Legal Information
India Properties - Other things a buyer should be prepared for!
Here is a list of some other point that you should consider when planning a purchase of any India property. This way you can get a little scope on time frames involved in a purchase, and you know exactly where you stand when you decide to buy.

• Final Sale Deed - Your lawyer will prepare the green document, the date and place is usually blank until the process has been finalized. It takes about 7 days to complete and costs around 18,000 - 21,000 INR. Your lawyer may charge on average 1% of the property value. Make sure you discuss this with your lawyer first.

• Stamp Duty - Expect the cost to be 5% of the property value, it is to be paid at the designated bank and will be complete on the day it is paid.

• Final Sale Deed Submission to Sub-Registrar - The Reader of the Sub-Registrar of Assurances will go through the deed and check everything is in order. Signing the documents of transfer will be done in the presence of two witnesses. Your lawyer will have all the details of how this will proceed and any advice. You will need your identification, so have all the relevant documents discussed with your lawyer ready. The transfer should be complete in 1 day if there are no irregularities. The cost is 1% of the property value or a maximum of 30,000 INR and maybe 20 INR for each page of title deed documentation.

• Application to Register Land and Property as the Buyers - This usually takes around 30 days; the application is made via the Land and Survey Office, and costs 300 INR. There are a lot of process to go through here, such as presenting the signed application, indemnity bond, affidavit and the notarized and certified title deed copy. There will be a number of checks made by the office to confirm everything is in order and a Property Tax decision will be made.

Armed with all the information above you should be now able to effectively find and search out India properties, and not fall into any traps.

India properties are a great investment as stated at the beginning of this article, good luck with any purchase and make sure you get as much information as you can before deciding on any property, and yes it is okay to haggle a deal if you can.



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