Scrutinise the title/vet the builder/get all required NOCs/indemnify yourself in sale agreements & deeds to forestall unpleasant surprises as a buyer
In the backdrop of the Bangalore urban district administration's demolition of the compound wall of an flat compound built by a reputed builder, this article attempts to educate a prospective apartment purchaser with the basic legal requirements to be followed. The guidelines are general in nature & not exhaustive. 1. Title scrutiny of the land: It's important to verify whether the owners of the land have clear and marketable titles. This process would entail checking the previous title deeds, flow of title, revenue records, restrictions on transfer (if any), encumbrances, etc. This will determine whether the owners have clear & marketable titles & whether they can convey the same to a prospective purchaser. Housing apartments mandatorily have to be built on land meant for residential purposes & in cases where the land is not housing; it has to be converted from its earlier non-residential purpose to housing purpose by the concerned government authority. The Special Deputy Commissioner is the appropriate authority at this point in time.
For Details of Prestige jade pavilion call @ 8971315026
2. Agreements between landowner/s and developer/builder: Some landowner/s builds the apartment compound using their own resources. However/other landowner/s enter into a joint growth agreement with a developer/builder wherein the development of the land & construction of the apartment compound would be undertaken by the developer/builder and the landowner/s' contribution to the project would be the land itself. A general power of attorney is also given by the landowner/s to the developer/builder to enable them to act on behalf of the landowner/s in obtaining approvals & sanctions & in several cases, to convey the share of the landowner/s at a later point in time. It is advisable to look at the reputation & past record of the developer/builder & satisfy oneself before finalising a project.
For Pre launch offer of Prestige jade pavilion call @ 8971315026
3. Approvals and sanctions: A purchaser has to ensure that a project has obtained all requisite approvals and sanctions. A variety of authorities under law have been empowered to accord sanctions & approvals, depending on the type of project & the region where it is located. If an apartment project is a multi-storied one comprising more than four floors under the jurisdiction of the Bruhat Bangalore Mahanagara Palike (BBMP), besides the mandatory sanctioned plan from the approving authority/the other approvals/certificates mandatorily required are the No Objection Certificates from BWSSB, Bescom, Fire Authority/BSNL/Airports Authority of India/the Karnataka State Pollution and Control Board. In appropriate cases, a commencement certificate, completion certificate, & finally an occupancy certificate are required. A check on whether the projects is fraught with deviations or violations of the building bye-laws, zoning regulations, or whether public real-estate has been encroached or whether the project is built on lake beds, also require to be looked into, to prevent penal consequences including the risk of demolition.

For the Bookings of Prestige jade pavilion call @ 8971315026