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A HOMEBUYERS GUIDE TO REAL ESTATE REGULATIONS IN ALIGARH

Owning a home is a significant milestone and investment which requires a thorough understanding of the real estate regulations. Aligarh, a culturally rich and vibrant academic city is witnessing a boom in the real estate sector.

Here is the laydown of some of the real estate regulations needed to navigate the market effectively.

Property Registration Process

Registering a property is a mandatory legal process to establish ownership. This involves:

  • Stamp Duty and Registration Fees: Homebuyers must pay stamp duty, a tax on property transactions, and registration fees. The rates may vary based on the property's value and type.
  • Documentation: Essential documents include the sale deed, property tax receipts, and identity proofs. Ensure all documents are verified and free from legal encumbrances.
  • Visit to the Sub-Registrar’s Office: The final step involves visiting the local sub-registrar's office to complete the registration process. Both the buyer and seller must be present.

Title Verification

Title verification ensures the seller has a clear and marketable title to the property. This involves:

  • Checking Encumbrance Certificates: This certificate indicates whether the property is free from legal dues or mortgages.
  • Legal Assistance: Hiring a lawyer to verify the title and review the sale deed can prevent future legal disputes.

Land Use and Zoning Regulations

Understanding the land use and zoning regulations is vital to ensure the property is used for its intended purpose.

  • Master Plan Compliance: Ensure the property complies with Aligarh's master plan, which outlines the land use for different areas (residential, commercial, industrial).
  • Zoning Laws: Zoning laws govern the type of structures that can be built in specific areas. Check if the property adheres to these regulations to avoid legal issues.

Building Approvals and Permits

Before purchasing or constructing a property, ensure all necessary approvals and permits are in place:

  • Building Plan Approval: The local municipal authority must approve the building plan, ensuring it adheres to safety and structural standards.
  • Occupancy Certificate: This certificate is issued after the construction is completed, indicating the building is ready for occupancy and complies with all regulations.
  • Environmental Clearance: For larger projects, obtaining environmental clearance is mandatory to ensure sustainable development practices.

RERA Compliance

The Real Estate (Regulation and Development) Act, 2016 (RERA) aims to protect homebuyers and ensure transparency in real estate transactions. Key points include:

  • Project Registration: All residential projects must be registered under RERA. Verify the project’s RERA registration to ensure legal compliance.
  • Promoter Obligations: RERA mandates promoters to provide detailed information about the project, including timelines, amenities, and legal clearances.
  • Grievance Redressal: RERA provides a platform for homebuyers to resolve disputes with builders and promoters efficiently.

Home Loan Regulations

If you're financing your home purchase through a loan, understand the regulations governing home loans like loan eligibility, interest rates and tenure and legal scrutiny of the property.

To conclude, it is advisable to keep all the paperwork in order and to take legal help or approach real estate consultants to avoid legal pitfalls and take informed decisions.

Consult Emirind Infrastructures Pvt Ltd for a smooth and secure home buying experience.