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property
Are you buying your sweet home from a builder? This might be your most cherished dream. But hold on, Don’t you think it is high time that you need to check the property documents with due diligence.

With Campa-Cola Compound demolition in Worli, Mumbai  2013 still fresh in the mind it would be smart to know the verifications that you need to do to avoid the unfortunate fate of 140 families in Campa-Cola Compound in Worli. So let us be sure on the property that you are willing to buy. How do you prove that you are Indian citizen? How do you prove that you are working in a company through relevant documents like an Election Photo Identification Card (EPIC) and Offer Letters.

Likewise, we do need to check those property documents so as to not lose sleep over any issues later. Let us now look at the documents that are to be examined before you put ink on that dotted line to buy your dream property.


Land Record:Title deed is the most important document as it gives details about ownership, rights, obligations and mortgages on the property. So it validates whether the land where the project is coming up has been registered and development rights transferred. Get a copy of it from the builder and cross-check the information with the land record office.


Construction Clearances: A ‘certificate of commencement’ is mandatory to commence any construction of a property. The certificate is issued by the town planning and engineering department post the inspection of the basic foundation for a superstructure and building boundaries. This also means that the builder would have obtained the required licenses, sanctions and permissions for the map that are required before you can even start excavating.


Approved Planning: It is good to run an additional check and verify that the building plan and layout plan has been approved and no bylaw applicable in the area has been broken. Make sure that the floor where you have booked your flat has been approved in the building plan. The layout should be in accordance with the National Building Code of India (NBC). NBC is a comprehensive guideline, a code, for regulating the building construction activities across the country. Get this document verified with the local municipal authorities. Also, some projects claim a ‘green status’. In that case it should be either certified by the Indian Green Building Council or be rated by Green Buildings Rating System India (GRIHA), a TERI University initiative. The focus areas of all such certification for a building are energy, water and waste management. There are a couple of other rating systems also available right now in India, but?GRIHA?is the most popular and has standardised norms.


Land Use Certificate: It is illegal to have residential properties on a commercial or industrial zone. Apply to the urban development authority and check the certificate to ensure that the property you plan to purchase is in the residential zone. Sometimes the land will be in what is called a ‘converted zone’. Cities are expanding and often agricultural land is converted for non-residential usage by paying a fee to the government. In such a case, check for the endorsement order given by the tehsildar or deputy commissioner of the zone that licenses residential construction on that land.


Master Plan of the Area: Often builders claim future infrastructural development of the area such as upcoming metro or highway near the project. Don’t believe everything blindly. Look at the area’s master planning to verify. These plans are easily available with the town planning department.


No Objection Certificates (NOCs): The builder should also be able to give you a copy of the urban land ceiling NOC (if applicable), an environment clearance NOC as well as NOCs from the electricity, water and lift authorities, if there is one. Apart from the threat of a legal battle, you also compromise on safety. Illegal construction continues to mushroom in unplanned areas of our cities to accommodate the growing population. There is no homogeneity in terms of plot sizes, street widths, height, and gross built area in these locations. Old buildings that collapse are ones that have been built without proper permits and lack structural safety standards, said Sachin Sandhir, managing director, RICS South Asia, a self-regulatory professional body dealing in land, property and construction. You must remember that if the government decides to evict you from your house, which is proven to be illegal, you have no choice but to vacate. Living in the anticipation that the house will eventually get approved is like betting in a casino.


For a trustworthy Professional advice on this matter Contact us.
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Contracts and Agreement, Contracts and Agreements, property

Rental agreement is an important document which defines the legally binding relationship between the tenant and the landlord. Usually, a broker is involved in carrying out the initial transaction between the two parties. However, both the parties can also take help of a lawyer to draw the rental agreement.

A rental agreement is a legal document which lays down the conditions on which relationship between the landlord and the tenant is determined. Seeking a home for rent and settling down on one may turn out to be a matter of contention on many grounds. The tenant may not pay up the rent on time or there may be disputes with the land lord on numerous matters.


Rental agreement details 
would determine how disputes are to be handled and how both parties would carry out their respective duties.

 

Here are few facts that you should keep in mind to make the agreement legally binding and valid.

Always insist on presence of two non-beneficiaries while the rental agreement is being signed between the two parties. The rent agreement ought to be signed by the two non-beneficiaries to make it a valid one. You can register the rental agreement by paying a stamp duty.
Registering the rental agreement would mean that it would have more power invested in it, rather than being just a valid document. In order to make it a smart rent document, it should contain the duties and responsibilities of all the parties concerned. A smart rental agreement would also include names of all the people living in the building. If the agreement contains names of everybody living under the same accommodation, then it lays down the ground for the usage of common property among all the tenants.


The agreement should contain the tenure of tenancy. Specific dates from which date to which the lease of the agreement would be valid have to be mentioned. The rental amount has to be clearly mentioned in the document, along with the amount deposited in the account. The agreement must contain details related to terms of deduction and return of the deposit money. The agreement should also include due date of payment of rent and the grace period. It also should contain the mode of payments through cash or cheque or draft. The agreement should detail the procedure for rent escalation every month for example, many owners raise the rent by 5% every year. It is the duty of every tenant to keep the rented place clean and undamaged. Hence, maintenance and repairing responsibilities should be mentioned in the rent agreement.


Alongside the rent value, maintenance fee payable every month and the payment date should also be in the agreement. While minor repairments are to be handled by the tenant, major repairments are taken care of by the land owner.


The landlord may have some restrictions regarding movement, parking usage or may have particular usage of property resources. These decorum details are to be recorded in the rent agreement so that there arises no disputes between the parties. Some rented properties may require certain society rules to be adhered by the tenant or some land lord may not allow certain activities on his/her compound. All these should be in a documented form. Every tenancy agreement should contain details as to how to renew the agreement. The terms and procedure of renewal of the rent agreement as well as the notice period the tenant would have to serve before leaving the rented home have to be recorded in the rent agreement.


The rental agreement’s rules and conditions lay invalid if any or both the parties do not adhere by them. Hence, it is of extreme importance that the agreement contains notice period. Important sections to cover in rental agreements Rental agreements need to be written in a stamp paper and signed by tenant and landlords. Here are some common agreements or conditions that need to be included in an agreement for keeping property in good condition and make prompt pay of monthly rents.

  • List of things: List of things is facilities or appliance provided by a landlord to tenants along with property for rent. Things include appliances like number of fan, geyser, light fittings and so on. These things cannot be taken with them by tenant when leaving property.
  • Due date: The date for paying each month?s rent and the date when it is considered as late payment. If there is any charge for late payment and time to take action when continues default.
  • Right to enter: The date or time from which?propertyis let to rent. Tenant need to inform prior to landlord from when he starts using the property or building.
  • Garbage: Need to specify orally or in written where to keep garbage for collection by garbage collector and how to dispose garbage. The improper dispose of garbage creates problem for fellow tenants and for it become health problem
  • Policies: Policies regarding parking vehicle and whether pets are allowed in the premises or not. These have to be clearly mentioned in rental agreement than become problem in future.
  • Notice period: Tenant should give at least one month notice prior to leaving and demanding for deposit. Landlord must ask a reasonable time for giving back deposit.
  • Restoration: Conditions which need to restore the dwelling place or building. It includes repairs and paintings, plumbing if required and so on.


A landlord should ask identity of person who are using the property. Remember not to give your property or building for people who have criminal background or do not allow continuing if you doubt on their action or if they involved in some anti-social activities.

 

For a trustworthy Professional advice on this matter Contact us.

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