Must known facts about property registration : Tips by Devika Pragati Group

A real estate property is accompanied with several legal rights which are due to the buyer by claim or legal guarantee. The ownership is being transferred with the registration of the real estate property which could be anything like independent villa, apartments etc.

 ‘Devika Pragati Group’ recommends having a fair knowledge about the property registration.

• In a real estate property transaction, the registration of the property is the last lap of the deal between the buyer and the seller. It is a full and final agreement signed between the two parties. The buyer legally becomes the owner of the apartment once the registration is submitted at the local registrar's office.

•  Registration of the documents relating to the transfer, sale, lease or any other form of disposal of a real estate property is compulsory under section 17 of the Indian Registration Act, 1908. 

• The document check process can really be extensive and long drawn which will vary depending on whether the property is being transferred from the developer or if it is a secondary sale. But once a property gets registered, it means that the person in whose favor the property is registered becomes the lawful owner of the premises and is fully responsible for it in all respects. 
• The registration of a property involves adequate stamping and paying the registration charges for a sales deed and the same has to be legally recorded at the sub-registrar's office.

 The legal or registered owner of the real estate property enjoys the right of possession, control, exclusion and disposition of the property. The holder of the property title has the right to sell, rent, mortgage, lease or transfer ownership or use of the property at his/her own will. So the buyers must get the registration process done carefully.

Tips by Devika Pragati Group - 3 things to keep in mind while buying an Apartment

3 things to keep in mind while buying an Apartment

There’s a lot to think about while buying an apartment. Selecting the right apartment, in the right area, organizing finance and negotiating the sale-all these factors have to be considered. So here we list down tips that might be useful if you’re planning to buy an apartment in the near future.

• Select the area of your choice

While buying a house or an apartment it is very important that you choose the area as per your liking and convenience. This would make it easy for you to mingle with the surroundings in a better way.

• Small monetary differences can be overlooked

Some people tend to get too stubborn even when it comes to money and they eventually lose onto good deals. It’s always wise to do the math before getting too hung up on small price difference. If you feel that a certain property is worth buying and meets all your requirements, do not end up losing it for saving a little amount of price.

• Visit the apartment for a last inspection

Do a final inspection of the apartment you want to buy, before the settlement takes place. This is to ensure that the property is in the same condition as when you last inspected it and that all the inclusions are as per the contract you signed.

Keeping in mind the experience of running Devika promoters and builders, we can say that with a little bit of alertness and a proper guidance you can make the most amazing deals while buying the apartment of your dream.

For more detail visit: Devika Group