Plot to Home
Your journey made easy with Vibrant
Introducing Vibrant Homes
The process of purchasing land and building your dream home is very dear to your heart. The experience of seeing your forever home being built right before your eyes is priceless. But, it also involves meetings with land brokers, visits to the Sub Registrar Office, and securing the services of construction companies, architects, and interior designers who match your vision. It doesn’t sound very exciting, does it? We thought so too! So we decided to take this entire process off your hands and let you experience your home being built without having to get your hands dirty. At Vibrant Homes, you buy a plot and leave it to us to turn it into a home.
“Our vision is to identify land and develop communities in regions that are on the brink of a development surge, and provide customers with a lifestyle that puts convenience and comfort first!”
Gated Community at
Palladam
Your dream home is just around the corner, and there’s more than enough room!
We want to build homes that people don’t feel the need to escape. So, we have purchased 15.9 acres of land in Palladam, Tamil Nadu.
200
plots
1,500
sq. ft. each
Gated Community at
Palladam
Your dream home is just around the corner, and there’s more than enough room!
We want to build homes that people don’t feel the need to escape. So, we have purchased 15.9 acres of land in Palladam, Tamil Nadu.
200
plots
1,500
sq. ft. each
Who is this great for?
YOUNG INVESTORS
- Those starting a new phase of life
- Those looking for an investment opportunity
- Those looking to be a part of the home-owner elite
NRIs
- Those looking to get back to their roots
- Those who want a modern home close to their heritage
- Those who want to settle away from the humdrum of the city
Why choose Vibrant?
Vibrant Spaces has been pioneering interactive and high-quality interiors in the residential, industrial and corporate spaces since 2012. We are also proud to have been an integral part of building the World’s Tallest Statue, the Statue for the Ironman of India, Bharat Ratna Sardar Vallabhai Patel – “The Statue of Unity” in Gujarat. We build where we see value, regardless of the size of the project. We believe that a home reflects a person’s lifestyle and we create your dream home, and a home you will be proud to own and cherish for a lifetime.
Why choose Vibrant?
Vibrant Spaces has been pioneering interactive and high-quality interiors in the residential, industrial and corporate spaces since 2012. We are also proud to have been an integral part of building the World’s Tallest Statue, the Statue for the Ironman of India, Bharat Ratna Sardar Vallabhai Patel – “The Statue of Unity” in Gujarat. We build where we see value, regardless of the size of the project. We believe that a home reflects a person’s lifestyle and we create your dream home, and a home you will be proud to own and cherish for a lifetime.
Contact Us
Get to know the team
The Vibrant team consists of professionals from around the country with diverse backgrounds and experience. From minimal and modern to traditional and rustic, our team has worked on all kinds of home interior requirements. With over 2 decades of experience working on South Indian projects, we are proficient in understanding what will work best for your home in Palladam. We understand how personal your home-building journey is and we take pride in recommending only the best for your home.
Get to know the team
The Vibrant team consists of professionals from around the country with diverse backgrounds and experience. From minimal and modern to traditional and rustic, our team has worked on all kinds of home interior requirements. With over 2 decades of experience working on South Indian projects, we are proficient in understanding what will work best for your home in Palladam. We understand how personal your home-building journey is and we take pride in recommending only the best for your home.
Resources
A great way to expand your finances, improve your lifestyle and buy yourself a new home can all be done with a single investment in a residential plot.
Residential plots are one of the best forms of investment for several reasons:
Bang for your buck: Invest money that you have on residential plots. They don’t always have to be exorbitant and out of your budget.
Transparency and information: Residential plots are not as complicated and riddled with hurdles as the general real estate market. Buying a residential plot is easy as the prices, value and availability are all information you can easily access.
An asset and a home: Buying a residential plot means you have an asset that is constantly growing in value and a home for you to raise a family in. It is a great way to achieve multiple goals at once. It is also an investment you can make whenever you want unlike houses which you have to wait for to be designed and built. Once bought, you can do whatever you want.
Low property tax and maintenance: Land does not cost as much as a house to maintain and taxes for it are also very minimal, comparatively.
Residential plots truly are the best investment to make, no matter your budget. If you are looking for plots currently, Vibrant has several for you to choose from. Happy hunting!
Location is very important when buying property. It is a big investment you’re making into your lifestyle and future so it is important to have it reflect that and cater to all your needs.
Here’s what you need to consider with regard to location before you buy property:
- Personal preference friendly: Is the area surrounding your property a match for you? Does it cater to all your needs of either work proximity or easy access to malls. Whatever you think you might need should be available to you in a place you’re looking to invest in.
- Amenities: Is the area a place with steady water and electricity supply? Does it have accessible public transport facilities and other important amenities such as ATMs, internet providers, network availability etc.,? Please make sure all of these are available before committing to a place
- Recreation: Are there places to unwind like restaurants, malls, bars and parks in the place you intend to buy property? If not, are you willing to entertain yourself in such a place?
All of your choices need to play a part in your investment, choose well and choose wisely. If you want to make the investment without worrying about all this, purchase plots from Vibrant!
Read this before making your first plunge into the property investment world!
Investing in real estate or plots in India is a great idea. It is a great country that is joining the superpowers of the globe, slowly but steadily. But investing in India is tricky business.
- The real estate market in India is unorganized. You can technically buy/sell from/to anyone and anywhere. It is super important to keep this in mind before making a decision. Make sure the property and all the parties involved are legit.
- Get help from professionals. Ensure that everything you’re embarking on is legit and legal. Hire a sound lawyer and real estate expert so you can make the right decision for you without worry.
- Do your research. Whether it’s the location, the price, the quality or the seller. Do. Your. Research. Before taking any decisions forward. It is always better to be safe than sorry and doing research on everything related to your property investment should be things you are aware of.
These are some steps you can take to make sure that your investment plans are legal, profitable and worthwhile.
There are several pros and cons to either investment. Both land and gold have a lot of value and come with their own perks and drawbacks. Before you make any decision, it is better to think about your options and make the choice that will work best for you and your situation.
Investment parameters:
Investing in real estate means investing more but the returns are also higher, whereas gold costs less and can be as small or large an investment as you want it to be.
Price and value:
With gold, you never have to guess. All the information about its value, the rise and fall, can all be found on the public Bullion rates forums. They even give the information out in the news. Real estate is a lot less transparent and rigid. Everything is upto to relative pricing and the negotiation you conduct for individual properties.
But gold is a fickle resource that loses and gains value as per socio-political factors. Real estate definitely suffers too, under such circumstances, but not as drastically and impactfully.
Liquidation:
Gold can easily be converted to money. It is a quick resource of liquid cash that is not bound by the legalities of real estate.
Tax:
Gold deposits are exempt from taxation but gold can be subject to capital gains tax. Real estate, has different parameters to consider such as depreciation, maintenance etc.,
Choose what works for you and choose wisely.
Individual villas are the most coveted pieces of property these days. There are much better than flats for several reasons, as listed below:
- Your place on your terms: Individual villas are great because they are property that are yours completely. They are fully yours and give you full autonomy.
- Stand out: Villas are status symbols. They signify wealth and individuality which is a rarity. You will be living at the height of luxury because your property is built to cater to your needs.
- Neighbors and noise: Buying individual villas means you can live a peaceful life with understanding neighbors. It also helps that they’re likely to live a lot further from you than a neighbor in a flat.
- Freedom: With individual property, you can make changes that you want and suit you best. No holds barred, the property can boast every luxury you want.
- Pets and privacy: living in individual houses means you can keep yourself safe from prying eyes and install higher levels of security. It can also mean that you can grow the pets you want without worrying about the restrictions.
- Parties, recreation and fun: Having a terrace or lawn of your own means you can entertain guests or yourself on your terms.
Make the choice you want for your future home considering every option. It is important to have a worthwhile return on investment and it doesn’t always have to monetarily.
Plot prices are influenced by several factors. These factors can be due to socio-economic factors, geographical factors or available amenities around the plot.
Here are the main factors that influence prices in real estate:
- Location: Prices for plots are higher in cities, metropolitan areas and other developed parts of the world. The more opportunities a place has for profit and success, the more people are willing to invest there.
- Infrastructure: The area’s infrastructure and amenities play a big role in the value of the property. If you live near a very successful shopping center, school or commercial enterprise, it is very likely that the property will be more in demand and therefore higher in price.
- Land itself: Land, if fertile and able to grow crops or cater to specific infrastructural needs, will cost more. Land that can provide harvest and a source of income are highly coveted and therefore worth a lot of money.
- Roads, pathways and development: If the piece of land is accessible it can be worth a lot of money. People need to get from and to places so roads, transportation and other ways of access will add value to a property.
When choosing land to invest in, it is always ideal to consider personal preferences and needs. You should invest in places that cater to you.
It is not a secret that real estate in India is a confusing and unorganized sector of the property market. That is why it is important to buy property from legitimate sources and sellers with the right documentation.
Do not be fooled by sellers and brokers who claim that their property is approved by the DTCP (Directorate of Town and Country Planning) or the CMDA (Chennai Metropolitan Development Authority). Ask them to provide the land deed with the approval and check the year then, cross reference this information with the local government office or department.
Once you know the property is legit you can check to see if the property is near any public utility service like schools or bus stops. If so, make sure the property is not near encroached land or sold to you under false pretenses. It is important to verify your purchases every step of the way.
While we encourage this, you don’t have to worry about any of this with Vibrant. Our plots are on land that was acquired with the right documentation and is a legal and worthwhile investment. Reach out to us today and start investing!
Buying a plot in Chennai is a great idea! The metropolitan city is a great place to be; the vibrant lifestyle and the people are some of the best south India has to offer!
With the rise in demand for real-estate in the city, more and more land is being sold. But you must be wary. The land is often sold by parties that are not selling proper, legally approved land and are trying to swindle you. Never pay in advance.
There are two main things you need to do:
- Look for CMDA approved land: This means that the land sold is approved by the Chennai Government and can therefore be trusted.
- Hire a Lawyer: Your lawyer can help you with legal issues and navigating frauds. Make sure to consult a legal expert before making the plunge.
All property sales should be verified and worthwhile. Good luck!
Investing in real estate is always going to be one of the forms of investment. Not only does it offer returns that increase by the year it also improves social and economic standing. While all of this is true, is investing in a small town or a tier II city a good idea? Yes, it is!
Tier II cities and small towns are showing exponential opportunities for investment. There are several reasons to invest in these areas rather than largely coveted metropolises.
- Cost: it costs a lot less to buy property (land or otherwise) in remote areas. You will be investing in larger, more luxurious lands and properties for a fraction of the price in cities.
- Lifestyle: Lifestyle can be a lot better in small towns. Not only are there less pollutants in the air, it is also quieter and has more opportunities to unwind.
- Returns: Real estate investment is always appreciating and investing in tier II cities will do the same in the coming years. There is more demand for property and land in these areas that you can definitely take advantage of.
No matter where you invest, make sure you’re choosing the right property and do your due diligence.
Residential plots are an excellent investment option, not only do they appreciate in value but they are also a great place to build a home and start your life. Although widely accepted as one of the best ways to increase wealth, buying plots comes with certain risks that need to be considered before purchasing.
Buying plots is not a dangerous investment option but you need to take certain steps and measures to ensure that your money is going to the right place and the purchase is of the right value.
Here are some things you need to do before taking the leap into residential real estate investment:
The first thing to consider is how you’re going to use the plot and purchase accordingly. A residential plot is what you want to invest in if you want to develop a house. This cannot be done in commercial spaces so you need to buy the property that’s right for you.
The measurements of the plot are very important too. Make sure you measure out the area you’re purchasing for legal and practical purposes. The plot should accommodate your needs and also not raise any legal issues in the future. The plot you buy should fully and legally be yours.
Make sure that your sellers are legit. From documentation to purchase, everything should be on paper so you don’t have any unexpected surprises. Ensure the release certificate clears the property from any financial ties unbeknownst to you and get an encumbrance certificate to prevent any legal mishaps.
You need to make smart decisions with your money. From comprehensive legal documentation to top quality plots, Vibrant is your best option. We sell plots in up and coming neighborhoods that will appreciate in value quickly, with little effort.
Choose your future. Choose Vibrant.
Investing in plots is always a great idea! Not only is it an asset that steadily gains value over time, but it is also a great way to elevate your lifestyle. Whether you’re moving to the new place you buy or are gaining profits from it, real-estate is a wonderful investment option.
While you have made the decision to invest, it is important to do it correctly.
Here are some ways you can make sure you get the bang for your buck:
- Verify your purchase: Verify what you’re buying, who you’re buying from and where you’re buying. The quality of land is important but the location is just as important, if not more. Everyone under the sun is selling plots at prices that are too good to be true these days, do not consider these options unless you are sure that it is a plot worth purchasing in a place of value.
- Check utilities: Plots can often be sold without proper resources around, make sure that the plot you’re buying has all the amenities such as water supply and proper sewage systems in place. Don’t invest in uninhabitable land.
- Secure the funds: It is crucial to keep the money you will need to purchase the plot at the ready. If you’re going to take out a loan, make sure you don’t have any previous dues or gaps in your financial history. Making sure you have buying power is important to making investments.
- Check your documents: Documentation is vital to making successful investments. Make sure that all documents pertaining to you, the seller and the property are legit and then go forward with your purchase.
Your bright future is only one right decision away.
Real estate, unfortunately, is still an unorganized sector in India. This means that anyone can broker for you or to you and sell properties. This obviously leads to a lot of problems when it comes to authenticity and legality. There have been several instances of fraud and misinformation in the real estate market.
This problem of unaccountability has plagued this market for a long time. That is why the Real Estate Regulation and Development Act (RERA) was introduced in 2016. This Act helps homeowners stay safe in their investments and holds people involved in the industry accountable to standards and deadlines.
RERA was created to ensure that investors get their money’s worth.
What is the impact?
With RERA in place you will be protected as buyers. Developers will have to stick to the deadlines they promise and will be penalized incase of violation. RERA has made it that you can demand a refund plus interest for projects that are overdue. While earlier, the onus was on the investors.
All projects must be registered with RERA before promoting the project, this act has made it a lot easier to buy homes/property without worrying about risk.
RERA ensures that developers are also transparent about the progress of the project on its official website that you can check out to keep up.
RERA keeps your investments safe and you should use it to your advantage, do your due diligence before making any investments.
Documentation is very important when it comes to sale and purchase of property. It not only provides you with the safety net you need to prevent future legal woes but also helps you make informed decisions about your property.
Here are some basic documents to verify and research when buying property:
- The Sale Deed: The sale deed establishes that you have purchased this property within legal parameters and the sellers are legitimate in their part also. The sale deed ensures that the property becomes rightfully yours.
- Occupancy Certificate: This certificate is a must. It ensures that the place you’re buying your property meets all the civic needs such as water, drainage, electricity etc., never buy property that cannot guarantee your basic needs being met.
- Encumbrance Certificate: The Encumbrance Certificate ensures that your property is not tied in any legal bungles, previous mortgages etc., This certificate ensures that your property is a clean slate making the property a worry-free investment.
- The Building Plan: If you’re purchasing a property that’s already built, it is important to buy it with the building plan. You can acquire these from local municipal authorities so you have a clear idea of what you’re investing in.
- Mutation Certificate: The Mutation Certificate clears the property of all tax liabilities when exchanging hands. It makes sure that the new owner is not liable for the taxes of the previous owners.
- RERA: The Real Estate Regulation Act is an act launched by the government to make sure your transactions are transparent and keep you safe from fraud and other issues. Check out https://www.rera.tn.gov.in/ for more information.
Buying property with all these documents is the best way to ensure that you and your investment are protected. You don’t have to worry about any of this with Vibrant, we are here to keep your purchase as seamless as possible.
Do your research before any purchase, it keeps you safe and your property worth the investment.
Buying property is and always will be the best way to ensure your money is spent well. Not only will you be making an investment that will give you returns, it will also be a great way to stabilize yourself financially in the long run.
Buying property is a great idea but you have to do it right. In India, it is a complicated albeit thorough process that needs proper and clear documentation. You need to ensure that you are making the right decisions and we are here to help keep you informed.
Here’s a list of the documentation you need to plunge into the property pool, in India:
- Title Deed: This document ensures that the property you’re buying is clear of any previous encumbrances and clearly states that ownership of the property. So you can buy the right property from the rightful owner.
- Encumbrance Certificate: This certificate needs to be applied for when purchasing a property to ensure that there are no backlogs or longstanding issues in connection to the property. It helps you buy property that is problem free.
- Sale Deed: This document is to be submitted to the sub-registrar in the event of sale, it shows proof of the event and everything it entails.
- Extracts: AKA Pattas are documents that show proof of your property being registered with local municipal bodies and their approved plans. If you’re buying property that’s under Gram Panchayat jurisdiction then you need Mutation Register Extract/ Chitta and Adangal extract. These documents are crucial to being informed of whether what you’re buying is legal and viable property.
- Power of Attorney: This document gives a trusted signatory the power to sign on someone’s behalf in case they are unavailable.
- Master Plan: This is the plan for your property that the builder promises, if you’re buying a house/building. It is important that the facts are true and match the site.
- House Plan Approval: Every property has to be approved before being built. These days you need to build property according to GRIHA (Green Rating for Integrated Habitat Assessment) to make sure your property is eco-friendly and sustains renewable energy resources.
- No Objection Certificates: This certificate ensures that all your loans and the seller’s transference of property rights etc., are approved without glitch.
Make sure to keep all the above documents at the ready when purchasing/selling property. Make good investments and good choices with Vibrant.
Buying property in Tamil Nadu is a lot different than anywhere else. Our land procurement, sale and purchasing records are extremely through and go back as far as possible when it comes to records. If you have been considering buying property in Tamil Nadu for a while, it is near impossible to go without hearing the words Patta or Chitta.
Patta and Chitta are the records that give detailed and verified information about all property in Tamil Nadu. These records have all the necessary information about a property and its owners. It is the proof to show ownership of a property and all its attributes.
What is a Patta?
A Patta AKA the Record of Rights documents is legally issued by the Tamil Nadu government. The document provides important details such as property ownership (Name of the Owner), Survey number and subdivision, type of land (wet/dry), total area of land, and property tax details, patta number, district, taluk and village details.
What is a chitta?
While the patta gives details about the land; the chitta gives information of the land revenue. It specifies the name of the owner, type of land etc., The VAO (Village Administrative Officer and the Taluk Office are incharge of maintaining this document.
What can you find on a Patta and Chitta?
- Land owner’s name
- Survey number of the property
- Survey Number and the Sub-division
- Property dimensions
- Tax details of the property
- Type of Land (Dry or wetland)
- Name of the district, village and taluk of the owner
- Chitta land ownership
- Patta Quantity
If you want to apply for Patta and/or Chitta in the Tamil Nadu Land Records website, you need to have the following documents beforehand:
- A photocopy of the sales deed that needs to be submitted to the Thasildar office
- Electricity Bill or Previous Property Tax receipt to confirm proof of ownership
Patta Migration Process
During purchase/sale pattas are transferred from the sellers’ name to the buyers. Here’s everything you need to make the transfer once the report is approved:
Photocopy of the sales deed
Previous Tax receipts
Water or electricity bill that prove ownership
An affidavit
Encumbrance certificate
How to acquire a Patta or Chitta:
In the modern age, you can get a patta for the property you want to buy online!
Follow these simple steps to get the job done:
Visit: https://eservices.tn.gov.in/eservicesnew/index.html and click on Patta, Chitta or TSLR Extract.
You can then pick out whichever district you’re buying in.
The property listings will be given with their survey and subdivision numbers, the village, block etc.,
After you submit the property details, the Town Survey Land Register will be issued to you, online.
This certificate will give you all the details pertaining to the land and its characteristics.
What documents do you need to get a Chitta?
The Sale Deed: You must send the sale deed along with a copy to either the Tasildhar or the concerned local office.
Possession Proof: You must show proof ownership which can be done with electricity bills, tax receipts you’ve paid against the property and an encumbrance certificate.
If you want to change the name on the patta after purchase, go to the local admin office and fill the forms they ask for.
You also need to give them proof of possession and other documents to prove your ownership.
(This will take 30 days)
Use the government’s quick and easy portal to get started on your investment!
With the rise in real estate investments from every corner in the world, it is important to keep up with the demand. People buy land, houses, buildings etc., for several reasons; from financial stability, profit, investment to migration, status or building/moving to new homes. Whatever the case, the demand for real estate is high and is only going to get higher.
With this uptick in demand, there had been a surge in exploitation and swindling too. People forge documents to sell property to buyers that either isn’t theirs, not as valuable as they claim or simply non-existent. There have been several cases reported against people who fake documents and pass them off as legit and/or profitable.
Don’t let this turn you off from investing, there is a solution!
Pattas are Rights to Record (ROR) that are used to show proof of ownership of all types of land. It is especially important to have these made up for land that is unoccupied or not maintained as often. The lack of usage leads to people poaching the land and passing it off as their own.
You can acquire patta by contacting the local government body and they will send someone to inspect your property or the one you intend to buy. You may be asked to show documents to confirm the ownership/claim and other identifying documents. Then, the thasildhaar will either approve or reject your claim. If you are buying the property you must make the claim to have the property’s ownership be changed accordingly.
It is important to stay on top of this matter until it gets done. It is a long and tedious process but it is very important. Investing in land/property is a great idea but it is just as important to do it right.
When buying, make sure that the patta that the seller shows is legit and have it cross-verified. The patta should claim exactly what the owner claims in terms of land quality, area and size.
Make the best decisions for your future today!
First and foremost, all of your registration must be done according to Section 17 of the Registration Act of 1908.
- Keep all your documents at the ready. You can find the list of documents you need on this page. You must also have identification of self and property specific documentation such as in the case of apartments, a photocopy of Society share certificate and Society Registration Certificate.
- Power of attorney, if need be.
- Hire a lawyer. It is very important to have a legal expert by your side throughout the process.
- Make sure you are ready with everything and have all the necessary copies, ID proofs and payment slips on the day, it is not wise to scramble around on the day off. Registration is a long and tedious task, it is better to get it done as seamlessly as possible.
- These days, you can make payment online. Make sure to pay stamp duty and your registration charges beforehand. You can’t get an appointment with the registrar otherwise.
- TDS should be deducted on property of over 50 lakh rupees.
Listen to your lawyer and make sure you follow procedure. It is always better to be safe than sorry.
In the current economic climate it is extremely difficult to invest money in property. This is why the Pradhan Mantri Awas Yojana (PMAY) was created by the government. This scheme aims to build 20 million affordable housing options by 31 May 2022.
The PMAY is intended to uplift the urban poor and empower them with housing.
Here’s everything you need to know about PMAY and how you can access it:
PMAY: Features and Benefits
- The PMAY was introduced to bridge the gap between the economically disadvantaged and those of wealth.
- The housing scheme has special provisions for minority communities such as Scheduled Caste and Scheduled Tribe, Lower Income Group, widows and the transgender community.
- The scheme also has special provisions for women and senior citizens to access housing in safe places or on the ground floor for easier access.
- You can avail all these benefits upon registration.
- In this scheme it is mandatory to make your spouse or female partner the beneficiary of the property.
How does PMAY work?
You are likely to get subsidies on loan if you fall under the categories that are on the lower financial rungs. These groups will likely be given a percentage of money to pay off the property’s expenses of purchase or construction.
The beneficiaries of this scheme will receive lower interest rates on loans and be given fair treatment regardless of background, gender, caste or creed.
What are the benefits of PMAY?
There are several benefits to this scheme. It was created to help with rehabilitation of slums, and provide subsidies for beneficiary-led individual house construction.
There is also a Credit Linked Subsidy Scheme to help lower income groups secure housing loans.
Beneficiaries Under PMAY Scheme 2021 – 2022
Who can avail the housing benefits of the PMAY scheme?
Middle Income Group (MIG I) – Annual Income of Rs. 6 – 12 lakhs
Middle Income Group (MIG II) – Annual Income of Rs. 12 – 18 lakhs
Low Income Group (LIG) Annual Income capping at Rs. 3 – 6 lakhs
Economically Weaker Section (EWS) Annual Income capping at Rs. 3 lakhs
While EWS are eligible for complete assistance, LIGs and MIGs are eligible only for Credit Linked Subsidy Scheme under PMAY.
The applicant must submit an affidavit to support his income claim for them to be recognized as an LIG or EWS beneficiary under the Scheme.
How to apply for PMAY
A signed application form
Property documents: the allotment letter, NOC from society/builder, deed of sale or sale agreement, etc.
Income proof:
For salaried employees: 6 months’ salary slip, last 6 months’ bank statement, latest form 16, etc.
For self-employed: Balance sheet, profit & loss account, IT returns, computation, etc.
ID proof: Aadhar card, PAN card, driving license, voter ID, etc.
Address proof: Passport, voter card, Aadhar card, rent agreement, or latest utility bill
Find out more details at: https://pmaymis.gov.in/
Buying property in Tamil Nadu has some specific procedure that must be followed. From stamp paper purchase to property registration charges, here’s all the things you need to do once you decide to invest in Tamil Nadu:
After buying your property, even if you have exchanged documents and paid the seller it cannot legally be considered yours unless you have paid stamp duty and registered the property according to Tamil Nadu Government rules. You must also acquire an encumbrance certificate for the property.
Stamp Duty & Property Registration
Stamp duty is the payment you make to buy stamp paper. This is a form of property tax that you must pay in order to legally acquire a property. Property registration is done on these stamp papers at the sub-registrar’s office with a lawyer and with witnesses.
This is an important step in property ownership because it solidifies your claim on the property making it a viable investment. If you fail to register and pay the duty in the given time, your property will drastically lose value.
There will be different charges for stamp duty and registration, depending on the property and the place you’re buying in.
For example: In Chennai, stamp duty is 7% higher value and registration charge 4% higher value. So you’ll have to pay accordingly.
You must do your due diligence before investing. Make sure to contact your lawyer and research the property you’re buying before making any concrete decisions.
Property registration and stamp duty details:
The application fee for getting an encumbrance certificate for any 1 survey number is Rs. 1
Search fee for the first one year is Rs. 30.
After the first year for every additional year the search fee is Rs. 10.
Extra fees in computerized period i.e., from 1987 is Rs. 100.
For getting an encumbrance certificate when there is an urgent requirement for EC in non-computerization period you have to pay double the fee.
- Fees for getting certified copies- Application fee Rs. 1.
- Search fee for first year Rs. 10.
- Computer fees Rs. 100.
- Stamp duty Rs. 20.
In the case of conveyance (sale) or gifting of property, the stamp duty would be 7% of the market value of the property and the registration fee would be 4% of the market value of the property.
In case of exchange of property, the stamp duty would be 7% of the market value of the property with greater value. The registration charges would be 4% of the market value of the property with greater value.
In the case of simple mortgage, the stamp duty would be 1% (on the loan amount) upto a maximum of Rs. 40,000. The registration charge would be 1% on the loan amount upto a maximum of Rs 10,000.
In the case of a mortgage with possession, the stamp duty would be 4% on the loan amount and the registration fee would be 1% subject to a maximum of Rs. 2,00,000.
Stamp paper vendors are to sell the stamp paper at the face value of the stamp and the Sub Registrars, Treasuries, Assistant Superintendent of stamps also provide the stamp paper.
Stamp Paper is also made available at Stamp Sales Depot” at 27, Rajaji Salai, Chennai 600001.
Registration
Once you have fulfilled all these procedures, you must register the property with the sub-registrar office in the jurisdiction of the property as per Registration Act, 1908. Any claim of ownership is void if you do not register your property.
Sale Deed
You must prepare a sale deed with the help of advocates, a chartered accountant who has a license for document writing or licensed document writers.
Choose a person that you trust and can rest assured will produce a document without error.
Property Registration
Properties bought must be registered within 4 months time in Tamil Nadu.
Here’s the complete list of documents you will need to register your property, properly and legally:
- Stamped Signed and duly executed document
- The claimant of the sale document has to appear before the registering officer and sign the sale deed at the time of registering the sale
- There has to be a Patta Transfer application provided along with court fee paid
- PAN card Number
- Patta Passbook
- An ID card to be provided both for the executant as well as the claimant (for all deeds registered)
- An ID card for witnesses if any.
Go over legal procedure with your lawyer to ensure that you have all the necessary documents.
We hope this post helps you with your investments and future endeavors!
RERA (Real Estate Regulatory Authority) is the overseeing body that was established to make real estate purchase and sale transparent and to protect buyers from fraud, delay and misinformation.
RERA was brought to Tamil Nadu as per the act and has a body of its own in the state.
THE FUNCTIONS OF RERA IN TAMIL NADU
- To cater to and empower home buyers by holding stakeholders accountable for things such as deadlines, refunds, quality etc.,
- To create transparency in the real estate market.
- Offer speedy solutions for the concerns raised.
- Foster a regulated and viable environment to promote real estate investments.
- To ensure that projects are executed efficiently and without delay..
- To standardize real estate project parameters across the state.
What RERA can do for you:
DISPUTES
Each state must set up a regulatory body to settle disputes between buyers and real estate developers within 120 days of the complaint being raised.
EXPENSES
70% of the money collected from buyers has to be set aside by the developer in a separate account only for the construction cost of the property and no other purpose. These figures must be audited each year. In case of discrepancies/mismanagement, the developers are required to reimburse homebuyers in full with interest.
REGISTRATION WITH REGULATOR
If the land is over 500 sq.m, or where there are eight or more apartments in the building, the project has to be registered with a regulator before the launch.
DELAYS
Promoters will have several restrictions to ensure that the project is completed on time. In case of delays, the developer will be liable to pay an interest of State Bank of India’s highest marginal cost of lending rate plus 2% within 45 days of due.
CARPET AREA
The carpet area has to be clearly defined including usable spaces like kitchen and toilet. In case of more than a 5% decrease in the carpet area, the customer is entitled to a refund. Interestingly, in case of an increase in carpet area, the buyer will not have to pay any additional amount to the promoter. Buyers only have to pay for the carpet area agreed upon and not for the surplus area. Falsified figures will incur a heavy penalty.
STRUCTURAL DEFECTS
The liability period of developers has been increased to 5 years from the previous 2 years and within this time, they are responsible for clearing all structural defects within 30 days of the matter being brought to notice, free of charge.
CLEARANCES
The project can only be sold after they have gotten the clearance to do so from the RERA body. Doing so before that can lead to penalization.
To ensure that projects are executed in a prompt and efficient manner.
What needs to be registered under RERA?
Any project exceeding 500 sq/mts or projects involving more than 8 apartments should be registered with TNRERA.
In case the project is outside the Chennai Metropolitan Area, the promoter is required to pass details regarding the structural completion to the local planning authorities within 15 days from the date of notification. The Director of Town and Country Planning office must also be informed to exclude the project from the ambit of RERA registration.
RERA makes an exception for affordable housing options and the Tamil Nadu Slum Clearance projects.
You can check the registration of projects on the RERA website:
- Open the TNRERA official website
- Select the ‘registration’ tab to search for projects.
- Select the registered projects tab.
- A portal shall open up showing the information of all projects registered between 2017-present in both Tamilnadu and Andaman and Nicobar Islands (based on your choice of location).
The TNRERA regulations have put a leash on real estate transactions and helped regulate property sale and purchase since 2016. In order to bring trust and accountability to the market and promote credible demand, it has helped protect the interest of all stakeholders in the real estate business.
RERA has helped regulate a part of the economy that so far has been very unorganized and easy to defraud and swindle in. It also holds larger developers accountable on their deadlines and delivery.
Make sure to use this wonderful resource when you invest in property in Tamil Nadu.
How to raise a complaint to RERA:
Download Form M. After filling up the details, you will have to pay an online fee of Rs 1,000 on the TNRERA website.
Submit no less than three copies of details of the complaint which needs to be forwarded to the respondent along with proofs and documents duly attested on all pages. You can send this to the authority as a registered post or you could go to the office.
The copies must reach the office within seven days of filing the complaint online for Tamil Nadu-based cases and within 10 days for Andaman-based cases.
Complaints can be presented by the complainant or by an advocate.
The complainant must also pay a sum of Rs 600 online towards postal charges incurred by the authority.
Vibrant Plots are here to ease your worries of buying new property. Not only are all of our plots legally registered and located in prime locations. We also offer the option of building your home on your new plot of land. Vibrant houses a team of experts in construction and design. If you choose to develop your property we will do everything in our power to make your house the best it can be.
If you believe in Vastu and need your house built according to it, we can do that too.
What is Vastu?
Vastu is the building of your house in harmony with the five elements. It is done to make sure your home radiates the right energy and is a beacon for positivity.
Here are some Vastu tips for when you construct your house:
- The door must face the north, the north-east or the east and be built with quality wood. Make sure the door opens clockwise and is well-lit. Avoid shoe racks, dustbins, fountains and animals outside or near the door or painting it black. The main door must be bigger than the rest of the doors in your house.
- The living room must face either the north, the north-east or the north-west. It is the room with the most activity so it is important to have a positive space. Keep heavy furniture in the west or the south-west. Keep electronics in the south-eat side of the room. If you want to have a mirror in the room, keep it in the north wall.
- The bedroom is the place we unwind and sleep, it is important to keep it balanced. Keep the bedroom in the south-west direction with your head facing west. Avoid the north-east or south-east zone of the house as the first may cause health issues and a bedroom placed in the latter direction may cause disputes/problems in a relationship. Do not put mirrors or TVs in front of the bed, this is supposed to disturb the balance in relationships. Use mood lighting and aromatherapy to keep a calm and cool vibe. Avoid painting with temples, fountains or water in the bedroom, this is known to cause emotional instability. Painting your room neutral and earthy colors keeps the room positive; avoid black walls.
- The kitchen should be in the south-east because that’s where the fire element is strongest. You can keep it in the north-western part of the house too but usually avoiding the north for the kitchen is ideal, as it causes the female members of the family health concerns. Keep sinks and water supply outlets in the north-east, as far from gas supply as possible. Avoid dining tables in the center of the kitchen and rather keep them in the north-west direction. Keep electronic appliances in the south-west.
These are rough ideas of vastu, it is always best to consult your priest and elders.
Good luck with your new house, Vibrant wishes you success and prosperity.
Land is a great resource. It can be used in several ways to help you either monetarily or recreationally.
Here are some ways to use vacant and available land:
- Development: Developing your land with a building company or an engineer is a great way to make your vacant land a paying resource rather than a spending one.
- Farming: You can rent out your land to agricultural experts and let them grow produce and sell them. Farmers are in dire need of our support and this is a great way to help them while also using land that would otherwise waste away.
- Storage: If you have an excess of things in your current place of residence or work, you can use your land to store your things.
- Recreation: You can use your land to camp, throw garden parties or host events with outdoor seating.
Land is a wonderful and versatile resource, the only limit to its usage is your imagination.
Resources
A great way to expand your finances, improve your lifestyle and buy yourself a new home can all be done with a single investment in a residential plot.
Residential plots are one of the best forms of investment for several reasons:
Bang for your buck: Invest money that you have on residential plots. They don’t always have to be exorbitant and out of your budget.
Transparency and information: Residential plots are not as complicated and riddled with hurdles as the general real estate market. Buying a residential plot is easy as the prices, value and availability are all information you can easily access.
An asset and a home: Buying a residential plot means you have an asset that is constantly growing in value and a home for you to raise a family in. It is a great way to achieve multiple goals at once. It is also an investment you can make whenever you want unlike houses which you have to wait for to be designed and built. Once bought, you can do whatever you want.
Low property tax and maintenance: Land does not cost as much as a house to maintain and taxes for it are also very minimal, comparatively.
Residential plots truly are the best investment to make, no matter your budget. If you are looking for plots currently, Vibrant has several for you to choose from. Happy hunting!
Location is very important when buying property. It is a big investment you’re making into your lifestyle and future so it is important to have it reflect that and cater to all your needs.
Here’s what you need to consider with regard to location before you buy property:
- Personal preference friendly: Is the area surrounding your property a match for you? Does it cater to all your needs of either work proximity or easy access to malls. Whatever you think you might need should be available to you in a place you’re looking to invest in.
- Amenities: Is the area a place with steady water and electricity supply? Does it have accessible public transport facilities and other important amenities such as ATMs, internet providers, network availability etc.,? Please make sure all of these are available before committing to a place
- Recreation: Are there places to unwind like restaurants, malls, bars and parks in the place you intend to buy property? If not, are you willing to entertain yourself in such a place?
All of your choices need to play a part in your investment, choose well and choose wisely. If you want to make the investment without worrying about all this, purchase plots from Vibrant!
Read this before making your first plunge into the property investment world!
Investing in real estate or plots in India is a great idea. It is a great country that is joining the superpowers of the globe, slowly but steadily. But investing in India is tricky business.
- The real estate market in India is unorganized. You can technically buy/sell from/to anyone and anywhere. It is super important to keep this in mind before making a decision. Make sure the property and all the parties involved are legit.
- Get help from professionals. Ensure that everything you’re embarking on is legit and legal. Hire a sound lawyer and real estate expert so you can make the right decision for you without worry.
- Do your research. Whether it’s the location, the price, the quality or the seller. Do. Your. Research. Before taking any decisions forward. It is always better to be safe than sorry and doing research on everything related to your property investment should be things you are aware of.
These are some steps you can take to make sure that your investment plans are legal, profitable and worthwhile.
There are several pros and cons to either investment. Both land and gold have a lot of value and come with their own perks and drawbacks. Before you make any decision, it is better to think about your options and make the choice that will work best for you and your situation.
Investment parameters:
Investing in real estate means investing more but the returns are also higher, whereas gold costs less and can be as small or large an investment as you want it to be.
Price and value:
With gold, you never have to guess. All the information about its value, the rise and fall, can all be found on the public Bullion rates forums. They even give the information out in the news. Real estate is a lot less transparent and rigid. Everything is upto to relative pricing and the negotiation you conduct for individual properties.
But gold is a fickle resource that loses and gains value as per socio-political factors. Real estate definitely suffers too, under such circumstances, but not as drastically and impactfully.
Liquidation:
Gold can easily be converted to money. It is a quick resource of liquid cash that is not bound by the legalities of real estate.
Tax:
Gold deposits are exempt from taxation but gold can be subject to capital gains tax. Real estate, has different parameters to consider such as depreciation, maintenance etc.,
Choose what works for you and choose wisely.
Individual villas are the most coveted pieces of property these days. There are much better than flats for several reasons, as listed below:
- Your place on your terms: Individual villas are great because they are property that are yours completely. They are fully yours and give you full autonomy.
- Stand out: Villas are status symbols. They signify wealth and individuality which is a rarity. You will be living at the height of luxury because your property is built to cater to your needs.
- Neighbors and noise: Buying individual villas means you can live a peaceful life with understanding neighbors. It also helps that they’re likely to live a lot further from you than a neighbor in a flat.
- Freedom: With individual property, you can make changes that you want and suit you best. No holds barred, the property can boast every luxury you want.
- Pets and privacy: living in individual houses means you can keep yourself safe from prying eyes and install higher levels of security. It can also mean that you can grow the pets you want without worrying about the restrictions.
- Parties, recreation and fun: Having a terrace or lawn of your own means you can entertain guests or yourself on your terms.
Make the choice you want for your future home considering every option. It is important to have a worthwhile return on investment and it doesn’t always have to monetarily.
Plot prices are influenced by several factors. These factors can be due to socio-economic factors, geographical factors or available amenities around the plot.
Here are the main factors that influence prices in real estate:
- Location: Prices for plots are higher in cities, metropolitan areas and other developed parts of the world. The more opportunities a place has for profit and success, the more people are willing to invest there.
- Infrastructure: The area’s infrastructure and amenities play a big role in the value of the property. If you live near a very successful shopping center, school or commercial enterprise, it is very likely that the property will be more in demand and therefore higher in price.
- Land itself: Land, if fertile and able to grow crops or cater to specific infrastructural needs, will cost more. Land that can provide harvest and a source of income are highly coveted and therefore worth a lot of money.
- Roads, pathways and development: If the piece of land is accessible it can be worth a lot of money. People need to get from and to places so roads, transportation and other ways of access will add value to a property.
When choosing land to invest in, it is always ideal to consider personal preferences and needs. You should invest in places that cater to you.
It is not a secret that real estate in India is a confusing and unorganized sector of the property market. That is why it is important to buy property from legitimate sources and sellers with the right documentation.
Do not be fooled by sellers and brokers who claim that their property is approved by the DTCP (Directorate of Town and Country Planning) or the CMDA (Chennai Metropolitan Development Authority). Ask them to provide the land deed with the approval and check the year then, cross reference this information with the local government office or department.
Once you know the property is legit you can check to see if the property is near any public utility service like schools or bus stops. If so, make sure the property is not near encroached land or sold to you under false pretenses. It is important to verify your purchases every step of the way.
While we encourage this, you don’t have to worry about any of this with Vibrant. Our plots are on land that was acquired with the right documentation and is a legal and worthwhile investment. Reach out to us today and start investing!
Buying a plot in Chennai is a great idea! The metropolitan city is a great place to be; the vibrant lifestyle and the people are some of the best south India has to offer!
With the rise in demand for real-estate in the city, more and more land is being sold. But you must be wary. The land is often sold by parties that are not selling proper, legally approved land and are trying to swindle you. Never pay in advance.
There are two main things you need to do:
- Look for CMDA approved land: This means that the land sold is approved by the Chennai Government and can therefore be trusted.
- Hire a Lawyer: Your lawyer can help you with legal issues and navigating frauds. Make sure to consult a legal expert before making the plunge.
All property sales should be verified and worthwhile. Good luck!
Investing in real estate is always going to be one of the forms of investment. Not only does it offer returns that increase by the year it also improves social and economic standing. While all of this is true, is investing in a small town or a tier II city a good idea? Yes, it is!
Tier II cities and small towns are showing exponential opportunities for investment. There are several reasons to invest in these areas rather than largely coveted metropolises.
- Cost: it costs a lot less to buy property (land or otherwise) in remote areas. You will be investing in larger, more luxurious lands and properties for a fraction of the price in cities.
- Lifestyle: Lifestyle can be a lot better in small towns. Not only are there less pollutants in the air, it is also quieter and has more opportunities to unwind.
- Returns: Real estate investment is always appreciating and investing in tier II cities will do the same in the coming years. There is more demand for property and land in these areas that you can definitely take advantage of.
No matter where you invest, make sure you’re choosing the right property and do your due diligence.
Residential plots are an excellent investment option, not only do they appreciate in value but they are also a great place to build a home and start your life. Although widely accepted as one of the best ways to increase wealth, buying plots comes with certain risks that need to be considered before purchasing.
Buying plots is not a dangerous investment option but you need to take certain steps and measures to ensure that your money is going to the right place and the purchase is of the right value.
Here are some things you need to do before taking the leap into residential real estate investment:
The first thing to consider is how you’re going to use the plot and purchase accordingly. A residential plot is what you want to invest in if you want to develop a house. This cannot be done in commercial spaces so you need to buy the property that’s right for you.
The measurements of the plot are very important too. Make sure you measure out the area you’re purchasing for legal and practical purposes. The plot should accommodate your needs and also not raise any legal issues in the future. The plot you buy should fully and legally be yours.
Make sure that your sellers are legit. From documentation to purchase, everything should be on paper so you don’t have any unexpected surprises. Ensure the release certificate clears the property from any financial ties unbeknownst to you and get an encumbrance certificate to prevent any legal mishaps.
You need to make smart decisions with your money. From comprehensive legal documentation to top quality plots, Vibrant is your best option. We sell plots in up and coming neighborhoods that will appreciate in value quickly, with little effort.
Choose your future. Choose Vibrant.
Investing in plots is always a great idea! Not only is it an asset that steadily gains value over time, but it is also a great way to elevate your lifestyle. Whether you’re moving to the new place you buy or are gaining profits from it, real-estate is a wonderful investment option.
While you have made the decision to invest, it is important to do it correctly.
Here are some ways you can make sure you get the bang for your buck:
- Verify your purchase: Verify what you’re buying, who you’re buying from and where you’re buying. The quality of land is important but the location is just as important, if not more. Everyone under the sun is selling plots at prices that are too good to be true these days, do not consider these options unless you are sure that it is a plot worth purchasing in a place of value.
- Check utilities: Plots can often be sold without proper resources around, make sure that the plot you’re buying has all the amenities such as water supply and proper sewage systems in place. Don’t invest in uninhabitable land.
- Secure the funds: It is crucial to keep the money you will need to purchase the plot at the ready. If you’re going to take out a loan, make sure you don’t have any previous dues or gaps in your financial history. Making sure you have buying power is important to making investments.
- Check your documents: Documentation is vital to making successful investments. Make sure that all documents pertaining to you, the seller and the property are legit and then go forward with your purchase.
Your bright future is only one right decision away.
Real estate, unfortunately, is still an unorganized sector in India. This means that anyone can broker for you or to you and sell properties. This obviously leads to a lot of problems when it comes to authenticity and legality. There have been several instances of fraud and misinformation in the real estate market.
This problem of unaccountability has plagued this market for a long time. That is why the Real Estate Regulation and Development Act (RERA) was introduced in 2016. This Act helps homeowners stay safe in their investments and holds people involved in the industry accountable to standards and deadlines.
RERA was created to ensure that investors get their money’s worth.
What is the impact?
With RERA in place you will be protected as buyers. Developers will have to stick to the deadlines they promise and will be penalized incase of violation. RERA has made it that you can demand a refund plus interest for projects that are overdue. While earlier, the onus was on the investors.
All projects must be registered with RERA before promoting the project, this act has made it a lot easier to buy homes/property without worrying about risk.
RERA ensures that developers are also transparent about the progress of the project on its official website that you can check out to keep up.
RERA keeps your investments safe and you should use it to your advantage, do your due diligence before making any investments.
Documentation is very important when it comes to sale and purchase of property. It not only provides you with the safety net you need to prevent future legal woes but also helps you make informed decisions about your property.
Here are some basic documents to verify and research when buying property:
- The Sale Deed: The sale deed establishes that you have purchased this property within legal parameters and the sellers are legitimate in their part also. The sale deed ensures that the property becomes rightfully yours.
- Occupancy Certificate: This certificate is a must. It ensures that the place you’re buying your property meets all the civic needs such as water, drainage, electricity etc., never buy property that cannot guarantee your basic needs being met.
- Encumbrance Certificate: The Encumbrance Certificate ensures that your property is not tied in any legal bungles, previous mortgages etc., This certificate ensures that your property is a clean slate making the property a worry-free investment.
- The Building Plan: If you’re purchasing a property that’s already built, it is important to buy it with the building plan. You can acquire these from local municipal authorities so you have a clear idea of what you’re investing in.
- Mutation Certificate: The Mutation Certificate clears the property of all tax liabilities when exchanging hands. It makes sure that the new owner is not liable for the taxes of the previous owners.
- RERA: The Real Estate Regulation Act is an act launched by the government to make sure your transactions are transparent and keep you safe from fraud and other issues. Check out https://www.rera.tn.gov.in/ for more information.
Buying property with all these documents is the best way to ensure that you and your investment are protected. You don’t have to worry about any of this with Vibrant, we are here to keep your purchase as seamless as possible.
Do your research before any purchase, it keeps you safe and your property worth the investment.
Buying property is and always will be the best way to ensure your money is spent well. Not only will you be making an investment that will give you returns, it will also be a great way to stabilize yourself financially in the long run.
Buying property is a great idea but you have to do it right. In India, it is a complicated albeit thorough process that needs proper and clear documentation. You need to ensure that you are making the right decisions and we are here to help keep you informed.
Here’s a list of the documentation you need to plunge into the property pool, in India:
- Title Deed: This document ensures that the property you’re buying is clear of any previous encumbrances and clearly states that ownership of the property. So you can buy the right property from the rightful owner.
- Encumbrance Certificate: This certificate needs to be applied for when purchasing a property to ensure that there are no backlogs or longstanding issues in connection to the property. It helps you buy property that is problem free.
- Sale Deed: This document is to be submitted to the sub-registrar in the event of sale, it shows proof of the event and everything it entails.
- Extracts: AKA Pattas are documents that show proof of your property being registered with local municipal bodies and their approved plans. If you’re buying property that’s under Gram Panchayat jurisdiction then you need Mutation Register Extract/ Chitta and Adangal extract. These documents are crucial to being informed of whether what you’re buying is legal and viable property.
- Power of Attorney: This document gives a trusted signatory the power to sign on someone’s behalf in case they are unavailable.
- Master Plan: This is the plan for your property that the builder promises, if you’re buying a house/building. It is important that the facts are true and match the site.
- House Plan Approval: Every property has to be approved before being built. These days you need to build property according to GRIHA (Green Rating for Integrated Habitat Assessment) to make sure your property is eco-friendly and sustains renewable energy resources.
- No Objection Certificates: This certificate ensures that all your loans and the seller’s transference of property rights etc., are approved without glitch.
Make sure to keep all the above documents at the ready when purchasing/selling property. Make good investments and good choices with Vibrant.
Buying property in Tamil Nadu is a lot different than anywhere else. Our land procurement, sale and purchasing records are extremely through and go back as far as possible when it comes to records. If you have been considering buying property in Tamil Nadu for a while, it is near impossible to go without hearing the words Patta or Chitta.
Patta and Chitta are the records that give detailed and verified information about all property in Tamil Nadu. These records have all the necessary information about a property and its owners. It is the proof to show ownership of a property and all its attributes.
What is a Patta?
A Patta AKA the Record of Rights documents is legally issued by the Tamil Nadu government. The document provides important details such as property ownership (Name of the Owner), Survey number and subdivision, type of land (wet/dry), total area of land, and property tax details, patta number, district, taluk and village details.
What is a chitta?
While the patta gives details about the land; the chitta gives information of the land revenue. It specifies the name of the owner, type of land etc., The VAO (Village Administrative Officer and the Taluk Office are incharge of maintaining this document.
What can you find on a Patta and Chitta?
- Land owner’s name
- Survey number of the property
- Survey Number and the Sub-division
- Property dimensions
- Tax details of the property
- Type of Land (Dry or wetland)
- Name of the district, village and taluk of the owner
- Chitta land ownership
- Patta Quantity
If you want to apply for Patta and/or Chitta in the Tamil Nadu Land Records website, you need to have the following documents beforehand:
- A photocopy of the sales deed that needs to be submitted to the Thasildar office
- Electricity Bill or Previous Property Tax receipt to confirm proof of ownership
Patta Migration Process
During purchase/sale pattas are transferred from the sellers’ name to the buyers. Here’s everything you need to make the transfer once the report is approved:
Photocopy of the sales deed
Previous Tax receipts
Water or electricity bill that prove ownership
An affidavit
Encumbrance certificate
How to acquire a Patta or Chitta:
In the modern age, you can get a patta for the property you want to buy online!
Follow these simple steps to get the job done:
Visit: https://eservices.tn.gov.in/eservicesnew/index.html and click on Patta, Chitta or TSLR Extract.
You can then pick out whichever district you’re buying in.
The property listings will be given with their survey and subdivision numbers, the village, block etc.,
After you submit the property details, the Town Survey Land Register will be issued to you, online.
This certificate will give you all the details pertaining to the land and its characteristics.
What documents do you need to get a Chitta?
The Sale Deed: You must send the sale deed along with a copy to either the Tasildhar or the concerned local office.
Possession Proof: You must show proof ownership which can be done with electricity bills, tax receipts you’ve paid against the property and an encumbrance certificate.
If you want to change the name on the patta after purchase, go to the local admin office and fill the forms they ask for.
You also need to give them proof of possession and other documents to prove your ownership.
(This will take 30 days)
Use the government’s quick and easy portal to get started on your investment!
With the rise in real estate investments from every corner in the world, it is important to keep up with the demand. People buy land, houses, buildings etc., for several reasons; from financial stability, profit, investment to migration, status or building/moving to new homes. Whatever the case, the demand for real estate is high and is only going to get higher.
With this uptick in demand, there had been a surge in exploitation and swindling too. People forge documents to sell property to buyers that either isn’t theirs, not as valuable as they claim or simply non-existent. There have been several cases reported against people who fake documents and pass them off as legit and/or profitable.
Don’t let this turn you off from investing, there is a solution!
Pattas are Rights to Record (ROR) that are used to show proof of ownership of all types of land. It is especially important to have these made up for land that is unoccupied or not maintained as often. The lack of usage leads to people poaching the land and passing it off as their own.
You can acquire patta by contacting the local government body and they will send someone to inspect your property or the one you intend to buy. You may be asked to show documents to confirm the ownership/claim and other identifying documents. Then, the thasildhaar will either approve or reject your claim. If you are buying the property you must make the claim to have the property’s ownership be changed accordingly.
It is important to stay on top of this matter until it gets done. It is a long and tedious process but it is very important. Investing in land/property is a great idea but it is just as important to do it right.
When buying, make sure that the patta that the seller shows is legit and have it cross-verified. The patta should claim exactly what the owner claims in terms of land quality, area and size.
Make the best decisions for your future today!
First and foremost, all of your registration must be done according to Section 17 of the Registration Act of 1908.
- Keep all your documents at the ready. You can find the list of documents you need on this page. You must also have identification of self and property specific documentation such as in the case of apartments, a photocopy of Society share certificate and Society Registration Certificate.
- Power of attorney, if need be.
- Hire a lawyer. It is very important to have a legal expert by your side throughout the process.
- Make sure you are ready with everything and have all the necessary copies, ID proofs and payment slips on the day, it is not wise to scramble around on the day off. Registration is a long and tedious task, it is better to get it done as seamlessly as possible.
- These days, you can make payment online. Make sure to pay stamp duty and your registration charges beforehand. You can’t get an appointment with the registrar otherwise.
- TDS should be deducted on property of over 50 lakh rupees.
Listen to your lawyer and make sure you follow procedure. It is always better to be safe than sorry.
In the current economic climate it is extremely difficult to invest money in property. This is why the Pradhan Mantri Awas Yojana (PMAY) was created by the government. This scheme aims to build 20 million affordable housing options by 31 May 2022.
The PMAY is intended to uplift the urban poor and empower them with housing.
Here’s everything you need to know about PMAY and how you can access it:
PMAY: Features and Benefits
- The PMAY was introduced to bridge the gap between the economically disadvantaged and those of wealth.
- The housing scheme has special provisions for minority communities such as Scheduled Caste and Scheduled Tribe, Lower Income Group, widows and the transgender community.
- The scheme also has special provisions for women and senior citizens to access housing in safe places or on the ground floor for easier access.
- You can avail all these benefits upon registration.
- In this scheme it is mandatory to make your spouse or female partner the beneficiary of the property.
How does PMAY work?
You are likely to get subsidies on loan if you fall under the categories that are on the lower financial rungs. These groups will likely be given a percentage of money to pay off the property’s expenses of purchase or construction.
The beneficiaries of this scheme will receive lower interest rates on loans and be given fair treatment regardless of background, gender, caste or creed.
What are the benefits of PMAY?
There are several benefits to this scheme. It was created to help with rehabilitation of slums, and provide subsidies for beneficiary-led individual house construction.
There is also a Credit Linked Subsidy Scheme to help lower income groups secure housing loans.
Beneficiaries Under PMAY Scheme 2021 – 2022
Who can avail the housing benefits of the PMAY scheme?
Middle Income Group (MIG I) – Annual Income of Rs. 6 – 12 lakhs
Middle Income Group (MIG II) – Annual Income of Rs. 12 – 18 lakhs
Low Income Group (LIG) Annual Income capping at Rs. 3 – 6 lakhs
Economically Weaker Section (EWS) Annual Income capping at Rs. 3 lakhs
While EWS are eligible for complete assistance, LIGs and MIGs are eligible only for Credit Linked Subsidy Scheme under PMAY.
The applicant must submit an affidavit to support his income claim for them to be recognized as an LIG or EWS beneficiary under the Scheme.
How to apply for PMAY
A signed application form
Property documents: the allotment letter, NOC from society/builder, deed of sale or sale agreement, etc.
Income proof:
For salaried employees: 6 months’ salary slip, last 6 months’ bank statement, latest form 16, etc.
For self-employed: Balance sheet, profit & loss account, IT returns, computation, etc.
ID proof: Aadhar card, PAN card, driving license, voter ID, etc.
Address proof: Passport, voter card, Aadhar card, rent agreement, or latest utility bill
Find out more details at: https://pmaymis.gov.in/
Buying property in Tamil Nadu has some specific procedure that must be followed. From stamp paper purchase to property registration charges, here’s all the things you need to do once you decide to invest in Tamil Nadu:
After buying your property, even if you have exchanged documents and paid the seller it cannot legally be considered yours unless you have paid stamp duty and registered the property according to Tamil Nadu Government rules. You must also acquire an encumbrance certificate for the property.
Stamp Duty & Property Registration
Stamp duty is the payment you make to buy stamp paper. This is a form of property tax that you must pay in order to legally acquire a property. Property registration is done on these stamp papers at the sub-registrar’s office with a lawyer and with witnesses.
This is an important step in property ownership because it solidifies your claim on the property making it a viable investment. If you fail to register and pay the duty in the given time, your property will drastically lose value.
There will be different charges for stamp duty and registration, depending on the property and the place you’re buying in.
For example: In Chennai, stamp duty is 7% higher value and registration charge 4% higher value. So you’ll have to pay accordingly.
You must do your due diligence before investing. Make sure to contact your lawyer and research the property you’re buying before making any concrete decisions.
Property registration and stamp duty details:
The application fee for getting an encumbrance certificate for any 1 survey number is Rs. 1
Search fee for the first one year is Rs. 30.
After the first year for every additional year the search fee is Rs. 10.
Extra fees in computerized period i.e., from 1987 is Rs. 100.
For getting an encumbrance certificate when there is an urgent requirement for EC in non-computerization period you have to pay double the fee.
- Fees for getting certified copies- Application fee Rs. 1.
- Search fee for first year Rs. 10.
- Computer fees Rs. 100.
- Stamp duty Rs. 20.
In the case of conveyance (sale) or gifting of property, the stamp duty would be 7% of the market value of the property and the registration fee would be 4% of the market value of the property.
In case of exchange of property, the stamp duty would be 7% of the market value of the property with greater value. The registration charges would be 4% of the market value of the property with greater value.
In the case of simple mortgage, the stamp duty would be 1% (on the loan amount) upto a maximum of Rs. 40,000. The registration charge would be 1% on the loan amount upto a maximum of Rs 10,000.
In the case of a mortgage with possession, the stamp duty would be 4% on the loan amount and the registration fee would be 1% subject to a maximum of Rs. 2,00,000.
Stamp paper vendors are to sell the stamp paper at the face value of the stamp and the Sub Registrars, Treasuries, Assistant Superintendent of stamps also provide the stamp paper.
Stamp Paper is also made available at Stamp Sales Depot” at 27, Rajaji Salai, Chennai 600001.
Registration
Once you have fulfilled all these procedures, you must register the property with the sub-registrar office in the jurisdiction of the property as per Registration Act, 1908. Any claim of ownership is void if you do not register your property.
Sale Deed
You must prepare a sale deed with the help of advocates, a chartered accountant who has a license for document writing or licensed document writers.
Choose a person that you trust and can rest assured will produce a document without error.
Property Registration
Properties bought must be registered within 4 months time in Tamil Nadu.
Here’s the complete list of documents you will need to register your property, properly and legally:
- Stamped Signed and duly executed document
- The claimant of the sale document has to appear before the registering officer and sign the sale deed at the time of registering the sale
- There has to be a Patta Transfer application provided along with court fee paid
- PAN card Number
- Patta Passbook
- An ID card to be provided both for the executant as well as the claimant (for all deeds registered)
- An ID card for witnesses if any.
Go over legal procedure with your lawyer to ensure that you have all the necessary documents.
We hope this post helps you with your investments and future endeavors!
RERA (Real Estate Regulatory Authority) is the overseeing body that was established to make real estate purchase and sale transparent and to protect buyers from fraud, delay and misinformation.
RERA was brought to Tamil Nadu as per the act and has a body of its own in the state.
THE FUNCTIONS OF RERA IN TAMIL NADU
- To cater to and empower home buyers by holding stakeholders accountable for things such as deadlines, refunds, quality etc.,
- To create transparency in the real estate market.
- Offer speedy solutions for the concerns raised.
- Foster a regulated and viable environment to promote real estate investments.
- To ensure that projects are executed efficiently and without delay..
- To standardize real estate project parameters across the state.
What RERA can do for you:
DISPUTES
Each state must set up a regulatory body to settle disputes between buyers and real estate developers within 120 days of the complaint being raised.
EXPENSES
70% of the money collected from buyers has to be set aside by the developer in a separate account only for the construction cost of the property and no other purpose. These figures must be audited each year. In case of discrepancies/mismanagement, the developers are required to reimburse homebuyers in full with interest.
REGISTRATION WITH REGULATOR
If the land is over 500 sq.m, or where there are eight or more apartments in the building, the project has to be registered with a regulator before the launch.
DELAYS
Promoters will have several restrictions to ensure that the project is completed on time. In case of delays, the developer will be liable to pay an interest of State Bank of India’s highest marginal cost of lending rate plus 2% within 45 days of due.
CARPET AREA
The carpet area has to be clearly defined including usable spaces like kitchen and toilet. In case of more than a 5% decrease in the carpet area, the customer is entitled to a refund. Interestingly, in case of an increase in carpet area, the buyer will not have to pay any additional amount to the promoter. Buyers only have to pay for the carpet area agreed upon and not for the surplus area. Falsified figures will incur a heavy penalty.
STRUCTURAL DEFECTS
The liability period of developers has been increased to 5 years from the previous 2 years and within this time, they are responsible for clearing all structural defects within 30 days of the matter being brought to notice, free of charge.
CLEARANCES
The project can only be sold after they have gotten the clearance to do so from the RERA body. Doing so before that can lead to penalization.
To ensure that projects are executed in a prompt and efficient manner.
What needs to be registered under RERA?
Any project exceeding 500 sq/mts or projects involving more than 8 apartments should be registered with TNRERA.
In case the project is outside the Chennai Metropolitan Area, the promoter is required to pass details regarding the structural completion to the local planning authorities within 15 days from the date of notification. The Director of Town and Country Planning office must also be informed to exclude the project from the ambit of RERA registration.
RERA makes an exception for affordable housing options and the Tamil Nadu Slum Clearance projects.
You can check the registration of projects on the RERA website:
- Open the TNRERA official website
- Select the ‘registration’ tab to search for projects.
- Select the registered projects tab.
- A portal shall open up showing the information of all projects registered between 2017-present in both Tamilnadu and Andaman and Nicobar Islands (based on your choice of location).
The TNRERA regulations have put a leash on real estate transactions and helped regulate property sale and purchase since 2016. In order to bring trust and accountability to the market and promote credible demand, it has helped protect the interest of all stakeholders in the real estate business.
RERA has helped regulate a part of the economy that so far has been very unorganized and easy to defraud and swindle in. It also holds larger developers accountable on their deadlines and delivery.
Make sure to use this wonderful resource when you invest in property in Tamil Nadu.
How to raise a complaint to RERA:
Download Form M. After filling up the details, you will have to pay an online fee of Rs 1,000 on the TNRERA website.
Submit no less than three copies of details of the complaint which needs to be forwarded to the respondent along with proofs and documents duly attested on all pages. You can send this to the authority as a registered post or you could go to the office.
The copies must reach the office within seven days of filing the complaint online for Tamil Nadu-based cases and within 10 days for Andaman-based cases.
Complaints can be presented by the complainant or by an advocate.
The complainant must also pay a sum of Rs 600 online towards postal charges incurred by the authority.
Vibrant Plots are here to ease your worries of buying new property. Not only are all of our plots legally registered and located in prime locations. We also offer the option of building your home on your new plot of land. Vibrant houses a team of experts in construction and design. If you choose to develop your property we will do everything in our power to make your house the best it can be.
If you believe in Vastu and need your house built according to it, we can do that too.
What is Vastu?
Vastu is the building of your house in harmony with the five elements. It is done to make sure your home radiates the right energy and is a beacon for positivity.
Here are some Vastu tips for when you construct your house:
- The door must face the north, the north-east or the east and be built with quality wood. Make sure the door opens clockwise and is well-lit. Avoid shoe racks, dustbins, fountains and animals outside or near the door or painting it black. The main door must be bigger than the rest of the doors in your house.
- The living room must face either the north, the north-east or the north-west. It is the room with the most activity so it is important to have a positive space. Keep heavy furniture in the west or the south-west. Keep electronics in the south-eat side of the room. If you want to have a mirror in the room, keep it in the north wall.
- The bedroom is the place we unwind and sleep, it is important to keep it balanced. Keep the bedroom in the south-west direction with your head facing west. Avoid the north-east or south-east zone of the house as the first may cause health issues and a bedroom placed in the latter direction may cause disputes/problems in a relationship. Do not put mirrors or TVs in front of the bed, this is supposed to disturb the balance in relationships. Use mood lighting and aromatherapy to keep a calm and cool vibe. Avoid painting with temples, fountains or water in the bedroom, this is known to cause emotional instability. Painting your room neutral and earthy colors keeps the room positive; avoid black walls.
- The kitchen should be in the south-east because that’s where the fire element is strongest. You can keep it in the north-western part of the house too but usually avoiding the north for the kitchen is ideal, as it causes the female members of the family health concerns. Keep sinks and water supply outlets in the north-east, as far from gas supply as possible. Avoid dining tables in the center of the kitchen and rather keep them in the north-west direction. Keep electronic appliances in the south-west.
These are rough ideas of vastu, it is always best to consult your priest and elders.
Good luck with your new house, Vibrant wishes you success and prosperity.
Land is a great resource. It can be used in several ways to help you either monetarily or recreationally.
Here are some ways to use vacant and available land:
- Development: Developing your land with a building company or an engineer is a great way to make your vacant land a paying resource rather than a spending one.
- Farming: You can rent out your land to agricultural experts and let them grow produce and sell them. Farmers are in dire need of our support and this is a great way to help them while also using land that would otherwise waste away.
- Storage: If you have an excess of things in your current place of residence or work, you can use your land to store your things.
- Recreation: You can use your land to camp, throw garden parties or host events with outdoor seating.
Land is a wonderful and versatile resource, the only limit to its usage is your imagination.
