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Checklist Before Buying A Residential Property

By Author: Shivam Verma
Total Articles: 39

Investment starts only after savings. At the time of investing your money, you need to focus on some important factors. It is better to start investing at an early stage of life. Once you start investing, the compounding effect starts appreciating your infused capital, gradually growing it day by day. Investment requires great awareness and patience. Nobody can tell about future but can make it safe as much as possible. A person should save money or invest it somewhere like investment in property or real estate.
Purchasing plots and lands can be both very effective and safe investment of money now days. One of the biggest advantages for this type of transaction is that you can increase your money at very high speed. You should determine the correct price of the land and to list the good plots. Investors choose real estate because they can touch and feel the asset, and watch it appreciate over time. It is now easy to purchase real estate because many banks giving loans with low down payment. This allows people to buy plots in Lucknow.

Real estate is the best asset class to invest in. In true words real estate investment means different things for different investors, and has significant advantages and disadvantages at the same time. One should buy properties in Lucknow because it is developing very fast. The buyer is actually lending money to a developer hoping that he will deliver a flat in the not-so-distant future. A buyer makes a good return when they buy a plot. Everybody should invest in real estate. Do not delay buying your own real estate property. Understand what you are getting into when you buy an under-construction flat. Always purchase plot and not a home because home will costs you too expensive than plot. So every person should buy properties in Lucknow if they have enough money for the investment.

This is the foremost necessary side to be thought-about before shopping for a house. If you're shopping for a house or land owned by government, you would like to get a no objection certificate from the authorities. To induce such a certificate, you'll need to pay prescribed fees, which is able to additional inflate the thought for the property. Some important papers you should check before purchasing any property are as following-
➢ Khasra Khatauni certificate
➢ Latest tax paid receipt
➢ latest statement from bank in case of loan
➢ Agreement of sale
➢ Water tax receipt
➢ NOC from flat Association
➢ Sanctioned building set up
➢ Possession/occupancy certificate from builder
➢ All title documents of land owner
➢ Agreement between land owner and builder
➢ Copy of registered previous agreements
➢ RTC (Records of Rights and abidance Corps) or 7/12 extract
➢ Conversion Order issued by the involved Authority
➢ Registered development agreement (If just in case of Joint Development Property)
➢ Power of attorney if any

If you will check the above papers properly you won’t be deceived by anyone.

More About the Author

Shivam Verma is a renowned writer on business and investment plans

Total Views: 75Word Count: 489See All articles From Author

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