How to Buy a Land

Topics: Broker, Property, Ownership Pages: 2 (566 words) Published: May 19, 2013
How to buy a Land:

1. Contact land Owner / Broker in the particular Area which is DTCP Approved where you are willing to buy and has Growth Perspective. 2. Know the Actual Prevailing rate for that particular area (For the Information, you can contact the Land Owners, Construction Builders, Trespassers in that area) 3. Find the person who can sell the land at the lowest price cost within the particular area and negotiate the price with the concerned broker / land owner 4. Give the respective Land owner / Broker the Advance amount with proper physical evidences and get the Xerox copy of the particular Sale Deed of the document 5. Get Encumbrance Certificate for that particular land for 20 years and contact Legal Advisor for any litigation if any. 6. Once cleared of Legal Issues for purchasing the land, fix the date of registration after consent with the broker (if any), land owner and 2 physical evidences 7. Try to prepare for the Financial Aspects for the following : A. Actual Amount to be paid to the Land Owner

B. Registration of Land in Sub- Registration Office :
* Avail the details of Government Guide Line Value for 1 Sq. Ft and calculate for the total amount of Sq. Ft of land you are about to purchase. * Once you are aware of Guideline value for the entire piece of land you are going to purchase, be well prepared for the following aspects :

* Buy Stamp Paper for 7% of the Government Guide Line value for the Particular piece of land * Tax payable to Sub Registration Office for 1% of the Government Guide Line value for the Particular piece of land C. Contact the Document Writer who can type the document with proper accuracy and at cheaper rate. Verify the rough copy of the document they provide with the Xerox copy of the seller document for the details regarding the survey number, address and so on. Ensure that Name, Address of the buyer is properly typed without any typo errors D. Know the Brokerage Amount...
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