All About Buying:

A= ll About Buying:

Gen= eral Our Commitment to keeping you well informed.
At www.GurgaonClick.com we do= n't think of a house as just a piece of property. We see it as your home, the c= enter of your family's life, the very special place where your children grow up, where you welcome your neighbors and friends, where your dreams come to lif= e.
We understand what a sensitive, emotionally charged process the buying or selling of a home can be. We know that it involves one of the biggest commitments a family can make. That is why GurgaonClick.com professionals a= re totally committed to providing whatever it takes to help you through the process, to keep you well informed, and to make sure you have the right ans= wers to the many questions that inevitably arise during any real estate transact= ion.

Buy= ing Tips

<= b>Research Is the Key=
Home sellers won't call you with an offer to buy a maintenance-free ho= me with a wonderful mortgage. You have to find the gems yourself! Only by reading available materials, talking to friends and experts, and spend= ing time looking at different homes, schools, and neighborhoods you will e= nd up with your DREAM HOME.
<= b>Make a Plan
Every important decision needs to be clearly thought out. Developing a home buying plan can help you focus on the important factors and organ= ize the entire process. You may even want to use a binder with sections on house hunting, home financing, service providers, etc. Loan pre-qualif= ying helps you determine the home price you can afford and presents you as a genuine prospect to the seller. A lender typically uses the 28% formula (your monthly mortgage can't exceed 28% of your monthly income) in approving your loan. Planning your actions and getting pre-qualified w= ill keep you out of the panic mode and allow you to take advantage of opportunities. A thorough plan will save both time and money!
<= b>Value
The classic rule of buying the worst house in the best neighborhood st= ill applies. If you buy with an eye towards improvement, you can customize= the home to fit your needs. The saying, "make money buying a home, not selling one," should keep you focused on the long-term importance= of the purchasing price.
<= b>Create A Top 10 List of Amenit= ies
When shopping for a home, list the features (fireplace, fenced-in yard, new appliances, etc.) that are most important to you in deciding on wh= ich home to buy. Establishing "your criteria" early on will save time shopping for inappropriate homes, your top reason for buying a ho= me should be the value you are getting.
<= b>Get A Quality Home Inspection<= /span>
Although it is hard to believe, more people pay for inspections before buying used cars than when making the biggest investment of their live= s -- their homes. Paying for a qualified home inspection before you buy a h= ome isn't just spending "a little extra" for peace of mind; it's absolutely essential for anyone who doesn't want to spend thousands of rupees for repairs.
<= b>Legal Advise
Before buying property, it is advisable to appoint a solicitor to insp= ect the original title documents of the property being purchased. If the t= itle is not clear, the number of complications arising in future may be numerous. For eg., no bank would provide a loan against a property not having a clear title, it may be difficult to transfer share certificat= e of the society in your name, selling of property will not be simple, etc.=

Buy= ing : LEGAL ISSUES

Ver= ification of the Title of the vendor

This is the most important aspect of a purchase transaction of= an immovable property and may be competently handled by a reputed lawyer/solicitor/chartered accountant etc. The verification is necessary fr= om following three angles:
i) Validity of Title: The vendor must have a clear, valid and marketable ti= tle over the immovable property which is the subject matter of transaction. This would require a close scrutiny of documents of title produced by the vendor. The document must be a registered document.
ii) Obtaining of Non-encumbrances certificate from registrar and good title from the concerning tehsildar .
iii ) acquisition of land in any scheme by the land acquisition officer.

FAQ= 's:

Q W= hich documents are to be verified before purchase of a Flat?

A: Before you purchase a flat, you have to have a title and document search conducted by a competent advocate. It is a professional job to be done with professional assistance.=

Q W= hat is the difference between built up area, super built up area, and carpet ar= ea?

A: Carpet Area: This is= the area of the apartment/building which does not include the area of the walls= .
Built up Area: This includes the area of the walls also
Super Built up Area: This includes the built up area along with the area un= der common spaces such as the lobby, lifts, stairs, etc. This term is therefore= only applicable in the case of multi-dwelling units.

Q W= hat are all the important documents one should check before buying any property= ?

A: If you want to purch= ase a property, you have to look at the approved layout plan, approved building plan, ownership documents, carryout search, etc. Contact an advocate before= you purchase a property so that he can advise you.

Q In whose name is the stamps required to be purchased?

A: The stamps are requi= red to be purchased in the name of any one of the executors to the Instrument.<= o:p>

Q W= hat is meant by the market value of the property and is Stamp Duty payable on t= he market value of the property or on consideration as stated in the agreement= ?

A: Market value means t= he price at which a property could be bought in the open market on the date of execution of such instrument. The Stamp Duty is payable on the agreement va= lue of the property or the market value which ever is higher.=

Q W= ho is the appropriate authority for knowing the market value of the property?<= /span>

A: The Sub-Registrar of= the area, in whose jurisdiction the property is located, is the appropriate authority for knowing the market value of the property or the collector of = the district.

Q W= hat exactly do we mean by a Freehold property (Plot or a Flat? What are the advantages and disadvantages, if any?

A: A freehold property (Plot or a Flat) is one where there is a whole and sole owner(s), ownership= is full and unconditional (within the provisions of the laws of the land) and there is no lessor / lessee involved.

Q H= ow to verify the authenticity of the various documents submitted by the seller= of the house, particularly with regard to the possibility that the house has n= ot been sold earlier to a third party ?

A: Regarding authentici= ty of documents, again, you have to take the help of an advocate to verify.

Q U= pon buying a flat from a builder in a building under construction, what are the permissions and papers that one should check with the builder, so as to ascertain the genunity of the builder?

A: When you are buying a flat from a builder in a building under construction, you have to check the following:

Approved plan of the building along with the number of floors. <= /span>

<= span style=3D'font-size:9.0pt;font-family:Verdana;mso-bidi-font-family:"Tim= es New Roman"'>Ensure that the floor that you are buying is approved.
<= span style=3D'font-size:9.0pt;font-family:Verdana;mso-bidi-font-family:"Tim= es New Roman"'>Check if the land on which the builder is building is his or he has undertak= en an agreement with a landlord. If so, check the title of the land owner= ship with the help of an advocate.
<= span style=3D'font-size:9.0pt;font-family:Verdana;mso-bidi-font-family:"Tim= es New Roman"'>Check the building byelaws as applicable in that area and ensure that the builder is building without any violation of front setback, side setba= cks, height, etc.
<= span style=3D'font-size:9.0pt;font-family:Verdana;mso-bidi-font-family:"Tim= es New Roman"'>Check specifications given in the agreement to sell of the sale brochure. Is= he providing the same actually on the ground or not?
<= span style=3D'font-size:9.0pt;font-family:Verdana;mso-bidi-font-family:"Tim= es New Roman"'>Check the reputation of the builder.
<= span style=3D'font-size:9.0pt;font-family:Verdana;mso-bidi-font-family:"Tim= es New Roman"'>Ensure that urban land ceiling NOC (if applicable) has been obtained or not. =
<= span style=3D'font-size:9.0pt;font-family:Verdana;mso-bidi-font-family:"Tim= es New Roman"'>NOC from water and electricity authorities also have to be obtained. =
<= span style=3D'font-size:9.0pt;font-family:Verdana;mso-bidi-font-family:"Tim= es New Roman"'>NOC from lift authorities.
<= span style=3D'font-size:9.0pt;font-family:Verdana;mso-bidi-font-family:"Tim= es New Roman"'>Mortgage free

Claim of any other ownerships
Any tax demand orders against property
Is property under any government scheme to be acquired