Taxation : Knowledge of Income Tax Rules such as interest and tax deductions, reinvestment of house property and taxation involved, taxable limits of property ownership is essential. Stamp duty is a very important consideration since it forms a significant percentage of the purchase value. Many vendors try to minimize stamp duty by undervaluing the property. In such cases, consult an advocate to avoid legal issues in the future.
Registration : Registering your home ensures a secured and safe future. A document should be registered within four months of the date of its execution along with the ‘Sale Deed’ and optionally, the ‘Agreement to Sell.’ Once done, the buyer’s name is entered in the encumbrance records. Mere registration does not confer a title. It is the responsibility of the purchaser to take all precautions and to ensure that the seller possesses a valid title.