Top 10 Things To Check Before Buying Property In Kerala

With a greater infrastructural, economical, and socio-cultural development happening in Kerala since the past decade, a major section of people is choosing Kerala as a long-term investment and residency destination. 

Places like Kochi, Calicut, Thrissur, and Trivandrum are the most preferred locations for property purchases these days. With the real estate market expanding at an exponential rate, many property developers have come to the scene. Flats and villa projects are majorly being delivered by property developers in Kerala. Of late, villas have become the most preferred choice.

If you are planning to buy a villa property in Kerala, here are ten important legal and non-legal matters to carefully consider before choosing your dream home!

1. Structure

A thorough check on the materials, products, and finishes used for the construction of the interiors and exteriors by the builder for your property, is very essential. If such a check is avoided, you may end up having to spend a lot of money on repair works, etc. 

2. Connectivity

A property with good connectivity should be an important factor when considering buying a property. Distance from the nearest town or main city, distance to amenities like hospitals, medical stores, hospitals, supermarkets, etc, should be carefully considered. 

3. Leakages

Before choosing a property, you need to make sure that there are no leaks present in the property. It is better not to proceed with the property if major leaks are found. If in case there are only minor issues, seek the help of the builders or consult with an experienced plumber.

4. Security

24/7 quality security service should be provided at the property and a check for the presence of CCTV & other surveillance systems in and around the property should be done by you. The security aspect also extends to the trustworthiness of the builder. The documents of the flat, etc should be carefully studied and evaluated.

5. Electric System

Before purchasing your dream villa project, make sure all the electrical connections and plug points are working properly and in order. Short circuits are very serious concerns. If you do find any issues before moving in, negotiate with the builder and get your issues resolved. 

6. Title Deed

It's very necessary to make sure that the property has not been mortgaged or sold and that the seller is the rightful owner of the property. Always, the title deed should be thoroughly checked and made sure that the information provided is very clear. It would be ideal to take the services of an experienced lawyer to have a detailed check and verification of the documents related to the property.

7. Release and Encumbrance Certificate

If you are intending to purchase a property that is on resale, then you need to check whether the property is mortgaged with a bank. If the property was previously pledged, then you need to make sure that the loan is closed and the release certificate is obtained.

Get the Encumbrance certificate so that you can make sure that there are no legal issues related to the property.

8. Acquiring a Legal Title Report

You need to bring a lawyer on board once everything is finalized between you and the builder or seller. The lawyer will help you acquire a legal title report of your property. Based on all the general and relevant information accumulated, a legal title report is made. A time period of 3-5 working days is needed for the preparation. A title report is one of the most important documents required for the registration process.

9. Property Agreement

The property agreement is a legally written contract between the buyer and the seller or builder. It is signed in front of witnesses. The terms and conditions included in the agreement involve property value, property extension, possession, etc. Therefore, it's essential to carefully go through the agreement and if needed seek legal guidance to make sure the agreement is fair to you.

10. Fair Value

It is best to enquire about the ‘fair value’ of the property before its purchase. ‘Fair value’ is the value of a property set by the government. Knowing about it well in advance can put you in a better position for price negotiation with the builder or seller.

Builders in Kochi are among the best in Kerala for premium and luxury villas projects.

Luxury villa projects in Kochi have contributed to major sales in the overall real estate market in Kerala. And also, in Kochi, villas in Kakkanad offer the best long-term investment benefits compared to any other location in Kerala.