Noida is one of the most developed and famous cities in UP. The city is in fact, the largest planned industrial town in Asia. Due to the rapid economic growth, urbanization of the town is at a fast pace. The role of the real estate segment of industry indeed becomes quite significant for the ever expanding city. Renowned developers of the region hence have taken up the mammoth task of developing ground breaking real estate projects.
Buying a property is once in a life time experience for many. It has to be done in a flawless way so that the buyer do not have to suffer from any kind of trouble in future. Let us share some legal guidelines on how to buy property in Noida.
Legal Tips on How to Buy Property in Noida
Make sure the property is in the name of the person selling you.
You must get the original deed checked by the lawyer for legal confirmation. If possible you may also ask for the previous deeds of the land before verification.
Do not forget about the sales deed. Ensure that the property you would be buying should not belong to any society, building development authority and such.
Before you make the final payment, you must make sure that the property is cleared of all dues like property tax, electricity bills, water bills and many such.
Once you settle down with all the legal and financial issues with your seller, now comes the time of signing of the agreement. The agreement would ensure that the owner does not change his previous commitment related to the cost of property as well as not sell the property to someone else at a higher price. The agreement is done on a Rs.50 stamp paper stating the actual amount, the amount paid in advance, time span within which the actual sale will take place and also other details of the transaction process.
The last legal formality that you have to observe is the registration. The registration is actually the proof of the transaction that takes place between the two parties. You would have to register the agreement with the Sub-Registrar of Assurance under the provisions of the Indian Registration Act, 1908 within four months from the date of execution of the document.
Notice: In accordance with FTC guidelines, we state that RealEstateProArticles.com has financial relationships with some companies and may be compensated if consumers choose to buy, subscribe or take any action to a product or service via the links on our website. Occasionally, we receive free access to review a product or service. We do not accept compensation in exchange for a positive review. These reviews are strictly the opinions of the author.
![[Valid RSS feed]](http://www.realestateproarticles.com/images/icon_Rss.png "XML Feed For RSS"){kind=icon}
Category Rss Feed
Print This Article
Add To Favorites