FAQ

Frequently Asked Questions

* Verify Ownership: Check the title deed and ownership history.
* Encumbrance Certificate (EC): Ensure the property is free from loans or legal liabilities.
* Land Records: Verify mutation records, survey details, and property boundaries.
* Seller Verification: Confirm the seller's identity and legal authority to sell.
* Approvals: Check building plan approval, Completion Certificate (CC), and Occupancy Certificate (OC), if applicable.
* RERA Registration: Verify RERA registration for under-construction projects.
*Clear Dues: Ensure all property taxes and utility bills are paid.
*Litigation Check: Confirm there are no pending legal disputes or government claims.
* Legal Opinion: Get the documents verified by a qualified property lawyer.

* Stamp Duty: Paid by the buyer to the State Government; rates vary by state.
* Registration Charges: Paid by the buyer to register the property legally.
* GST: Applicable only on under-construction properties purchased from a builder; not applicable on resale properties.
* Capital Gains Tax: Paid by the seller on the profit earned from selling the property (subject to applicable tax laws).
* TDS (Tax Deducted at Source): The buyer must deduct 1% TDS if the property's sale value is ₹50 lakh or more.
* Property Tax: Annual tax paid by the property owner to the local municipal authority after purchase.

*RERA (Real Estate Regulatory Authority): A regulatory body established under the Real Estate (Regulation and Development) Act, 2016 to regulate the real estate sector in India.
*Protects Homebuyers: Ensures transparency and accountability in real estate transactions.
*Mandatory Project Registration: Most residential and commercial projects must be registered with RERA before being marketed or sold.
*Prevents Fraud: Builders must disclose project details, approvals, timelines, and financial information.
*Timely Delivery: Holds developers accountable for project delays and provides remedies to buyers.
*Dispute Resolution: Offers a mechanism for resolving disputes between buyers and developers.
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