Regarding purchase of Property in Ghaziabad, Uttar Pradesh

[Rapidanshu1731]

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Rapidanshu1731
PARTICIPANT
March 20, 2025 at 9:39 am

I am planning to buy a ready to move in flat in Ghaziabad. This flat is under the name of a private builder company. They bought it originally from the original builders of the society.

Now, I have never been involved in any property transaction. What do I need to know before I jump into it?

Do companies have aadhar card? Or just PAN card? What kind of identification documents do they have?

Please guide me.

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[Primeowl5754]

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Primeowl5754
PARTICIPANT
March 20, 2025 at 9:43 am

Hi Lawyer here. If it is already built and used and you are buying it as a second hand buyer, then check out the document trail at Sub-registrar’s office. Use a lawyer to give you a title search report alongwith CERSAI check which will tell you whether the property is free of mortgage to any lender. Dont skimp on this title search and regret later

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[Rapidanshu1731]

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Rapidanshu1731
OP
March 20, 2025 at 10:23 am

It’s already built and this company (also a builder) bought it originally from the builders of the society.

If I were to take a loan on this property (say from hdfc) will they be conducting all these searches that you mentioned?

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[Primeowl5754]

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Primeowl5754
PARTICIPANT
March 20, 2025 at 10:38 am

Ideally they should be doing it as part of their due diligence..check with them..if not get a TSR done for your personal satisfaction.

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[Rapidanshu1731]

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Rapidanshu1731
OP
March 20, 2025 at 10:47 am

Thanks man! Can a local lawyer do TSR?

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[Primeowl5754]

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Primeowl5754
PARTICIPANT
March 20, 2025 at 10:51 am

Only a local lawyer can do it. They will be able to extract the full records. Ask for fees paid for inspection, certified copy of sub Registrar records along with his final report showing nil encumbrance. Go for lawyer on panel of the bank from where you are taking loan

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[Rapidanshu1731]

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Rapidanshu1731
OP
March 20, 2025 at 1:07 pm

My bank said they will be doing a full legal check on the property after I submit the property papers copy with them for a fee.

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[Primeowl5754]

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Primeowl5754
PARTICIPANT
March 20, 2025 at 1:08 pm

That should suffice. Just make sure that ypu get to see the report.

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[Rapidanshu1731]

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Rapidanshu1731
OP
March 20, 2025 at 2:54 pm

Thank you so much

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[Cleverowl5706]

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Cleverowl5706
PARTICIPANT
March 20, 2025 at 9:59 am

Let me understand! You are buying a flat from private limited company? Please be very precise. Is it limited by shares?
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Companies limited by shares, irrespective of private or public, always have a pan card. No aadhar card.
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The directors who are selling, do they have the valid power of attorney? Is there any ongoing cases against the property or the company?
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Advice, hire a local advocate dealing in property related matters. It is not as simple as you may think. Also, there are many situations whereby during ongoing bankruptcy proceedings, the company is disposing its assets to multiple buyers.

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[Rapidanshu1731]

R

Rapidanshu1731
OP
March 20, 2025 at 10:26 am

It’s name has Pvt Ltd at the end.

Understood, no aadhar card, only PAN card

How to check if they have valid POA? How to know about pending cases?

If I were to take a loan (hdfc) will they be conducting all these enquiry?

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