{"id":276,"date":"2020-04-21T03:38:55","date_gmt":"2020-04-21T03:38:55","guid":{"rendered":"http:\/\/www.yeshdevelopers.com\/blog\/?p=276"},"modified":"2025-10-31T01:46:10","modified_gmt":"2025-10-31T01:46:10","slug":"property-purchase-checklist","status":"publish","type":"post","link":"https:\/\/www.yeshdevelopers.com\/blog\/property-purchase-checklist\/","title":{"rendered":"Property Purchase Checklist"},"content":{"rendered":"

Buying a piece of land or plot is a dream for everyone as land is considered to be a safe and most appreciating asset class. The purpose could be for occupation, to secure a family’s future, children\u2019s education, marriage or just an investment. Unlike countries like Australia or USA, where buying a property is as easy as buying any other product or commodity, it is quite cumbersome and a time consuming process in India. As India does not have a UNIFIED CIVIL CODE, land laws are governed by different statutes. There are no standard checklists to verify the property documents as land in India is a state subject and local laws are also to be studied in addition to the centrally governed acts.<\/p>\n

Due Diligence checklist before buying a plot in the state of Karnataka :<\/p>\n

\u25aa <\/span>Mother Deeds<\/div>\n
\u25aa <\/span>Chain of title flow<\/div>\n
\u25aa <\/span>RTC and revenue documents<\/div>\n
\u25aa <\/span>Is the property an ancestral property or self acquired?<\/div>\n
\u25aa <\/span>Family tree of the sellers issued by the local Village Accountant to be verified<\/div>\n
\u25aa <\/span>Absolute sale deed & Khata in the present sellers name<\/div>\n
\u25aa <\/span>Latest tax paid receipt<\/div>\n
\u25aa <\/span>If there are any encumbrances \/ loan on the property and how the same will be cleared?<\/div>\n
\u25aa <\/span>If it is an ancestral property, has a partition deed, release deed etc been executed between the family members?<\/div>\n
\u25aa <\/span>As per Supreme Court judgement, all children, be it a son or a daughter, have an equal share in any ancestral property. Hence, are all coparceners a party to the sale deed?<\/div>\n
\u25aa <\/span>Verification of original documents<\/div>\n
\u25aa <\/span>Conversion order for change of land use from agricultural to residential<\/div>\n
\u25aa <\/span>Approved layout plan<\/div>\n
\u25aa <\/span>Unique Property ID \/ E-Khata in the name of the seller. In the state of Karnataka, sale of revenue sites (B Khata \/ a piece of land that does not have all requisite approvals) are banned. Hence ensure that the proposed site is not a \u201cB\u201d Khata plot.<\/div>\n
\u25aa <\/span>It is advisable to check if loans are available for the land \/ plot purchase. That way risk can be mitigated.<\/div>\n
\u25aa <\/span>If the plot is part of a plotted development project, check for registration with the Real Estate Regulation & Development Act and respective state rules and the compliance there of<\/div>\n

 <\/p>\n

It is also advised to go with a reputed land developer with a good track record to entrust your hard earned money. A second opinion with an expert will also help.<\/p>\n

Be Diligent, invest safe & build wealth!