New home buyers should be careful since both the good and the bad aspects of the market are present. You cannot afford to be a victim of fraud. The simplest way to protect your property is to know the rights of the home buyer. If you are aware of your rights, you can deal with any problem. Transfers of property from one person to another are governed by government laws. The Transfer of Property Act of India regulates the sale and purchase of properties, and below are some of the rights of a home buyer.
Right to get all the details relating to the property
This is one of the biggest benefits of buying a property in Hubli as if the buyer was not careful during the buying process, there is a chance that you could find out unethical facts about the property. You have thus the right as a home buyer to obtain any information relating to the property, including layout plans and sanctioned plans. You’ll be over the moon when you plan to purchase a home and finally purchase your dream house. The problems slowly start creeping in once your initial enthusiasm subsides, so if you don’t want to end up regretting buying the property, use your buyer rights and get all the necessary documents. You should check them before making any purchase to make sure that your investment is worth it.
Right to know details about the project
It is your right to know all the details of the project, such as rainwater harvesting, electricity, sewage, and other utilities, services, and amenities, as a buyer. You can then go to the builder and ask for all of these details about the project.
Right to claim possession
You’ve made the payment and are ready to take possession of the property, but the seller has not yet transferred the ownership of the property according to the agreement. A buyer can receive compensation even if he/she made the full payment but still didn’t get the house. The seller’s registration can be cancelled or suspended under the act. The buyer will have the right to take possession of the property and the common areas once they have made the full payment, and they will have a copy of the OC when it is issued.
Right to get the property with all the features mentioned in the agreement.
A buyer has the right to receive property with all the features mentioned in the agreement. They promise you various amenities on paper, but only fulfil a handful of them, and the buyer, who is unaware of their rights, usually accepts them. A buyer must be aware of his or her rights to seek legal action if the seller has not delivered all the features as promised in the agreement. When a seller fails to fulfil their side of the agreement, a buyer can use it to the court.
Benefits of improvement
This is also a right that the buyer will have once ownership is transferred to the buyer, i.e, the full payment is made and the property now belongs to the home buyer, similar to the other benefits described in this article. A buyer has a single right to any of the benefits of improvements that contributed to the property’s value increase or fall, and after the property is sold, the property’s value increase goes to the buyer, but not the seller. So, the buyer can protect these rights in the way they are enshrined in law.
Loss of damages
For the buyer, this is more of an obligation than a right. All of the above-mentioned properties are the buyer’s property rights. The buyer only is responsible for property damages after ownership of the property has been transferred., Loss from damage or the reduction in the value of the property, are all costs of the buyer, but no longer the seller.
The aforementioned elements are the buyer’s rights, it’s critical that the buyer understands their rights and obligations so that they can comprehend their role in the sale agreement. The purchase of a house in Hubli is the most important aspect of many people’s lives. However, if you are not careful, the dream can quickly turn into a nightmare. If you wish to sue a seller who wrongs you, you must first understand your rights: before continuing, select the best real estate contractor in Hubli who is honest and has all of the appropriate paperwork from the relevant authorities. If you do not want to fall victim to one of these scams, it is critical that you are aware of your rights and obligations ahead of time.
Sewakram Realty based in Hubli is a prominent and key player in Real estate construction and contracting business. We are catering to wide range of construction services from residential buildings, commercial properties, industrial projects such as cold storage construction, warehouse building, and road constructions.
1st floor D.M. Patil Layout Opp Traffic Police Station Kusugal Road, Keshwapur, Hubballi-580023
+91 836-2282111 / +91 84318 95637