inspectors and lawyers who do such work for a reasonable fee.
Purchasing a BDA site, which is slotted as compensation to the original owners in return for land acquisition in order to create a layout, has some special rules. There is an incentive scheme provided to the farmers by BDA in order to encourage the landowners to surrender their land. But buyers are unaware if the deals between the builder and original landowners are legal. As residential plots in north Bangalore have become ideal options compared to apartments the need for expert advice is not ruled out.
Any land for sale in North Bangalore can be purchased after checking the documents for their genuineness. A lawyer should be able to attest along with the authorities concerned. Due to several frauds, investors have gone on the back foot and need professional assistance to buy plots.
Good to know:
- The mula pathra is important. There is issue when some of these documents are lost over the passage of time. The buyer should ideally fetch the last registered document from the seller and then track the earliest registered document available with a help of a veteran property lawyer.
- The Khata certificate is being issued by the BBMP, the village panchayat or the BDA in the name of the existing owner of the concerned property.
- The possession letter is issued by the BDA in favour of the existing owner. This particular document contains all the necessary details and records of handing the property to the current owner.