Friday, June 6, 2014

Radiant White Orchid Apartments Located at Bannerghatta Road, Bangalore 2BHK Apartments and 3BHK Apartments.


Radiant White Orchid Multistorey Apartments Area Range 1095-1885 Sq.ft, Located at Bannerghatta Road, Bangalore 2BHK Apartments and 3BHK Apartments.

http://bangalore5.com/project_details.php?id=814


Description:

Radiant White Orchid. Luxurious apartments on Bannerghatta Main Road, Bangalore.

When ordinary doesn’t measure up to your tastes, when usual doesn’t befit your stature, it’s time you graduated to a higher league.

Welcome to Radiant White Orchid. A range of apartments that’ll do justice to your status. Homes that feature the best of fixtures, highest specifications and not to mention, a good number of amenities.

Now, how long can you resist that inner craving for a premium home? Luckily, your wait is over. 

Amenities:

Gym
Steam / Sauna / Jacuzzi
Swimming Pool
Multi-purpose hall
Children’s play area
Indoor games room

Reap the Property Investment Fruits in Bangalore


After economic recovery, the days now appear to be favourable for capital investments like investment on property buying. The developers who have invested huge sums are likely to offer the developed properties to the prospective buyers, providing all possible facilities. The competition among the developers will be quite beneficial to some extent to the customers who have been waiting for investing funds in real estate.


As on today, it is said, a large number of fully developed properties are available for disposal in the property market. It seems to be true if we go through the advertisements appearing in newspapers, magazines, hoardings, TV Channels etc. relating to property market. Apart from media publicity, if one takes a stroll in the city, one would find 'to let', 'flats available on rent' etc. on newly built residential spaces, as well as on ready commercial buildings. Some developers are offering sites of various dimensions, ready villas, flats in apartment buildings all around the city outskirts, with all possible concessions. However, it is not known for certain as to how many flats and commercial units are vacant as of now as there is no agency to collect such information. But one thing seems to be true is that a large number of flats and commercial units are vacant and available for immediate occupation.


With the availability of large number of ready units both in residential and commercial segments, there is a good amount of competition, resulting in offering concessions and benefits to the prospective buyers. The benefits like club houses, swimming pools, gardens, schools, shopping complex, markets, play grounds, Tennis - Badminton courts etc., are commonly advertised by most of the property developers depending on the size of the project developed by them.


Another aspect commonly noticed is that the. property developers are now indicating the various approvals obtained from the concerned authorities. In addition the customers are helped to obtain financial assistance from various banks and financial institutions. The developers are showcasing their projects through Property Melas organised by various agencies and their own associations at regular intervals. All these actions help the buyers to choose the property for investment.


It is a known fact that of all the investment options, the best is real estate for investment for the simple reason that the property market will not go downside because the demand position is ever increasing. Also the property value always gets appreciated over a period of time. So far as residential units are concerned, there would never be any downtrend in property values. Appreciation in value is phenomenal.


Why there is no downtrend in values of properties? There may be a dull period some times in property market but that is only for a short period, when people do not come forward to buy property in view of the rising prices of construction materials, labour wages, consequently increase in the cost of the projects etc. The project cost goes up for various reasons and sometimes due to litigations. This however does not affect the property market except that there will be some delay in sale or purchase for a brief period. In such an event the prices remain static but will not go down. 


During such period developers will not sell their products below their cost price level as they cannot afford to suffer any losses. After such a brief lull they for certain know that the market will open upwards, from where it was stalled. With no supply during such lull period the demand for accommodation keep up moving upward and the market when reopens, the supply position gets a boost. The property developers naturally stand to benefit once the market resumes with upward trend.


As for buyers the present situation seems to be quite favourable as the market is showing upward trend and the developers are interested in disposing of their products with various concessions and benefits and assistance for securing financial assistance from banks and financial institutions. Investment in property whether a flat, a bungalow / villa or a site is best for a simple reason that the value will always be appreciating and the demand for such properties will always exist. However the buyer has to take care, verify all the details about the property = like it being free from litigations, the price offered and various necessary approvals etc. before finalizing the buy since buying the property is a onetime deal in life time for an average buyer.

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Thursday, June 5, 2014

Radiant Silver Oak Villas for sale Located at Bannerghatta Road, Bangalore available with 3BHK Villas.

Radiant Silver Oak Villas Area Range 2542-3880 Sq.ft, Located at Bannerghatta Road, Bangalore available with 3BHK luxury Villas.
http://bangalore5.com/project_details.php?id=810


Description:

Let the world know that you’ve arrived. Make it a point to celebrate your arrival in style.

Welcome to Radiant Silver Oak. Located close to the Bannerghatta Main Road, at Yelanahalli, this project is perfect in every sense.
It appeals to your refined tastes, for we have planned these villas on a modernistic line embellished with best of fixtures and specifications.

Internally, every villa has high ceiling and large windows ensuring that there’s lot of air and sunlight inside. 

Amenities:
Cricket Pitch
Outdoor shuttle court
Children’s Play Area
Basket Ball Post
Gym
Steam/ Sauna/ Jacuzzi
Multipurpose Hall
Indoor Games Room

Real Estate in South India is enjoying a lot of attention given the high valuation it receives on the domestic and international level. The residential and commercial properties in Bangalore and Chennai have classy designs offering amenities of international standard. The mindboggling rise in demand for properties in Bangalore and Chennai is mainly due to the enormous migration of IT professionals to the city for employment, resulting in a substantial increase in the population. Another reason for the maddening demand is investment.

All young IT professionals drawing handsome salary packages are eyeing the residential and commercial market in Bangalore or Chennai for a purchase, sometimes just for the sake of investment. Property is the safest bet after gold as far as investment is concerned. The young, energetic, profit-loving and rich IT generation is aware of the tax benefits and advantages that accompany the purchase of a property, be it residential or commercial, in the long run. The simple logic applied is, a residential flat bought today is worth double the money invested.

Increasing demand for residential flats in Bangalore or Chennai has geared many well known developers as well as the government to build more residential townships offering affordable housing options. The concept of residential flats is to utilize maximum space so that maximum number of people can be accommodated in a single building. Multi-storied residential flats in Bangalore solve the problem of space crunch. These residential flats are quite cost- effective when compared with independent houses or villas. The BBMP IBMRDA in Bangalore and CMDA in Chennai look after the planned development and try to develop enough residential areas. Multiple residential flats in Bangalore are available for both the creamy and the average sections of society. Location is an important factor that drives prices, when it comes to flats. If residential apartments are located on the fringes or outskirts of the city, the prices generally tend to be lower.

Presently the residential sector is dominating the South, West and Southwest parts of the city but the eastern part of the city is witnessing an increased residential activity as a spin-off from IT related commercial developments.
Bangalore and Chennai are the only cities in South India to see many residential developments. The residential market of Bangalore has always been the market of apartments, but lately developers have started focusing on villa and row house developments.

Presently, high-end residential developments are mainly concentrated in the CBD and in the East and South side of the city mainly comprising luxury apartments, villas etc. with the International Airport planned at the north, the city is also experiencing fresh growth towards the north.
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Wednesday, June 4, 2014

Salarpuria Melody Apartments for sale Located at Mysore Road, Bangalore available with 2BHK and 3BHK Apartments.

Salarpuria Melody Multistorey Apartments Area Range 1237-1811 Sq.ft, Located at Mysore Road, Bangalore available with 2BHK Apartments and 3BHK Apartments.
 
http://bangalore5.com/project_details.php?id=641
 
Description:
 
Step into Melody, a sweet and rhythmic tune greets you .Your home will be bounded by lush greenery, open spaces which is an over whelming feeling giving you enough space to sprawl out.

It has broad prominent pathways, giving it a picture perfect setting for you and your family. This residential enclave has 308 well crafted homes designed meticulously to meet global standards and adorned with a host of amenities.

Apartments ranging between 1265 sqft and 1800 sqft with 2 and 3 bedrooms options are now available for booking. Just located on Mysore road t is in close proximity to the proposed IT corridor, ring road, NICE corridor, renowned super specialty hospital, shopping complexes and well named schools. The area of location is increasingly becoming the destination of the future with the upcoming IT corridor, various important IT/Corporate identities and the Metro Rail hub on Mysore Road.
 
Amenities:
 
swimming pool,
club houses,
gymnasium, 
indoor game area
 

Investment in real estate should be without any risk, and should be possible to get reasonable returns and appreciation in value. Investment is made after satisfying about the land and building prices. An investor experienced in real estate market will work out the purchase price based on several considerations. Others who are not knowledgeable in these matters may pay a higher price or involve in complications.

Location:

The land located in a rural area beyond the influence area of the city will fetch a lower price than the land in the rural area within the influence area of the urban settlement. Dry agricultural land will fetch lower price than the irrigated land. In the same rural area the land facing a highway will fetch more value than the land facing a village road away from the highway. Prices are more for lands along the national highway or major district road. The reason for this is the potential it has for industrial or commercial development.

In the urban areas, land value will be more in bigger cities compared to lands in smaller urban areas.

Lands which are within the urbanisable area of the Master Plan will be costlier than the lands in the green belt / agricultural zone. Within the urbanisable area of the master plan, the lands in commercial zone will be costlier than lands in residential zone or industrial zone.

Authorised properties with approval of competent authorities like; BDA, BBMP, etc will be in demand and it is possible to get higher land value. Lands within I nearer to the central area of the city will fetch more value.

Schemes of development authorities:

Lands adjoining scheme areas of BDA I development authorities will be costlier as it is possible to extend the developed roads and utility services of the developed scheme.

Floor Area Ratio (FAR):

Lands with higher permissible FAR will be costlier as the saleable area I usable area will be more. Builders consider this aspect in proposing the lands for their project. FAR will be more for lands on wider roads and such lands will have more demand.

Central area:

Lands in the central area or nearer to the central area of the city will get more value than lands in extensions or suburbs. Activities which attract well to do public like; fashionable shopping area, modem malls, star hotels, facing golf course or major public parks, etc will get higher land value.

Nature of the locality:

Lands in localities like; M.G.Road, Levelle Road, Palace Orchard, High Grounds, etc will have higher land value compared to lands in localities with lower income groups.

Quality of development:

Lands I buildings in projects of reputed developers I builders will get higher rates due to the quality of construction, facilities provided, landscaping, the type of people occupying the buildings, etc. Properties nearer to popular convents, and good civic amenities like park, play ground, etc, will have more demand with higher value.

Commercial complexes: 

In case of commercial complexes, the units facing the road will have more demand and value compared to the units inside.
Ground floor units will have more demand than the upper floor units. Examples of this aspect are the Barton Center, Public Utility Building, West Minister (on Cunningham Road), etc. 

Parking: 

Reserved parking available in office units in commercial complexes, and flats in apartments will have more demand than those without reserved parking. It is worth to buy a unit with reserved parking even if extra money is charged for the parking space as the vehicles are safe and cleaner in the reserved parking. 

Facilities in the building complex: 

Higher value is possible in tall buildings with availability of bore well in view of shortage of BWSSB water, and diesel generator to use lift and general lighting during power cuts in summer months, and other facilities for playing, club house, etc. 

Guidance value: 

For registration of properties before introduction of Guidance Value by Government, the stamp value fixed was on the basis of discretion by the Sub-Registrar. This discretion power was misused and corruption was rampant for undervaluing property. There was also a procedure for appeal to the deputy registrar on the value fixed by the sub-registrar, which power was again misused for reasons known. Government used to lose lot of revenue by undervaluation of properties by the property owners in collusion with the officials of the registering authorities. 

It was a good proposal of Government in fixing the guidance values for both lands and buildings avoiding the discretion power of registering authorities and under valuation by property owners. Another advantage of the guidance value was arriving at the property tax in the Self- Assessment Scheme of the BBMP / local body on the basis of guidance values fixed for various areas of the city. 

Guidance value is also useful in Akrama -Sakrarna Scheme for fixing the fine amount for regularizing unauthorized sites and buildings, and violations from building sanctions. This scheme was withdrawn after agitations from the residents welfare organizations and law abiding citizens against the scheme, and agitations also by property owners involved to reduce the fine amounts which were heavy. There is also a case pending in the High Court against the scheme. The bill sent by the Government was returned twice by the Governor. The first time it was returned stating that the scheme will encourage unauthorized developments and building violations. 

The observation second time was to submit the bill only after disposal of the case pending in the High Court. BBMP / BDA which are responsible for allowing unauthorized constructions and building violations are keen to introduce the scheme to get huge amounts as fine for regularization. Periodical revision of Guidance Value may be done once in two years to update the values according to the increase in market values, latest trend in potential for development, etc., and to get more revenue. The aspects mentioned in this article may be considered while revising the Guidance Value. As far as possible, there should be no element of discretion by the officials of the registering authorities to avoid corruption and under valuation. The details of Guidance Value should be clear to the investor to plan the investment. The procedure for appeal should be simple and quick. 

Hope the Revised Guidance Value will be clear and simple, the values are almost equal to the market values, and useful to the investors in real estate.
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Tuesday, June 3, 2014

Samruddhi Sunshine Apartments for sale Located off Sarjapur Road, Bangalore 3BHK Apartments.

Samruddhi Sunshine Multistorey Apartments Area Range 1400-1530 Sq.ft Located off Sarjapur Road, Bangalore 3BHK Apartments.

http://bangalore5.com/project_details.php?id=623

Description:

Presenting aesthetically designed 3 bedroom apartments that give you access to conveniences of a privileged lifestyle. Located just off Sarjapur Road, it’s close to the Wipro Corporate Office, premier International Schools, Hospitals, Shopping Malls, Banks. And in the midst of the most serene ecosystem. Each floor has been carefully planned to accommodate not more than 4 units to make room for large common spaces, fresh air and sunshine.

There’s more! Each apartment, a large space of 1400sft.- 1570sft. comes with select fixtures and fittings to go with its architectural theme. Prized reasonably, these apartments are a wise-buy for anyone looking to invest in a privileged future.


Amenities

Samruddhi Sunshine as the name suggests, is sure to add loads of sunshine to your life. Leave your kids in the safety of the play area while you dive into the deep blue waters of a pool, step into the gym for a quick workout, or play a game of snooker with friends and family. With a host of awesome amenities right in your campus, you’ll never experience a dull moment here.
 
Our Amenities at Sunshine includes:

Club House
Gym
Indoor Games
Children’s Play Area
Administration Office
Swimming Pool with Kids Pool
Extensive Landscape

 

Valid Transfer of Property Rights by a Seller

Marketability of Title is the condition precedent for sale of any immovable property. Under Section 55(1) (a) of the Transfer of Property Act, the seller is bound to disclose any material defect in the property or title and to produce all the documents of title to answer the requisitions on title made by the purchaser. Under Section 55(2) of the aforesaid Act, the Vendor is deemed to warranty the title or the right to sell.

Marketable Title: 

The statutory covenant of title is implied in every contract for sale of an immovable property, even if there is no express clause embodying such a warranty. The term "Marketable Title" refers to absolute right, title, interest and ownership of the Vendor to convey the property without any hindrance.

In other words, the title is considered to be marketable if the same is free from encumbrances, claims and beyond reasonable doubts. Thus, if there is any encumbrance or claims and the vendor does not discharge it, the title cannot be said to be marketable. 

In fact, Section 55 (1) of the Transfer of Property Act envisages that if the property is sold subject to any encumbrances or claims, it should be so clearly stated and the Vendor will be under obligation to discharge any such encumbrances existing at the time of sale on the property. 

On the other hand, if any encumbrance is found to exist and the same is not revealed before completion of sale, then the Vendor is bound to pay for the same or indemnify the purchaser in that behalf. 

The primary duty lies on the person intending to sell the property to prove that title of the property is free from any defects and any subsequent transfer will not make such transaction either void or voidable.

F or example, if the vendor owns a property as Kartha of the Joint Hindu Family in which minor's rights and interests are involved, the Kartha is bound to prove the legal necessity for sale or to obtain an order from the competent Court seeking permission to the property on behalf of the rumors.

Restrictions on title: 

Implied warranty of title on the part of the Vendor, although absolute, will not however apply to cases where there is a clear contract between the parties to the contrary. 

Such a contract can be either express or implied, but the contract must be such as would clearly negate the warranty of title. 

Thus, certain restrictions are imposed on the purchaser's right to examine the title in full, which is done when the Vendor is not sure of making out a marketable title, particularly when the Vendor is not in possession of the property. 

Though, the restrictions may be contrary to the provisions under Section 55 of the Transfer of Property Act, the same will be binding on both the parties by virtue of mutual agreement and understandings and even if defect in the title is found subsequently, objections in this regard cannot be raised due to such restrictions.

Where the Vendor stipulated that the property would be conveyed as he has received the same from his predecessor or that the title of the Vendor has to be accepted without dispute or that it should not be enquired into and the Purchaser is bound to accept the title of the Vendor as it appears to be, such a stipulation would be contrary to the contract and Section 55(1) (c) and (2) of the Transfer of property Act will not apply. Further, such a condition will not relieve the Vendor from the obligation of making out the best title though the purchaser would be bound by such condition even if the title is proved to be defective. 

However, in absence of such a contract to the contrary, the Vendor is bound to remove all the defects even if the purchaser was aware of the same. Again an express covenant does not, in clear and unambiguous terms supersede the implied covenant. 

Thus, by virtue of Section 55(2) of the Transfer of Property Act, the purchaser can rest his claim on the implied covenant of title contained therein.
Conditions restricting the title or proof of title to which the purchaser is entitled must neither state nor suggest things which, to the Vendor's knowledge, are incorrect.

The condition will not be binding if it requires the purchaser to assume that what the vendor knows to be false or it affirms that the state of title is not accurately known to the vendor when, in fact, it is known.

Production and Scrutiny: 

In order to examine the title of the Vendor, the purchaser has to examine all the relevant title deeds in the possession or power of the Vendor. Under Section 55(1) (b) of Transfer of Property Act, the Vendor is under an obligation to produce not only those documents in his possession but also in his power to produce. 

Thus, if the Vendor has deposited the title deeds with a mortgagee, the Vendor has to produce such documents for inspection of the purchaser through mortgagee. However the Vendor is not under an obligation to produce irrelevant documents not in his possession or power but it is the discretion of the purchaser to inspect the same at his own cost. It is only after production of all the relevant title deeds, assistance of advocates having sufficient experience in the scrutiny of the title documents will help the purchaser to conclude whether the Vendor has got marketable title or not. 

When the property market is favorable to the Vendor, the Vendor, many times, dictates the terms and tries to foist a title on the purchaser.

Adhere to the norms: 

Under any contract of transfer, fundamental principles of Transfer of Property Act must be strictly adhered by the parties, without letting out either of the parties to escape from their respective obligations, which will reduce litigations and ensure transfer of marketable title from the vendor to the purchaser, free from encumbrances, liens, claims, etc. When a faulty title is passed on to the purchaser, it is bound to result in the spate of claims and litigations. 

Purchasing the property involves various steps such as scrutiny of title deeds, verification of documents, executing the deed of Agreement to sell, making payment as agreed between the Vendor and the Purchaser and transfer of ownership and title deeds in the name of the Purchaser by executing Sale Deed.
It is not advisable to purchase a property hastily by approaching the brokers and subsequently entangling oneself into litigations in case of any defective title. Ownership and right over the property has to be passed on in compliance of the provisions as envisaged under law for which services of Advocates having sufficient experience and knowledge in property transactions is necessary to avoid litigations that are likely to arise in future.


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Monday, June 2, 2014

Saket Callipolis Apartments for sale Located at Sarjapur Road, Bangalore available with 3BHK Apartments.

Saket Callipolis Multistorey Apartments Area Range 1719-2267 Sq.ft, Located at Sarjapur Road, Bangalore available with 3BHK Apartments.

http://bangalore5.com/project_details.php?id=610


Description:
 
Saket callipolis is an exceptional home with an exceptional address covering an extent of 2 Acres and 23 Guntas situated right opposite to the Wipro Campus on the Sarjapur Main Road, Bengaluru. Saket Callipolis occupies a coveted niche in a neighborhood that hosts some of the biggest names in the technology, finance and corporate words.

The hub of contemporary Bangalore and the gleaming new vision of the city, with vast IT parks, malls and hotels, Sarjapur is enveloped by tremendous potential and exciting possibilities for prosperity neighborhood is compellingly placed, reaching right across to Electronic city on one side and Whitefield on the other. Koramangala is just a short drive away and the ORR allows easy connectivity to the International Airport and strategic points across the city.

Living at Saket Callipolis means home, Work Convenience shopping and recreational needs can happily co-exist. Walk or cycle to work, and given that you are in a neighborhood that hosts virtually everything you need from educational institutions, malls, multiplexes, healthcare to dining options ,You can rest assured of enjoying more with your family.
An Active Lifestyle.

An Indulgent Escape

Saket Callipolis is more than a mere cluster of apartment, it’s a life style habitat for the sophisticated. There is enough to energies you or let you soak up the leisure at the club house spread across the carefully manicured landscape the indulgent, exquisitely appointed haven of relaxation with luxurious activities is designed keeping in mind the everyday stresses of urban living
 
Amenities:
 
Swimming Pool and Toddler Pool
Fully Equipped Cardio and Weight Gymnasium
Multi Purpose Hall With Pantry
Squash
TV/Home Theatre Room
Barbeque
Sun Deck
Billiards
Table Tennis
Chess and Carrom
Foose Ball
Cards Table and Board Games
 
 
After Purchase of Property What Next ?

The activities to be undertaken by the purchaser of immovable property can be broadly classified into: Pre-registration and Post-registration activities.

Pre-registration requirements:

Pre-registration activities involve identifying the location of the property, ascertaining the valid and marketable title of the Vendor, Legal scrutiny report, Mode of payment, Sale Agreement, etc. Before registration of the sale deed, it is very important to verify all the relevant documents in original, in order to rule out subsistence of any kind of bank mortgages or encumbrances.

As the purchase of a property involves investment running into lakhs of rupees, availing the services of an Advocate having sufficient experience in property transactions would immensely help the intending purchaser in protecting his right, title and interest in the property.

Post-registration requirements:

Post registration activities are the steps to be undertaken by the purchaser after registration of the sale deed. There are certain requirements to be fulfilled in order to get valid title and to exercise ownership over the immovable property by the Purchaser. The following are the essential activities required to be carried out by the purchaser:

1. To obtain Original Documents: The first and foremost activity to be performed by the purchaser is to obtain original documents of title from the seller and compare them with the xerox copies, which the purchaser’s advocate would have scrutinized. If the advocate calls for other original documents or certified copies, ensure production of the same. It is always advisable to apply for certified copies of the sale deed.

2. Encumbrance Certificates: It is also necessary to register the application for updated encumbrance certificate in the Sub-Registrar office on the day of registration itself, which shall be from the date of entering into an agreement to the date of execution of sale deed.

3. Possession of property: Physical Possession of the property is of vital importance. It is advisable to inspect the property a day ahead of registration to make sure that the property is as per the sale agreement. One of the clauses to be incorporated in the sale agreement is that the Vendor shall hand over vacant possession of the property and the purchaser shall receive all the keys of the property at the time of registration. If need be, one may change the main door lock itself.

In case of vacant sites, it is necessary to put up a display board with the wordings “This property is owned by………….. Trespassers will be prosecuted”. Fencing of sites or putting up compound walls, though expensive, is preferable. Periodical visits to the site are a must to detect any kind of encroachment.

4.    Transfer of Khatha and Khatha Extract of the property: After registration of the sale deed, the purchaser must ensure that the Khatha in the records of the local bodies like Gram Panchayath, CMC or the City Corporation is transferred in his name. For such transfer, it is necessary that both the buyer and the seller have to sign the application for transfer of Khatha, which is done simultaneously while signing the sale deed. This is necessary to avoid unnecessary disputes and complications in future.

Duly filled Khatha transfer applications have to be presented before the concerned office, along with a copy of the sale deed and receive necessary acknowledgement.

At the time of execution of sale deed, the Vendor has to sign the following documents:

-> Khatha transfer application,

-> Letter for transfer in favour of the purchaser of Statutory deposits for electricity meter, 

-> Letter for transfer in favour of the purchaser of Statutory deposits for water, sanitary connection, 

-> In case of second hand sale of apartment, letter for transfer of Apartment Membership and Corpus fund has to be obtained by the purchaser from the seller.

The following is the procedure involved for transfer of Khatha:

-> To present an application in the prescribed form in the office of the City/Town Municipality or Corporation having jurisdiction along with the supporting affidavit giving all particulars required in the application. In the affidavit, it is necessary to declare that you are the present owner.

-> To enclose certified copy of the sale deed with the latest tax paid receipt of the property.

-> To furnish Khatha Certificate in the name of your Vendor.

-> The sketch showing the locality giving particulars of the ward or zone, name of the street, etc and deposit the fee fixed.

Local bodies transfer Khatha in the name of the Purchaser after collecting a transfer fee, which is generally 2% of stamp duty paid on the sale deed and issue written confirmation of transfer in the name of the purchaser. While transferring the Khatha, local bodies, re-assess the property and issue assessment notice in the name of the Purchaser. Further, tax paid receipt should be in the name of the new owner.

For the properties coming within the jurisdiction of BMP, Computerized Khatha Certificate and Khatha Extract will be issued. Khatha Certificate is an authenticated document to prove the ownership and possession of a particular person over the immovable property. While Khatha Extract reflects the actual sital area and built up area, if the building is existing. Further, property tax required to be paid will also be reflected in the Khatha Extract, which will be arrived at after reassessment.

5. Building License and Plan: If you are intending to make material alterations or proposing to construct a new building on the property acquired by you, it is necessary for you to get the license and plan approved the local bodies within whose jurisdiction your property falls. This can be obtained only after depositing the prescribed fees. In order to get the License with approved plan from the authorities, the Khatha of the property must stand in your name in the revenue records of the concerned local body and up-to-date taxes ought to have been paid. The normal procedure for securing License with approved building plan is to obtain 10 sets of blue prints of plans from licensed architect/building engineer.

Construction has to be commenced after the license is obtained and should be completed within 2 years from the date of obtaining the license and approved plan, which will be stipulated in the Plan itself. However, you can get an extension if the construction could not be completed within the stipulated period. Once the construction of the new building is finished, you must get such a house/building assessed afresh and pay taxes as determined by the concerned revenue authorities.

6. Power connection: After Khatha is transferred in the name of the present owner, the present owner has to ensure as to whether the statutory payments/deposits in respect of the property including the electricity charges are paid within the stipulated time. If fresh or new electricity connection is to be obtained, it is essential to enlist the services of the Licensed Contractor. The amount of deposit to be made depends upon the requisitioned load or number of kilowatts required. In case the property is already serviced with electricity, an application has to be presented by the Purchaser in the prescribed form before BESCOM or other competent authorities having jurisdiction, enclosing an affidavit declaring that you are the present owner and by filling up the particulars required in the application along with the consent letter of the previous owner for such transfer. Subsequently, the electricity meter will be transferred in the name of the Present Owner.

7. Water and Sewage connection: The purchaser should also verify the statutory payments/deposits made by the previous owner and collect such deposit receipts from the seller. For fresh connections, it is desirable to enlist the services of a qualified plumber. In case your property already has water connections, then same procedure as required for change of power connection has to be followed. However, the documents are to be presented before the concerned authority.

9. Corpus Fund and Club Membership: If the purchaser is intending to purchase an apartment, it is also necessary that the vendor has to issue a letter for transfer of corpus fund and club membership in the name of the purchaser.
10. Bank Loan:In case the purchaser wants to avail bank loan then the purchaser is required to deposit all the relevant title documents in original with the Bank and obtain endorsement to that effect from the concerned Bank. However, it is advisable to keep zerox copies of such documents intended to the deposited in the Bank for personal records.

Thus, mere execution of the sale deed does not automatically confer the title in favour of the purchaser. A person can enjoy legal and peaceful possession and enjoyment of the property only after the post-registration activities are completed.   
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