Legal due diligence checklist for purchasing a flat in Gurgaon, India.

What points need to be check and consider while purchasing flat in Gurgaon India

 

Key components that are typically included in a legal due diligence checklist for purchasing a flat in Gurgaon, India. It's important to note that you should consult with a legal professional to tailor this checklist to your specific situation. Here's a generalized overview:

1. Title Verification:

   • Check the chain of title to ensure that the seller has a clear and marketable title.
   • Verify that the property is free from any encumbrances or third-party claims.

2. Land Use and Zoning:

   • Confirm that the property is designated for residential use.
   • Check local zoning regulations to ensure compliance with the intended use.

3. Approvals and Licenses:

   • Verify that the project has received all necessary approvals from relevant authorities.
   • Check for environmental clearances and compliance.

4. Builder's Background Check:

   • Investigate the reputation and track record of the builder/developer.
   • Verify their credentials and past performance.

5. Construction Permits and Compliance:

   • Check for valid building permits and approvals.
   • Ensure that the construction complies with local building codes and regulations.

6. Encumbrances and Liabilities:

   • Identify any existing mortgages, loans, or other financial encumbrances on the property.
   • Assess any legal liabilities associated with the property.

7. Litigation Check:

   • Search for any pending litigation or legal disputes related to the property.
   • Check if the property is subject to any court orders or judgments.

8. Mutation and Conversion:

   • Confirm that the property records have been mutated in the name of the current owner.
   • Verify if there has been any change in land use, and if so, ensure proper conversion.

9. Compliance with RERA:

   • Check if the project is registered under the Real Estate (Regulation and Development) Act, 2016.
   • Verify the details provided in the RERA registration.

10. Sale Deed and Agreement of Sale:

    • Examine the Sale Deed to ensure it is legally valid and executed properly.
    • Review the Agreement of Sale for terms and conditions.

11. Occupancy Certificate:

    • Confirm the issuance of the Occupancy Certificate for completed projects.
    • Verify that the property is fit for occupation.

12. Tax Payments:

    • Check if property taxes and other statutory dues are paid up to date.
    • Verify the GST implications on the property transaction.

13. Documentation Review:

    • Scrutinize all relevant documents, including the property card, previous deeds, and any other related documents