Before you make that investment in a real estate property in Kolkata, go through the 3 facts discussed in this article.

Kolkata attracts many to invest in real estate,
thanks to its lesser cost of living as compared to the other metro
cities in India. Homeowners and builders are becoming more and more
interested to buy or build properties in this city. Below are three
facts described in detail for investors. These facts will also help
those who want to sale their existing properties in Kolkata.

Fact 1

Before you prepare any document, check out whether the seller has
sufficient documents to furnish before the magistrate for authentication
and identification. These documents include: Voter’s ID card, ration
card, PAN card and tax receipts from the relevant municipality or other
authorities (if any), sanctioned plan of the property and affidavits.

If the property is situated on a converted land, the certificate of
conversion will have to be submitted. If it is located on a government
land, a title deed issued by the real estate agencywould be required. In
absence of this deed, a certificate of possession or a document of sale
or even an order of allotment will have to be furnished.

Make
sure the registration form you buy, is appropriate for the purpose for
which you need the real estate property in Kolkata. There are different
forms for purchase, rent and lease of real estate. Consult an
experienced lawyer to know more.

Fact 2

Generally, 1% of the agreed total price is paid, depending on the real
estate agency and the rest 9% are paid as ‘option fee’ for a contract of
sale. The contract must be checked thoroughly to find out whether the
sum specified in the deed matches the amount agreed upon. Before
proceeding with legal operations, installment methods need to be
finalized.

Fact 3

You must obtain the
certificate of title, abbreviated as ‘CT’. This certificate is simply
given to the lawyer of the buyer once all the necessary documents have
been submitted and the buyer has accepted his/her purchase options. If
there is a home loan that the buyer has applied for, a statement of
completion is also submitted to the relevant bank from which the loan
has been applied for.

When you have understood these facts, you
need to make sure that the property you are going to invest in gives you
some sort of ROI (return on investment). Make certain that facilities
like railway station, airport, bus depot, hospital, school, college,
court and market are close by. This would help you sell the property
easily and at a handsome price.

Do not make the mistake of
buying a property just because it looks good. If you are here to make
profits, you need to think from a business point of view and keep the
aforementioned facilities in mind. Most people prefer to live in an area
where such facilities are nearby so that life becomes smoother for
them. Keep that in mind and you will not have a problem choosing a real
estate property in Kolkata.