Things to note before buying a plot
of land:
Buying a
plot of land is a dream come true. You
now own something really valuable which you can call your own.
It is a comfortable feeling to know
that you stand on your own ground. Land is about the only thing that can't fly
away.
- Anthony Trollope
- Anthony Trollope
You need to
be careful while buying a plot of land as you can be easily cheated. Make a
checklist of what you need to do before making that all essential purchase.
The title deed:
The title deed of the plot of land needs to be clear and
marketable. The title deed (proving ownership of the land) needs to be in the
hands of the seller of the plot of land.
You can trace the ownership of the land using the title deed.
Who the previous owners were? The change in ownership of the land (as it is
transferred between owners as a gift , sale or an inheritance).
Always examine the original title deed of the land.
Sale deed:
A sale deed of the
plot of land gives the seller the right to sell. It transfers the ownership of the
plot of land from the seller to you.
Make sure that the seller of the plot of land has the sale
deed (The right to sell the land to you).
DC Conversion:
You have to make sure that your plot of land has been
converted from Agricultural land to Non Agricultural land. This is also known
as the land use conversion (DC Converted land).
Only a DC (Deputy Commissioner) can convert the agricultural
land to a non agricultural land and this land is called DC converted land.If your plot of land is not DC converted then you will not be
able to get an A Khata certificate for it .It has a B Khata certificate.
The Khata:
The word Khata
means “account”. Khata helps you find out the details of the property from the
Municipal registrar. It means the owner of the land is paying his property tax.
You have A Khata properties and B Khata properties.
A Khata
properties come under the BBMP (Bruhat Bengaluru Mahanagara Palike) jurisdiction
and signify a legally developed land with valid sanctions and approvals.
B Khata properties are within municipal limits (BBMP) or
outside municipal limits without valid licenses and sanctions.
The B Khata does not actually exist. It is merely a record
maintained by the BBMP in a B Register. Your record in the B Khata does not
give you ownership of the property but merely states that you are paying your
property/land tax.
You can convert B Khata to A Khata by paying a penalty to the
Government.
You need to make sure that the plot of land you purchase has
an A Khata certificate to avoid any hassles.
Encumbrance
certificate:
You need to check if the plot of land has an encumbrance
certificate. The land you buy may have been mortgaged as a security (debt) to a
bank or a third party.The seller may have mortgaged this land as a collateral for a
loan.
The encumbrance certificate states that the land is free from any
mortgages debts or legal problems (litigation).Remember to check for these documents while making the
purchase of a plot of land.
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