These days it’s really cumbersome to purchase a property which is clean and the documents are such so that the transaction can be completed smoothly and without any hassles .
Kindly do discuss and make the following enquiries about certain issues with the prospective Seller(s) before you enter into any ATS (agreement to sell ) with him/her or them :-
1). Whether the property under reference is a free hold property or lease hold . In case it is a lease hold property then first it has to be converted into a freehold property otherwise registration of sale deed is not possible.
2) Whether the original documents are in the owners possession and if at all they are ,then you must have a glimpse thereof.
3). Is there any occupant other than the family members or any tenant etc in the subject property being offered for sale .
4) Whether there is any Title search report available with the Seller with respect to the subject property.
5) Time schedule for delivery of possession of the property and schedule of payments to be made must be discussed beforehand .
6) Whether there is any litigation pending with MCD or any govt authorities or any person with respect to the subject property in any Court of law.
7). Latest house tax returns and Mutation orders passed in the name of the Seller by the MCD.
8) latest electricity bills from BSES Rajdhani or any other organisation.
9) latest water bills from the Jal Board
10) Other encumbrances or pending litigation on the owners with respect to the subject property or claim thereof if any .
11) whether the house has been built as per the sanctioned plans or is there any unauthorised construction.
12) Whether there is any Form C (Occupancy certificate ) and/or form D issued by the MCD .
13) in case of it being a newly made property whether the owner has been issued Form B1 and B2 and /or a Completion Certificate of the property by the MCD /NDMC authorities as per Buildings Act 2004.
14) Whether the seller has in his possession all the documents linking him to the chain of events which took place before he became the owner.
15) In case the Seller is an NRI or a Foreign Resident then the TAx deduction out of the sale consideration would be 24 percent otherwise it will be one percent as per section 194IA read with section 195(2) of Income Tax Act 1961 .
16) Form no 26Q has to be filed with the Tax Department within the prescribed time.
17) whether the property has been inherited under The Indian Succession Act 1925. or through a Will . The Owner must obtain NOC from the SDM of the area.
18) Copies of all the above mentioned documents are required to be obtained from the Sellers.
19) A Term Sheet mentioning the above documents should be prepared.
20)FAR has been increased in the Master plan of Delhi 2021 to 2.25 and the height has been increased to 17.5 meters from the earlier height of 15 m. which means one can have Five floors plus stilt parking . With basement and stilts that makes it sevenfloors . Non habitable stilt should be at least 2.4 meters. It’s important to consider the New Master Plan 2021 and it’s applicability.
21. In case you follow all the above mentioned laws n procedures then you can or should execute the Sale deed and register it as per Indian Registration Act 1908 after purchasing the requisite Stamp papers as prescribed under the Indian Stamp Duty Act. 1899
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