Millions of Houses

India is a fast developing country where the economic growth is phenomenal. Spread over the country most places are in the phase of fast growth. Lot of industries are coming up. Govt started concentrating on infrastructure development as well. Especially Tamil Nadu and Gujarat has taken an upper hand over other states in development. They introduce various schemes for the entrepreneurs to put up their industries in the state. This drastic development seeds the desire in the minds of the people to go for own concrete houses. The market for house construction blasted like anything and the demand for low budget houses are high. It is estimated that within 3 years we need about 3.8 million houses in India and especially at Gujarat and Tamil Nadu. In Chennai the entire suburbs are taking different shape with many works going on throughout. As we all know that construction work is dependent on many other industries and all started improving. For example Pipe industry, Cement, Steel, Ceramic, Furniture etc., Good amount of employment is also involved. The government also takes initiative to reduce the housing finance and it also encourages banks to open rural branches. Many multinational financial institutions are collaborating with local institutions for funding. Every day one new real estate & construction company is propping up. Again many multinational companies started funding into Indian companies. DLF's company's 10% share is purchased by a foreign company. One sad thing about the market condition is the land prices are going up. There is no standard policy for Govt in allotting living spaces. It is all market driven and the idea of the people keeps changing. Today one area develops as residential. After some time people starts opening commercial and ultimately the entire area become commercial. People migrating from this place to another place either to avoid noise and air pollution or because of better offers. But on the whole the country looses heavily because of destruction of building and migration.

Author: Property Promoter

How to Buy a Property at Chennai

    Buying property in India is a science by itself. There is no single window system for identifying a good property. Many channels have to be checked to rule out the problems in property. When you want to buy a property look into the following things.

1. If the property is between some houses ask the local about the property, rate and any problems they have seen pertaining to the property.
   
2. Ask the locals about owner if they knew or actual owner's address according to the neighbours.
   
3. Ask the locals if they get good water, drainage facility and about water stagnation.
   
4. Once satisfied with local inspection ask for the legal papers.
   
5. As for the legal paper you should collect atleast 13 year Encumbrance Certificate(EC) , current Sale deed, parent document , patta, upto date house tax and water tax receipt.
   
6. Scrutinize all the papers with the lawyer. If possible you apply for EC separately and check.
   
7. Atleast once meet the actual owner and discuss about the property. Normally the owner son or daughter or partner will discussing about the rate. It is legally better to have one-to-one discussion with the actual owner.
   
8. Sale Deed: All the registered sale will have a document number on the second page of the sale deed. This should tally with the number in the EC. Number of pages will mentioned at the bottom of the page and should tally with the number of pages in the sale deed.
   
9. The schedule of the property should tally with the actual site which you had inspected earlier.
   
10. Patta: It is the document issued by the Revenue department confirming the ownership of the property. Though sale deed also confirms the same in Indian scenario patta is a valid document. It is issued by none lower than Deputy Tahsildar who survey the site checking the schedule, size and area of the property and gives patta. You can login to http://eservices.tn.gov.in/eservicesnew/land/chitta.html?lan=en feedin the data present in the patta and you can see the extract of your patta on the website. This support the fact that your patta is orginal.
    
11. If you any small doubt about the govt acquisition in that area you should definitely visit the revenue office and check for the same. If there are any near future they will certainly will be able to confirm the same.
    
12. If the area of the property is quite large you can also write a letter to Chennai Metropolitan Development Authority to which they respond with the letter about the acquisition proceedings if any. And also they will give you zone classification of the area.
    
13. Lawyers have certain limitations about looking into the document. They will be giving report with the given document only. As a purchaser it is your duty to check all the other common mistakes which can happen in Indian scenario. It is always better to draft your sale deed with the lawyer. By getting the draft from a document writer you may save some bugs but chance of losing your property is high.
    

    Author: Chennai property and Chennai Flat promoter

Getting Patta at Chennai, Tamil Nadu and know what is patta

Patta is the document issued by Revenue department at Tamil Nadu in the rank of Tahsildar. This document ensures that the land is owned by the patta holder i.e., the name mentioned in the patta and it is not a government land. This also record the type of land in the land registry of the Govt about the type of land, owner of the land and other statistical information required by the Govt.

Normally when the property is registered by the Purchaser in the registrar office he/she also signs the Patta name transfer document along with his/her sale deed. This is initialled by the registrar and sent to the revenue office. But this never happens by itself. The patta name transfer never happens automatically. We as a responsible purchaser should follow up with revenue office. We should approach the surveyor or the deputy Tahsildar for the obtaining the patta. We should produce all the sale deed documents and Encumbrance Certificate of the property. After verification of the sale deed the surveyor will come to the site for measurement and survey of the property. After this process he will update the govt records and issue the patta in the name of the present owner. You can verify the genuinity of patta by checking your name online at http://eservices.tn.gov.in/eservicesnew/land/chitta.html?lan=en where you input all the required data and copy of the patta can be taken as printout. We can also check the "A" register of land records about the type like Nanjai, Punjai, Residential, Industrial and Heavy industry . If there is any acquisition proceedings underway they may not issue the patta. Instead they issue a notification of acquisition to the person concerned. If it is so compensation to the guideline price only given to the customer. In special case pattas are given to govt lands according to the GO passed by the Govt. For the weaker section Govt may now and then announce free patta for 1 to 3 cent of land according to the area. This will issued according to the wait list of people concerned.

Author: Chennai Flats and Chennai Property promoters