Tag Archives: Residential Plots Gurgaon

Legal Documents Required Before Purchasing a Residential Plot in Gurgaon

Posted on August 17, 2014 by

Are you planning to buy residential plot as an investment without compromising on budget and connectivity? If yes, then Gurgaon is the best option. Within the heart of the city, you come across a good number of residential properties comprising of apartment flats, villas, condos, independent floors and houses. However, in recent years, there has been a trend of people opting for residential plots in Gurgaon and NCR. Residential plots have been increasingly demanded by IT professionals, businessmen, corporate executives, not for staying but as an investment purpose as the land value never depreciates. Gurgaon’s new residential projects by real estate developers are concentrating more on offering residential plots nowadays. There is great availability of plots for sale in Sector 82, 83, 105, Gurgaon Dwarka expressway etc.

Legal documents from the seller

  • The Deed Title: The deed title should be in the name of the seller and he should have the right to sell it. Get the original copy.
  • Encumbrance Certificate: You get this at the sub-registrar’s office. This is the same office where the title deed is registered. This certificate declares that the land has no legal issues.
  • Property Tax Receipts and Bills: All payments prior to your purchase should be done by the owner and he should hand over the original bills and receipts.
  • Release Certificate by Bank: Also, the bank should hand the release certificate to ensure the new owner that loans on the residential plots in Gurgaon have been repaid fully and there are no dues left.

Legal documents required by the purchaser

  • The Title Deed: The new title deed after the original seller transfers the paper in the name of the new buyer.
  • Stamp duty receipt payment: Now, the purchaser can get the residential land registered in the sub-registrar’s office with duly paid stamp duty receipt.
  • House Plan Approval/ Commencement Certificate: If the new owner wants to build a house in the plot or modify the existing one, he should take prior permission from the Municipality Corporation. The layout should be approved by the City Development Corporation and the local body. The new owner should get the commencement certificate by the Municipal Corporation to start any construction.
  • The purchaser should also receive a NOC from water, electricity, lift and other authorities etc.

Usually, it is the builder or the real estate developer who takes care of all these and the purchaser simply has to sign the sale agreement papers. Hence it is always advisable to purchase residential plots from a reputed developer or builder.

Top 7 Factors to Consider Before Buying Plots in Gurgaon

Posted on July 9, 2014 by

It is no hidden fact that in a city like Gurgaon where there has been an upsurge in the demand for residential apartments, villas and independent flats, there is also an equal demand for residential plots in the city. A plot of land is any day a valuable asset for everyone. For a person who wants to build his dream home, buying land is a better idea. You choose your choice of location and you build the house as per your choice. However, there are certain factors to be considered to buy a plot of land in Gurgaon.

plots in gurgaon

1. Location: If you want to buy a piece of land in Gurgaon, check out which is the best location for you and your family, so that you reside in the vicinity of all available facilities. There are residential plots for sale in sectors 82, 83, 84, 85 developed by well-known names in the real estate market like as Vatika Group and others. Do not fall prey for inexpensive plots in the outskirts of the city.

2. Size and type of land: You should consider the built up area of the land space so that your dream house fits into that plot. Also, opt for developed lands as these have the basic facilities in the area like as public road, water supply and power supply.

3. Title Deed: Title deed of the property provides information like as name of the owner, location and other such details. It is very essential that the seller has a right over the plot to sale.

4. Exact Value of Land: Make a survey of the value of plots in Gurgaon. You might come across property dealers who charge an exorbitant rate for a land, which otherwise is much cheaper.

5. Legal Issue: The plot of land should not be associated with any legal issues. You should get the encumbrance certificate for this.

6. Layout: The layout of the plot should be approved by Gurgaon Development Corporation and the local body.

7. Documents and registration: Lastly, consult an advocate to prepare the land documents and registration papers.

Read More: http://www.vatikagroup.com/overview.aspx?hid=1&pid=33