I have finalised a BDA property in J.P Nagar 9th Phase. The site is with an intermediate inverstor as per the broker. I am speaking with the investor on rates, duration and payment terms. The registration will be done by the site owner who i havent met. Can you please let me know what are the checks i need to do before proceeding with this site? should i be checking for an agreement between the site owner and the investor? What are the other documents i will have to check other than the usual documents. I havent yet had a word with my Lawyer. I would like to take view of you guys before proceeding to getting the document from the broker.
FYI the site owner is the Allotee.
Regards,
Prasanna.
Documentation check for land purchase
Re: Documentation check for land purchase
I checked for Khata, Sale Deed, EC from original date till date when buying BDA site.
Just curious whats is the price n loc of your site.
Just curious whats is the price n loc of your site.
Re: Documentation check for land purchase
The agreement between the owner and the investor is of not much importance.
your check list must start from the BDA Allotment letter to the original allottee to the current owner's latest EC.
some of the documents are like this.
1) receipts of Amount paid to BDA towards the Site.
2) BDA Allotment Letter
3) Absolute Sale Deed between BDA & Original allottee
4) Khata
5) EC from BDA till the original allottee registration
6) Family tree of original allottee
7) Taxes paid receitps.
8) Bank Loan closure Doc(if any)
9) Sale deed from first allottee to the subsequent buyer.
10) Khata transfer
11) Khata Extract
12) Taxes paid till date
13) Latest EC
your check list must start from the BDA Allotment letter to the original allottee to the current owner's latest EC.
some of the documents are like this.
1) receipts of Amount paid to BDA towards the Site.
2) BDA Allotment Letter
3) Absolute Sale Deed between BDA & Original allottee
4) Khata
5) EC from BDA till the original allottee registration
6) Family tree of original allottee
7) Taxes paid receitps.
8) Bank Loan closure Doc(if any)
9) Sale deed from first allottee to the subsequent buyer.
10) Khata transfer
11) Khata Extract
12) Taxes paid till date
13) Latest EC
Re: Documentation check for land purchase
Hello Prasanna ,
The deal mention is a complex one . First agreement between the site owner and the investor, should be cancelled . A fresh agreement between you and the site owner should be arranged . Otherwise , the investor might turn against you at any point of time . The sale agreement between you and the site owner is required for registration .
Along with the documents mention by msn1270 , No Object Certificate from BDA or Society to sell the property and EC for nearly 20 Years are required ..
The deal mention is a complex one . First agreement between the site owner and the investor, should be cancelled . A fresh agreement between you and the site owner should be arranged . Otherwise , the investor might turn against you at any point of time . The sale agreement between you and the site owner is required for registration .
Along with the documents mention by msn1270 , No Object Certificate from BDA or Society to sell the property and EC for nearly 20 Years are required ..
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arigilamurali
- Posts: 67
- Joined: May 7th, 2010, 9:37 am
Re: Documentation check for land purchase
Dear Prasanna,
if you are sure that there is one agreement of sale between owner and investor, first you insist them to cancel that agreement and you proceed with venture
Or alternative you take the signature of the agreement owner as consenting witness narrating the fact of excuation of agreement and cancellation of the same.
r,murali
advocate
arigilamurali@gmail.com
if you are sure that there is one agreement of sale between owner and investor, first you insist them to cancel that agreement and you proceed with venture
Or alternative you take the signature of the agreement owner as consenting witness narrating the fact of excuation of agreement and cancellation of the same.
r,murali
advocate
arigilamurali@gmail.com