Process of Buying a Home in Bangalore or Any Other City in Karnataka


How to Buy Home in Karnataka

Buying a house is everybody’s dream. For many, it is a measure of success, of how far they have come, for some, it is the pure joy of owning a home that they can call their own. While we hear of people buying land or property often, we are totally oblivious to what exactly it involves until we foray into buying a home ourselves, as you may have right now.

If you are at that stage and lack information, this blog will give you the step-by-step process of buying a home in Bangalore or any other city in Karnataka, along with some of the intricacies involved in the process.

Also read: Top affordable places to live in Bangalore

Documents Needed

Title Verification

This includes the title deed of the house in question and its sales history. 

Identity Proof (Buyer and Seller)

You will need ID proofs of the buyer and the seller with their current and permanent addresses. In case the seller is an organisation, you will need their TAN number or any other related document for proof of identity.

Verification of Land Use

The buyer will need to have documents ascertaining the type of land being sold whether it is agricultural, residential, commercial, etc., and if the land has been converted, you will need to show documents which prove that it was done legally.

Construction Approvals

House plans need approvals from the local authority as well. This proves that the house has been built in accordance with the rules of the local regulatory authority and is necessary for the registration of the sale.

Seller’s Occupancy Certificate

An occupancy certificate or OC for short is a necessary document that the seller has to obtain before transferring the property. Not having an OC can cause severe problems down the line.

Tax Clearance

While there is any clearance certificate for this and is not necessary for the registration itself, you will need to take a look at pending taxes and mortgages on the house that you are buying. Having pending dues on the house can result in heavy penalties for the buyer.

No Objection Certificate (NOC)

You will need a NOC from the seller which is issued by several boards like the Pollution Board, Environment Department, Sewage Board, Traffic and Coordination Department, etc.

An Attorney

You will need to consult a lawyer or a certified expert in the real estate domain to take a look at all the land documents and verify their credibility. Once the lawyer approves of it, all you have to do is go ahead and register.

Also read: Best places to live in Bangalore for job seekers

The Legal Process of Registration

The process of registering a property was cumbersome and could only be done offline in Karnataka until 2022. Now you have the option to register the house online or offline.

Online Registration

Online registration is much faster and more efficient.

Step 1: Register Yourself

Register yourself with your personal details as a buyer at kaverionline.karnataka.gov.in and create an account by providing the required details. If you already have an account, you can just log in with your id and password.

Step 2: Register Documents

Once you are logged in, you will need to click on the document registration button and enter the necessary details like the date of execution of the sale, the number of parties involved, etc., and save all of the information.

Step 3: Details of Sales Deed and Witnesses

Have an attorney prepare a sale deed for the registration and enter the details on the website. Also, enter the details of the witnesses involved in the registration.

Step 4: Select ID Proofs

Select the type of id proof that the witnesses and all the involved parties will present during registration.

Step 5: Select Property Type

Select the type of property that you are registering. It could be agricultural, residential, commercial etc., along with the nearest Sub registrar's office.

Step 6: Calculate Stamp Duty

Fill out the required details for calculating the stamp duty in Bangalore or any other city in the state. Ensure you know the registration charges for the city as well.

Step 7: Upload Other Details

Upload other documents pertaining to the land and registration like NOCs, address proofs etc.

Step 8: Fill in Payment Details

Fill in the payment details by selecting the mode of payment and enter other details like the cheque number, banker's challan number and the challan date.

Step 9: Book an Appointment

Schedule an appointment at the nearest sub-registrar’s office and visit the office on the scheduled date and time to complete the registration.

Also read: Best places to live in Bangalore for a family

Offline Registration

The offline method for registering a new property pretty much entails the same thing except for the fact that it takes much longer and inevitably involves bribes.

For registering it offline, you will need to visit the office that presides over the locale of your property. The registration document needs to be signed by the seller and the buyer in the presence of two witnesses. You will then have to pay the registration fee and the stamp duty.

Other Intricacies of Real Estate

It's no secret that bribes are a staple of the real estate industry. Whether it is registering your property or getting the property evaluated, bribery exists at every stage.

Another aspect you will need to pay attention to is the registration value of the property versus the actual price you are paying. The registration value of the property is always less than the actual price being paid. The extra amount is usually paid in cash to the seller directly.

Conclusion

Buying a property in Karnataka entails a lot of risks. You will need to first verify the identity of the seller and the property before you put your hands on it. You will also need to know some of the secrets that rule the real estate world (behind the scenes).

This blog gives you all the information you need to buy and register your new home in the state. Hopefully, this has been helpful, and oh, Congratulations on your new home!

Planning to move to Bangalore soon? Go through this Ultimate Guide for Moving to Bangalore and make your transition smooth!


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