HOW TO BUY HOUSE IN KATIHAR…

To buy a house in Katihar, Bihar, you can follow these steps:

1. Research the Local Real Estate Market:

• Online Portals: Check popular real estate websites such as 99acres, MagicBricks, or Housing.com to view available properties in Katihar.
• Local Brokers: You can also consult local real estate agents who have knowledge of the area and may help you find properties that are not listed online.
• Word of Mouth: In smaller towns like Katihar, properties may also be advertised through local contacts or word of mouth.

2. Determine Your Budget:

• Estimate how much you are willing to spend on the house, including the property price, registration fees, and any potential renovation costs.
• Home Loan: If you’re planning to take a home loan, check with banks like SBI, HDFC, or ICICI for eligibility and interest rates.

3. Legal Verification of the Property:

• Ensure the property has a clear title and there are no legal disputes or encumbrances on it.
• Verify the ownership documents and make sure the seller has the right to sell the property.
• Check Property Documents: Ask for property documents like the sale deed, mutation certificate, and approved building plan.

4. Site Visit:

• Visit the property personally to assess its condition, location, and amenities like water, electricity, and proximity to markets, schools, and hospitals.

5. Negotiate the Price:

• Once you find a property, negotiate the price with the seller or broker. In small towns, there might be some flexibility in the pricing.

6. Hire a Lawyer:

• It’s advisable to consult a lawyer who specializes in property transactions. They will help you with due diligence, verify legal documents, and draft the sale agreement.

7. Sale Agreement:

• Once the terms are settled, both parties will sign a sale agreement, which will outline the final price, payment schedule, and other conditions.

8. Payment and Registration:

• Complete the payment as agreed. Then, register the property at the local Sub-Registrar’s Office. This is where you’ll pay the necessary stamp duty and registration fees, which could vary between 5% and 8% of the property’s value.
• Once the registration is done, the property is legally transferred to you.

9. Mutation of the Property:

• After purchasing, you need to get the property mutated in your name at the local municipal office, ensuring that the property tax records are updated in your name.

Following these steps should guide you through the process of buying a house in Katihar.