How do I buy a plot in Bangalore with proper approval and no legal issues

Buying a luxury apartment in Bangalore is a dream for many and finding the right one that is free of legal tussles is an achievement. With a drastic growth in the real estate market in Bangalore, the number of legal disputes has gone up too which has resulted in project delay and fights over land ownership. Presently, the real estate laws are in various stages of implementation across the country creating a favorable scenario for property buyers. 

Here is a checklist you can consider to know whether the property you are buying is worth investing or not:

Title papers

Firstly, the property should be free of any legal disputes with a clear title. When buying a new property, make sure the title of the land is under the name of the respective construction company. If buying a resale one, read the papers twice or take legal advice from a property lawyer to check the authenticity of papers.

Bank Approvals

Start looking for the best possible banks with an economical interest rate. If you get your home financed from the bank, the deal is half done. But again, do study the clauses before signing the loan agreement with the bank.

Encumbrance certificate

An encumbrance certificate is a mandatory document used in property transactions as evidence of free title/ownership. It also entitles the name of the owner/owners who previously owned the property. It's a very important document that ensures there is complete ownership of the property without any monetary or legal liability.

Approved map

When buying an apartment, make sure you get to see the copy of the approved map from real estate developers in Bangalore which is passed by the local authority. It gives a fair idea about the area and the construction space.

Tax Slips

When buying a resale property, always ask for property tax slips from the owner. The tax slips will provide insight on two things― 1) Whether the colony you are buying an apartment in is regularised or illegal. 2) If the property is legally registered and has no legal tussles with the municipal authority.

Registered project

Every project should be registered with a resident welfare association. This gives a clear idea about the legal process and the authenticity of the project.

There are many things you need to check and study prior to buying any property. Because it involves all your savings. So, it is important to take this checklist into consideration and make a decision with a clear head.