For most of the foreigners, looking to purchase property in different cities of India has been a source of much confusion over the years. One of the biggest misconceptions is that buying Properties in Greater Noida can be a long drawn out process with the risk of losing ownership an ever-present threat. While we are not saying that buying Properties in Greater Noida is a walk in the park, keeping in mind a few important things will help you get through the specified process as smoothly and as safely as possible. The idea that purchasing Properties in Ghaziabad is difficult probably stems from several years ago, when foreign buyers were not allowed to purchase those Properties in Ghaziabad that fell within the so-called ‘Restricted Zone’. Specified area covers all land that is within 100 kilometers of the country’s natural borders, 50 kilometers within all coastlines, and certain parts of Noida. ATS Destinaire Resale Price / ATS Floral Pathways Resale Price / ATS Knightsbridge Resale Price / ABA Ivy County
Things have changed a lot however and the Indian government has since liberalized property ownership laws, allowing foreign buyers to purchase Properties in Faridabad even within the restricted zone. With these policy changes, buying Properties in Faridabad is not only possible but it is also easier and safer than ever. The two most important things to consider when purchasing Properties in Gurugram is a title insurance policy and a bank trust or agency. A title insurance policy is simply a contract between the purchaser-or lender-and a title guarantor that protects the lender or owner against loss in case of a dispute in ownership for Properties in Gurugram. Many reputable real estate companies will offer options for a title insurance policy when you purchase Properties in Gurugram.
A financial trust or agency on the other side is a contract between the lender-in this case the Indian bank-and the property buyer. The lender in effect acts as a trustee for the buyer, and they are under legal obligation to follow all the instructions of the buyer pertaining to the property in question. Meanwhile the lender keeps the actual title to the property, the buyer gets to enjoy all the rights and privileges of ownership, including assigning other beneficiaries and even transferring ownership if he so wishes. As stated before a agency generally lasts for a maximum period of 50 years and can be renewed after this period is up. There are few more things to keep in mind when planning to purchase property in any part of India. However if you are in possession of these two important documents, you should be well protected against any risk.
