Buy property in india

v While buying a buy property in India, you might have made the full payment and got the key in your hand, but until or unless all documents are completed do not mistake to understand the property belongs to you.

Know what the documents necessary for your property are.

v Whether you are buying a new property or an old one, in both the cases ensure to get the documents completed with in the stipulated time. In case you are buying a buy property in India from a builder, then you would have to deposit certain documents with finance company who is giving you loan. Therefore, ensure to get the following documents :-

1. Original allotment letter of the house.
2. Original receipts for the amount you paid to the builder.
3. A legal title certificate wherein it has been explained that the builder or developer is the owner of that particular buy property in India and the same has not been mortgaged by him.
4. In case you are constructing your house after buying property in India, then take an original conveyance deed for transfer of ownership right wherein it has been explained that the land is free from all encumbrances.
5. Also obtain a copy of original copy of agreement executed with the builder.
6. Title deed of the builder wherein it has been mentioned that the builder has the right to develop that land or not.
7. A certification mentioning that no loan has been sanctioned against this property during the last 13 years.
8. The receipts for payment of all upto-date taxes.
9. Completion certificate.
10. Sanctioned building plan/ license.

k. Copy of CLU order issued by the Additional Collector or any other authority.

v If you are buying an old flat then you will have to secure some more documents, such as

I. Original sale deed executed by the real owner and the seller and then the sale deed executed between the seller and you (buyer).

II. A no objection certificate from the society.

III. Original possession certificate of the property.

QUALITY : WHETHER REALLY STURDY

I. Every builder claims to use high quality of material, but you also ensure the quality of construction before buy property in India.

II. To know the quality of material and finishing of the flat/ building arrange a visit along with an expert particularly concentrate on flooring, plumbing, windows and wiring because these will directly affect you daily life.

III. Before buying property in India don’t forget to see the ventilation, room placement in the house and lift facilities in the building.

IV. If the property in India, which you are buying, is located in a big complex, then look at the layout plan of each building of the complex.

V. To know what type of material is being used by the builder, few of his past projects can be seen.

BUILDER’S STRENGTHS

To buy property in India a house is the biggest ever investment of a common man, where in whole life’s hard earned capital is at stake. Ignorance of certain constituents may spoil your hard earned money. Please ensure before buying a property in India that you are investing in a right property or not. While to invest in a house is an important decision, it is equally difficult also. Therefore do not make haste in buying a house and take care of the following aspects:-

v BUILDER’S STRENGTHS

a. Before buying a buy property in India, first of all check whether the builder is having a marketable title of the land, the builder must have constructed the building on such land which must be free from all encumbrances. This will avoid you from all hassles in future.

b. To ensure credibility of the builder, check since how many years the builder is in business of buy property in India.

c. Ask the developer whether any kind of after sales service will also be provided?

d. Whether the builder has completed his past projects in time or not and what has been the quality of those projects? Or if you face any problem about the house after making help full payment whether the developer will you in that eventuality.

e. Enquire about the reputation of builder from financial institutions, brokers, friends and his present customers.

v LOCATION : WHAT IS IN THE VICINITY

1. Before finalization of deal of the house, check its location. Ensure whether the public conveniences (like railway station, bus stop, and hospital etc.) are at the same distance as claimed by the builder.

2. It is better if the hospital, school, market and temple etc. are at a walking distance from the house. If the same are at a little distance, then what are the sources to reach them?

3. Ensure your house is not located in a polluted area.If an industrial or slum area is nearby, then it is sure that level of pollution will be high there.

4. Along with location, infrastructure is also an important factor. Do not be impressed only by location, but ensure electricity and water supply, sanitation and drainage are also proper.

5. You can also assess the future development based on the latest trend of market.. Possibly, the cost of your property may increase several folds.

v AMENITIES : HOW ENJOYABLE ARE SAME.

a) A building is fitted with various luxury facilities and to inspect same depends upon as to how much you are fond of their usage.

b) If swimming pool and health club is a part of your life, then ensure before finalization of deal that the same are available or not.

c) To day each and every developer claims to provide better facilities over the other, but don’t believe in their claims and check availability at the time of taking possession.

d) Enquire, what facilities are being provided for marketing. garden and sports.

Dream Homes with LIC

Dream Homes with LIC

Buy Property in India - With a network of more than 100 offices in the country there is no reason why you will miss their friendly services and use for better profit during buy a property in India.

This is not all; LICHFL also has an overseas office in Dubai to cater to NRI demands. To be eligible for loan, you must be in permanent service or engaged in a profession or business. You should have a stable job a regular income. In fact the organization may be able to advance you a loan under their scheme if you want to:-

1. Construct buy property in India or a new House/ Flat.
2. Buy an existing house or flat not more than 35 years old.
3. Extend an existing House.
4. Renovation/ repairs to an existing House/ Flat.

The loan amount is determined on the basis of the repayment capacity of the applicant/s . Repayment capacity taken into consideration factors such as age, income, dependents, assets, liabilities, stability of occupation and continuity of income, savings etc. The maximum loan would be Rs.100 lakhs per unit to any individual applicant. It can be extended upto 85% of the cost of property value (including Stamp duty and Registration charges.

It grants term upto a maximum of 20 years (maximum 10 year under Griha Shobha for NRIs and maximum 15 year under Griha Lakshmi). The term of loan under no circumstances exceed the age of retirement or completion of 70 years of age whichever is earlier.

The security for the loan is the first mortgage of property to be financed by way of deposit of the title deeds, subject to local laws. You will also be required to furnish one guarantee from a person of sound financial standing acceptable to LICHFL, preferably from government/ Public Sector and then see your dreams turn into reality.

Courtesy: HT Dtd. 29-03-07

Dream homes become a reality

Dream homes become a reality

Buy property in India has always been one of the most cherished dreams for most of us. With more and more banks and financial companies coming up with interesting loan options, to buy property in India. However, certain institutions are a class apart. LIC Housing Finance is one of them.

Here are some reasons why a loan from LIC Housing Finance Ltd. means complete peace of mind.

v Lowest Interest Rates.

v Easy application, quick approval.

v Insurance-Linked security.

v Largest Network.

v No Hidden costs.

With a network of more than 100 offices in the country there is no reason why you will miss their friendly services and use for better profit during buy a property in India.

Courtesy: HT Dtd. 29-03-07