Emotions may be running high while you're buying a home but in the midst of enthusiasm, careful research is essential. One of the most important processes in a real estate transaction is a property registry check for buyers. Whether you're investing in a flat in a high-rise building or a plotted development checking the registry status verifies that the property you're investing in is legally valid and not hiding any liabilities.
At Grrow Property Management, we believe in the significance of legal clarity prior to signing on the dotted line. Let us discuss why a verification of the registry status of the property is important, how to perform it and what legislations like RERA imply for buyers particularly in a booming real estate market such as Gurugram.
Why registry verification is important for buyers
A homebuyer registry check guarantees that the house you plan to purchase is lawfully owned by the seller and free of encumbrances, disputes or fictitious claims.It simply guarantees that the transfer of ownership is lawful and safe.
Most important reasons why registry checks are important-
• Proof of legal ownership: The registered sale deed is the sole lawful document that establishes ownership in the law's eyes.
• Fraud prevention: Checking documents avoids the purchase of a property owned by someone with no authority to sell it.
• Clear property legal status: Ensures that the property does not have any litigation, pending loans or other complications pending.
• Bank & loan sanctioning: Banks want authenticated property papers before sanctioning home loans.
• Resale and inheritance: A legally registered property facilitates an easy future sale or inheritance.
In places such as Gurugram, where the ownership of land usually transfers many times and the pace of growth is high, verifying registry becomes increasingly important.
Common Legal Loopholes in Unregistered Properties
Buying a property without checking if it is registered can be a legal nightmare. It is a common mistake, unfortunately, that many buyers don't undertake this process and regret later.
There are some common legal loopholes-
• False claims of ownership: Unscrupulous sellers can create fake or stale documents.
• Multiple claims over one property: In inherited or joint family properties there may be outstanding disputes of ownership.
• Properties undergoing litigation: The property can be the subject matter of a case that has not been disclosed by the seller.
• Mortgage or loans outstanding: In case the property remains under mortgage and unpaid, the buyer may have to incur the expense.
• Un-authorized constructions: Houses built with unauthorized approvals may be brought down or entail heavy penalties.
Skipping a property registry check for homebuyers typically leads to these regrettable scenarios. And that's why we at Grrow Property Management always recommend careful verification before any commitment.
Step-by-Step Guide to Checking Property Registry
A practical step-by-step guide to perform a property registry check in Gurugram or any other place in India is as follows:
1. Obtain the title deed
Ask the seller to give a copy of the title deed(registered sale deed). Check:
• It is in the name of the seller.
• The document is properly registered with the local Sub-Registrar of Assurances.
• Boundaries and rights in the property are well-defined.
2. Verify the encumbrance certificate(EC)
This paper shows whether there are any financial or legal charges on the property (e.g. mortgage, outstanding loans).
• Obtain EC from the office of the Sub-Registrar.
• Apply for it for at least 13 years (or 30 years as needed).
3. Verify through the state land records portal
In Haryana, land records(including Gurugram) can be verified via the Jamabandi portal: https://jamabandi.nic.in/
• Check using khewat/khasra number, owner name or property ID.
• Verify match with seller documents.
4. Physical verification
Visit the property site and confirm the layout, size and address mentioned in documents with what is on the ground.
5. Check mutation records
Mutation refers to the process of recording government land records in the name of the buyer after purchase. Verify if earlier mutation steps by the seller have been executed.
6. Engage a legal advisor
Employ a property lawyer or legal advisor to verify:
• Gurugram property records
• Ownership history
• Chain of title deeds(especailly for resale properties)
We at Grrow Property Management provide legal due diligence assistance to assist buyers in this verification process securely.
Role of RERA in property verification
Introduction of the Real Estate Regulatory Authority(RERA) has brought much-needed transparency and accountability to the real estate sector.
RERA compliance is good for homebuyers because:
• Compulsory registration : Developers have to register their residential/commercial projects with RERA before advertising or selling.
• Documents publicized : RERA mandates that all project-related documents be uploaded so that they are accessible to the general public.
• Timely safety : Consumers are safeguarded against developers delaying possession for unreasonably long periods beyond timelines guaranteed.
• Relief through the law : RERA provides direct recourse to consumers to approach the court of law against errant developers.
•Progress updates on projects : RERA rules require regular updates on the progress of the projects.
For Gurugram properties one can verify RERA registration and project status on the Haryana RERA portal- https://haryanarera.gov.in/
Conclusion
Carrying out a homebuyer property registry check is not something to do lightly it is very essential. Legal documentation of documents makes your investment secure and guarantees that the property you're buying is free of disputes, encumbrances and regulatory defaults.
We offer clients at Grrow Property Management:
• Registry checks
• Legal status reports of the property
• RERA compliance checks
• Complete legal and document facilitation for Gurugram property documents and deals
Don't get taken in by glossy brochures or slick deals invest wisely, lawfully and safely.