In India, there is a shortage of land and land prices are quite high. Therefore, it is important that you do not rush into this purchase. What you need to do is to double check the details of the land before making the final decision. Below are some important things that you might want to consider before buying land in Bangalore.
The property title
Title deed is one of the most important documents to be verified before buying land in India. Make sure the seller has this document in their custody, as it is proof of ownership. With this document, you can check the history of land ownership.
The deed of sale
It is the deed of sale that allows the seller the right to sell your property. The deed of sale must be with the seller. You may want to create a draft deed of sale on stamp paper. In addition, the deed of sale must show his name and address, as well as that of the seller. In addition, you must describe the details such as the area of the land, the address and the location.
Make sure both parties have decided on the payment amount. Also, if you have to pay a certain amount as a down payment, make sure that this is mentioned in the deed of sale.
The lien certificate
The plot of land must have the lien certificate. This is important because the land you want to buy may have been mortgaged to another party, such as a bank. With the lien certificate, it can be verified that the land is free of all types of legal procedures and mortgages.
The land must be turned
Karnataka land is considered as agricultural land. And if a seller wants to use his land for construction, he must convert the land to nonfarm land. Once the conversion is done, the value of his land will increase considerably, especially if it will be used for construction projects. The seller must contact a deputy commissioner for this purpose.
The Department of Urban and Rural Planning will provide a NOC for land conversion. The Deputy Commissioner will confirm that the land is approved by the authority.
The land must have an A Khata certificate
The land should be “A Khata” which means “account”. In simple terms, Khata can help you find out more details of the land by contacting the municipal registrar. If the land is okay, it means the owner pays the property tax. Also, a land of Khata is classified under the jurisdiction of Bruhat Bengaluru Mahanagara Palike.
On the other hand, there are the B Khata lands. They are within the municipal term or outside the municipal term and do not have valid sanctions or licenses. Actually, there is no real existence of B Khata. It’s just a registration with the BBMP. And the record does not speak of ownership. Instead, it states that the owner pays the property tax. Just make sure that the land he wants to buy has A Khata certificate.
In short, buying land in Bangalore is a profitable investment as long as you keep these important factors in mind.
