How to check legitimacy of a property
could you please advise as to how should i check whether a propeerty is legal or not? specially the places where there is no governing body like CIDCO to ensure the legitimacy (like Palghar), i am told by the builder that it is a Collector approved project and as there is no CIDCO thats why it is the only thing that works.
is it correct and how should i check?
Asked 2 years ago in Property Law from Mumbai, Maharashtra
ask builder to show approvals given by collector .check whether title is clear and marketable . whether project is pre approved for loans by any financial institution . contact a local lawyer in palghar .
Engage a lawyer to carry out the due diligence test. The due diligence test has to pass through many stages such as finding out whether a dispute is pending in any court of law with respect to the property to be purchased, whether the construction is in accordance with master plan, whether the requisite permissions have been obtained,and many more.
If you involve a lawyer at the initial stage you can save a lot of money and time which will be consumed later on should a litigation ensue in respect of this property.