Property investments are capital intensive and require utmost care while one decides on the right property. It is important to know the various steps, documentation, processes needed for a successful investment. With proper legal support and verification of documents, a buyer can be confident about an investment before taking the plunge.
The best commercial property for sale in Mohali, HLP Galleria, has some important points for you to keep in mind while looking for a commercial property.
This vital document contains the transfer of ownership details of the property. It specifies that the property has been sold to the purchaser. One must get this document compulsorily registered at the sub-registrar’s office. The title should be free from any disputes over ownership.
Just like the title, one should verify the identity of the builder as well. Before finalizing any deal, one should check the builder’s company, residence, nationality, and whether the builder can transfer the property or not.
Receipts of the property taxes should be checked to ensure that they are paid in full to the authorities concerned, especially if the property is being resold.
The Real Estate Regulation and Development Act (RERA), 2016 makes it compulsory for developers to register their projects with the concerned authority. Any buyer, before finalizing the deal, should verify that the property has been registered. The official portal for RERA also states any complaints filed against the developer. This helps the buyer make an informed choice.
Builders often claim superficial goals like they’ll build a shopping mall or school or modern office space. This is why it is important to see the layout plan for the said property and see whether the claims can see the light of day.
A physical survey is important for any commercial property. One has to be sure of the land and its attributes that may or may not hinder the success of the investment.
This certificate states that the property doesn’t have any outstanding legal dues. It states the background of the property and whether it has any mortgage left or a third party claim, etc. This certificate has details of all the transactions done during a given period of time and can be obtained at the sub-registrar’s office.
The developer must have copies of NOCs from the departments concerned such as the pollution board, sewage, water, electricity, environmental clearance, etc. Such documents must be procured wherever necessary.
This document specifies the sale of the property. It contains details of the property, its title, the price agreed, and the terms and conditions between the seller and buyer.
With these steps in mind, your move into commercial property investment will be a lot easier. Nevertheless, remember to have a legal expert with you at all times.
Visit the new commercial project that has merged business spaces with entertainment zones. Made by the best commercial property builders in Mohali, the HLP Group, HLP Galleria is the upcoming commercial project in Mohali that assures positive returns on investment. Get a preview at: www.hlpgalleria.com.
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