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Navigating the Legal Aspects of Real Estate Transactions in Chennai

Most of us believe that searching for and finalizing a new home is time-consuming, and exhausting, and will demand your commitment, efforts, and planned investment amount. However, more strenuous are the legalities and the documentation that follows. So, are we not allowed to lay back and relax a bit after finally finding our dream home from one of the best builders in Chennai?

It is important to stay well-informed of the legal formalities that ensue a real estate dealing, but you can ease up when buying plots from Elephantine, one of the top real estate companies in Chennai. They are one of the top real estate developers and builders in Chennai who offer thorough assistance in taking you through the legal documentation process and in acquiring the required documents without the need for middlemen/brokers. By a thorough property analysis, risk mitigation, and a transparent documentation process, a smooth property transaction is made possible. 

Steps in documentation when buying from real estate companies in Chennai

It is important for the prospective buyers of a villa plot in Chennai to cautiously understand and follow the documentation procedures. Read on to learn about the key documents and steps involved in the legal process of buying a home

Sale Deed: This document establishes the transfer of ownership from the seller to the buyer and includes the property details, the concerned parties, and the agreed terms and conditions.

Title Deed: It verifies the seller’s authenticity before establishing their right to sell the property. It must be free of legal disputes or errors.

Patta and Chitta: These are Property Ownership-related key revenue documents. They help validate the possession and ownership rights of sellers and buyers and mitigate potential risks while securing a new property.

Encumbrance Certificate (EC): This key document validates if the property is free of mortgages, outstanding loans, or any legal claims, for a specified period.

Approved Building Plan: The plan from the developer is an assurance to the buyer, in adhering to the regulations and guidelines of the local authorities.

Completion Certificate: To acknowledge the proper completion of a construction project by meeting the necessary standards, the concerned authority issues a completion certificate.

Occupancy Certificate: Post the completion and inspection of the construction an OC is issued for complying with the local regulations.

Duly paid Property and Water tax: Buyers must verify and ensure that the tax and bills are up-to-date and paid.

Non-Encumbrance Certificate: An NEC is an additional assurance that the property is devoid of legal encumbrances or claims (excepting those mentioned in the EC).

Power of Attorney: The buyer must thoroughly check the authenticity and validity of a property sold through a PoA.

No objection certificate: For properties of a certain nature and location the local authorities issue an NOC confirming that the property has met the necessary regulatory requirements

Elephantine has Your Back

Elephantine, being one of the best real estate developers in Chennai is committed to building sustainable projects that value the client’s time and investments. They go a step further in making the entire legal work for real estate dealings hassle-free and budget-friendly.

Elephantine begins by extensively analyzing the property portfolio and verifying it, before suggesting the best options. The legal team then validates the documents for any legal disputes or encumbrances. Finally, the required approvals are sought to ensure compliance with regulations and guidelines of urban planning.

It adopts the Aggregation technique to understand better the real estate market. All the relevant data concerning your real estate dealing such as the location size, property type, amenities, features, and portfolio of properties will be compiled and made accessible.

This aggregated data serves as a guidebook for prospective buyers and real estate professionals in saving your money and time and simplifying the data compilation process. Aggregation streamlines the heavy documentation when multiple owners are involved. Using the aggregated data Elephantine assists professionals and buyers in making well-informed decisions.

The role of a middleman is eliminated. Elephantine’s expert team makes buying of bulk acres of land from a single or multiple owners hassle-free. They will secure the documents from former owners, and verify and transfer deeds at the best possible rates.

Elephantine: Your trusted Real Estate Partner

Elephantine is lauded as one of the best builders in Chennai for its unique values and vision in delivering properties that are not only aesthetically built but also reflect the client’s dream and respect the spirit of the community. Their impressive range of services encompasses the verticals; Holiday Homes, Commercial Buildings, Thematic projects, Mongolian Yurt, Logistics and Warehousing, and Aggregation.

It is essential to know the size and intricacies of the documentation process that a real estate dealing in Chennai calls for. Elephantine makes it simpler and less tiresome using aggregation, seeking professional guidance, and complying with the regulations. With utmost transparency and legal diligence, Elephantine strives to put its customers at ease by handing them a secure investment plan on a golden platter.

Looking for a trusted real estate developer in Chennai? Look no further! Elephantine is here. To get in touch, visit us now at Elephantine Enterprises Pvt Ltd.

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