Checklist for Buying a Property or a Flat in Zirakpur

Steps to check title

1 Go to the sub registrar office. Check the area and plot in question for past 12 years. See the description given in the records matched with that of the seller claimed and ensure he got the title free from any fraud and discrepancy.

2 The property should be free from all sorts of encumbrances, loan and mortgage.

3 Check that the builder’s project is approved of all the plans, clearances and NOC’s from all concerned department. It is best to have authority letter from the buyer to inspect the records to avoid all the confusion. If the project is funded from a nationalized bank than the chances are more that the clearance is already there but still you must check it.

Base Price is (Undivided Share (UDS) of land and cost of construction and raw materials) 3/4^th of Cost, Rest Component takes 25% of the cost- PLC, Parking, Club membership maintenance civic amenity ,external electricity, fire fighting

Taxes- Stamp duty- 2-6% , Registration is 1%

Service tax and VAT charged for under construction flats

Clearances Required from :

1 Clearance from Municipal Authorities regarding Floor tower approvals,

2 AAI Approval if it is high rise building

3 Environmental and Pollution control board clearance

4 Fire Deptt. Clearance 

1 Property Info 

2 Legal Description 

3 Deed Information 

4 Mortgage Lien Information 

5 Encumbrances and Comments 

6 Property Tax information 

Now, Know what is Super Built Area and Carpet Area

Super built area includes common areas such as staircase, lobby etc .

Carpet Area- 30% less than the Super built area. The area within 4 walls . For e.g 1000 sq.ft bhk will have only 700-750 sq.ft. to live. For purchasing a flat, see the total built up area that you can have to construct your flat. 

Before buying do check Approval and Licenses. 

Approval and Licenses- Commencement certificate for work, environmental clearance and approved building plans

1 Title Deed- Check whether builder has purchased the land or just has developing rights. Get the deed examined by the Lawyer. NOC from appropriate body is required not just from any local body and panchayat.

2 Release Certificate- In case of resale of a flat, get the release certificate from the bank just to confirm that the loan has been prepaid. Check Encumbrance certificate as well to see the land is free from all legal dues.

3 Verify Land use- Verify the land use plan as per the city master plan for the plot. You can get the plan from the local body.

4 Approvals of local body MC- Entire lay out is approved and sanctioned from the legal body.

5 Property Tax Receipts- Get it from the previous seller and ensure there are no pending bills. 

Registration of flat is not compulsory but is a standard practice before having the possession of the house.  12 years of previous possession has to be checked,

RTI – To get the title deeds verified you can also file the RTI in concerned department. For example in Zirakpur, it can be done on this link : http://gmada.gov.in

Registration Charges for buyer

1 Stamp duty

2 Lawyer expenses

3 Affidavits and paper work required for registration purposes.