Legal Procedure for Buying NA Plots in Pune

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Introduction

• Ownership of a house, farmland, or plot is an
  important thing in ones life.
• One needs to be conscious while buying a property
  to avoid falling into a legal nuisance.
• Prior to buying a land, a number of checks need
  to be done to be sure that the land has a clear
  and marketable title.
• The legal status of the land is one of the first
  affairs that should be addressed before
  purchasing a property.

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Basic Documents Required to Buy NA Plots in Pune

• Purchasing a property needs to be a well-informed
  decision always.
• There is a lot of legal procedure involved when
  it comes to dealing with properties.
• Owning a property is risky. Carelessness can lead
  to greater losses.
• Therefore, being cautious is vital.
• With correct property papers and identity proofs,
  you can take a more informed decision regarding
  purchasing NA plots in Pune.
• Basic documents are the first thing required to
  buy a land.

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Legal Checklist (Contd.)
1. Verification of title Verify the documents
you are having are duly signed and stamped by
governmental authorities. 2. Search for the
identity of the seller It is mandatory to pay
attention to the sellers residential stature and
nationality. Land investment is a crucial
investment and requires consciousness.
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Legal Checklist (Contd.)
3. Check for the required permission The
process of converting a property for
non-agricultural use is significant. If you are a
buyer, then you must examine the plan
beforehand. 4. Construction approval The layout
plan of the property should be sanctioned by the
municipality or other concerned governmental
bodies.
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Legal Checklist
5. Non-agricultural Agricultural lands are not
meant to be used for construction. Have a look at
the necessary documents and procedures and be
sure that your land is non-agricultural. To
ensure all things are at the place, you need to
understand the checklist in details.
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What if I Am an NRI?

• For an NRI purchasing a piece of land in India is
  more than an investment.
• Many Indians have gone abroad to accelerate their
  career. This factor may sometimes make people
  homesick for staying away from their parents.

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Here is a Checklist for NRIs Looking to Buy a
Plot in India

• Purpose Your purpose should be clear.
• Transactions All transactions should be done in
  Indian currency.
• Power of attorney It is possible for a POA to
  any relative or friend who is living in India.
• Taxation If the price of the property is more
  than 50 lakh, then the buyer must pay 1 tax on
  it. This is only for the first purchase.

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Transferring the Property

• It is mandatory to have property documents while
  transferring a property.
• Transfer of property can take place for reasons
  like gifting, selling, etc.
• The Memorandum of Understand (MOU) is the first
  document that is required during this process.
• The transfer deed is used for transferring the
  existing title to someone else.
• The relinquishment deed is required when there is
  more than one owner of the same property and this
  deed relinquish all the share in that property to
  another partner.

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A lot of IT and manufacturing companies are
coming up every day in Pune. This results in a
huge demand for residential plots. Purchasing an
NA plot is the best solution for residential
needs.There are a number of real estate companies
which will help you find your ideal residential
plots. Amongst the reliable developers available,
SVB Realty is one of the prominent real estate
development companies in Pune.
Read more about Legal Procedure While Buying
an NA Plot
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Contact Us 91 8411963033
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