How To Buy Agricultural Land In India!

Following are the different steps involved :

 

  • Property Search : under this step you will find the land that you want to buy, you can get in touch with a broker who will arrange an agricultural land for you to buy or find through online property portals.

 

  • Physical Visit : after finding the land that you intend to buy you will need to pay a physical visit to the site to check that the land is free from encroachment, it is a clear piece of land or not. There shouldn’t be any electrical pole on it, which may reduce the value of the land.

 

  • Background Check or Due Diligence: it is further divided into the following steps :

 

  • Title Documents : you will need to check that the seller is the genuine owner with a title document like gift deed, will, legal heir, Sale Deed etc.

 

  • Land Records : you will have to check for different land records on that land that you are buying, they are public records you can check online, for owner, the correct type of land, encumbrance record of the land for tax dues, third party claim etc.

 

  • Negotiation : you have to find out the correct value of the property and after negotiating with the seller you come down to final sale price.

 

  • Advance : after negotiating and agreeing on the sale price you will pay generally 10% of the sale price as advance payment.

 

  • Agreement For Sale : in this everything will be specified including names of buyer and seller, the details of property, agreed sale price, payment terms and schedule, terms and conditions for default penalty.

 

  • Payment : you make the complete payment within 2-3 months.

 

  • Sale Deed : you will now register the Sale Deed at the Sub Registrars Office by paying Registration and Stamp Duty charges.

 

  • Mutation : you will get your name changed on the land records very importantly. Otherwise you won’t be considered as the final owner.

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