Do not Invest in Property before watch this 💥 | Documents Checking for purchase Property | Fraud

Adv. Girish Katara
District and Sessions Court Agra
Co.No. - 9719525250, 8006525250

Note- सलाह के लिये कुछ फीस देय होगी
500 रुपए फीस
सलाह के लिए 9719525250, 8006525250 पर WhatsApp SMS करे करके। अपनी कॉल बुक करवाएं|

नोट -: जमीन के डॉक्यूमेंट, खसरा ,खतौनी, दिखाना है एवं ऑनलाइन रजिस्ट्री, जमीन केस स्टेटस , अन्य कोई भी डॉक्यूमेंट चेक करवा सकते हैं|

In this video, our legal expert Adv Girish Katara has explained Property Fraud in Hindi. We have discussed many important documents that are necessary before buying any property and also the procedure to buy property in India. Discussed the Documents in detail like a tax receipt, mutation, conversion certificate, utility bill, possession letter, mortgage, and other important documents before buying property.

1. Title Fraud
In this type of property fraud, a scammer will forge property title documents and claim himself as the owner or power of attorney holder for the property.
Another version of title fraud is executed by fake or fly-by-night builders. The builder sells a project on land that is not owned by him.

2. Rushed Sales
Rushed sales is a technique used by real estate marketing professionals to make the investors believe that if they don’t act now they will miss on the opportunity forever.

3. Assured Returns
These days, many builders offer assured 12-15% returns per annum on the investment till the handover of property. Some, even promise assured rental returns even after the possession.

4. Inordinate Delays
This is the most common problem in under-construction properties. Sometimes delay can happen for genuine reasons for eg. shortage of labor or materials, a natural calamity, socio-political disturbances etc.

The poor investor has to bear all losses for he has to pay rent as well as interest on the home loan. There are thousands of such project delay cases going on in various courts all across the country.

5. False Promises
At the time of sales, the builder may give you an offer which you cannot refuse. For instance, in an advertisement, a builder promises a rate which is 10% below market rate, a 12% assured return, assured delivery within 3 years, a buy-back scheme and a penalty of Rs. 10 per sqft.

6. Forced Cancellation
In a rising market, the builder will try to find all types of faults with you and your payments. He will keep looking for excuses to cancel your booking so that he can sell the same unit to another investor at a higher rate.
In some cases, the builder may delay the construction and plant his own people in the market, who may offer to buy your unit in the stuck up project at a lower rate.

7. Pre-Launch Scam
In a pre-launch scheme, the builder offers few units at a discounted price till the time he receives the approval. In an ideal pre-launch project, the builder should have applied for approvals and there should be no reason for approval to be rejected.

8. Deviation from Plans & Specifications
At the time of selling, almost all builders show a beautiful sample flat and promise great amenities and specifications.

9. Selling same unit to multiple investors
In some cases, scammers sell same property to multiple investors. In other cases, the builder may sell more units than are possible in the area.

10. Encroachments
Encroachments are more common in plotted developments. Local land mafia tries to encroach land that has been lying unoccupied for a long time or where the owner stays outside the state or country.

How to avoid Property Fraud or Real Estate Scams in India?

1. Check Builder’s Track Record
It is natural for any investor to get attracted towards low pricing and lucrative schemes.

2. Understand Details
As the popular saying goes, “The devil is in the details”, while buying property you must have complete clarity on documents and transaction details.
4. Ask Questions
If you have a doubt, ask your agent or the marketing team of the builder. For eg. if the builder has obtained approval, ask for the approved layout else ask for a copy of approval application if the property is at pre-launch stage. You should not repent later for ignoring minor details.

5. Take Professional Help
In case you do not have expertise to conduct due diligence on property, you should always seek professional help from a real estate expert or a legal counsel. f.

6. Get Assurances in Writing
Builders promise moon in their advertisements and brochures. However, if you read the fine print, they will have a disclaimer saying that images, plans and amenities are indicative only.

7. Choose Bank Approved Projects
Banks perform their own due diligence before approving a project. So, by investing in a bank approved project you can reduce your risk to a great extent.

8. Seek Personal Recommendations
If you can get personal recommendations from any of your friends, family members or colleagues about their experience.

Видео Do not Invest in Property before watch this 💥 | Documents Checking for purchase Property | Fraud канала Ashiyana Vlogs