Faq's

Q: What investment options do I have in real estate sector?

 

On account of the emerging trends in socio-economic profile of India, the real estate sector is considered one of the prime targets for enterprising investments. The rapid change in demography is the major contributing factor. With increase in the urban populace, as more and more people prefer to stay in cities, there is a steady and guaranteed growth in land prices.

 

Land is the best form of investment in a country like India with more than 1.2 billion population. There is only a constant amount of land however the need for spaces- for accommodation and commercial ventures- are increasing day by day. Hence, the price invested in a portion of land is definitely going to multiply in numbers down the years.

 

Q: How do I benefit by investing in land as bare plots?

 

An obvious advantage is that land is maintenance free. As a building is prone to depreciation, the invested value of in a building as opposed to bare plot is bound to reduce over time. This makes the land price wholly appreciated in real estate sector.

 

Q: How do MGB Real Estates assist its potential buyers?

 

We organize visits for our buyers to see the plot they are looking forward to acquire so that they can be assured of the promises we make to them through our brochure and advertisements. The legal specifications of all the plots are approved by the Directorate of Town and Country Planning (DTCP). We understand that our customers require transparency in this aspect. Thus, we encourage them to verify the documents under trusted legal advice.

 

Q: What is the relevance of DTCP in a land acquisition?

 

The Department of Town and Country Planning is the legal advisory on any planning activity undertaken on urban/rural lands. They will look into the building rules and zoning regulations before approving the property for any institution. The regulations include features viz. 10% open space, proper drainage and electrification facility and 33 feet water bound Macadam (WBM) road.

 

Q: Concerning residential layouts, what precautions do MGB Real Estate take on the legal side?

 

Our team makes a clear cut analysis of the following aspects of a land before putting it out in the market.

  • Present owners of the property including enjoyment by people apart from title holders.
  • Pending agreements concerning property holding.
  • Court disputes, if any.
  • Legal undertakings on boundary or family disputes.
  • Land Classification to identify the amount of exposure it can enjoy in market- this determines whether a property can be put for commercial use or not.
  • Approval of the concerned local authority.

The legal documents we verify for its authenticity include

  • Sale Deed/Pass Book and physical verification of the original title deeds.
  • E.C. for a minimum of 30 years, including the mortgages/loans reflected in it.
  • Link Documents including the ones mentioned in E.C.
  • SRO Valuation and Market Value Certificate report.
  • 1B Namuna and Adangal for 13 years.
  • Ownership transfers in the family including minors’ rights on the property
  • A preliminary and final legal opinion along with the survey report from an approved surveyor.

After the land registration we will provide the following documents to our customer.

  • Original Sale Deed.
  • Copy of the Link Document and Layout.
  • Copy of the DTCP Approval and legal opinion on land.

Q: How is the maintenance of residential plots taken care of?

 

WWatch and Ward will be provided initially by MGB Real Estate at an affordable cost for a period of 5 years. The residents will have the complete freedom to form a democratic body or association to handle the same in later years.

 

Q: What is E.C and how is it acquired?

 

The Encumbrance Certificate is one of the legal evidence for the title/ownership of a land. It proves that the property in question is free from any monetary or legal liabilities. This document is procured from registration authority’s office to ensure that the ownership will come to the buyer without any associate baggage and will have a marketable title.

 

Government authorities and financial institutions hold this certificate as vitally important in a legal transaction. Usually, E.C authorization for a minimum of 13 to 30 years could be demanded from the property owner before registration.

 

You will need a ‘no encumbrance certificate’ to mortgage a property. The same could be acquired by applying to Tahsildar on a Form 22, with Rs. 2/- non-judicial stamp affixed, stating the reason and producing relevant title details.

 

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