DUE DILI­GENCE IS A MUST

HT Estates - - NEWS -

There are a num­ber of things that NRIs must keep in mind be­fore in­vest­ing in prop­erty in Delhi/NCR. “Al­ways in­vest in a de­vel­op­ing ar­eas like Gur­gaon, Dwarka Ex­press­way, Ya­muna Ex­press­way or Ghazi­abad. If you are buy­ing a ready-to-move-in prop­erty in re­sale, make sure you get le­gal clear­ance. The ti­tle of prop­erty should be clear and the seller should have the re­quired right to sell it, es­pe­cially if it is in­her­ited or is a joint prop­erty. Check for out­stand­ing elec­tric­ity/wa­ter bills or any other dues that are pend­ing. Take a no dues cer­tifi­cate from the seller at the time of pur­chase,” adds Ad­lakha.

NRIs should take the bank re­lease let­ter from the con­cerned fi­nan­cial in­sti­tu­tion if the prop­erty had been mort­gaged as se­cu­rity in any type of loan. In case you are buy­ing an un­der-con­struc­tion prop­erty from a builder, check the builder’s rep­u­ta­tion. “Make sure that the con­struc­tion plans are ap­proved and check if all clear­ance cer­tifi­cates like en­vi­ron­men­tal, etc are avail­able with the builder,” says Ad­lakha. Banks will only fi­nance the prop­erty if the project has le­gal and tech­ni­cal clear­ances in place. Have a trust­wor­thy rep­re­sen­ta­tive in Delhi/NCR.

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