Hyderabad, Sept. 13: Homebuyers should verify the land beneath an apartment before making a property investment, said Harshavardhan Reddy, CEO and Founder of HRCS India.
He made the remarks during a free webinar organised by HRCS India on Saturday.
Reddy said buyers should independently check property records instead of relying only on assurances from sellers or developers.
He highlighted concerns linked to HYDRAA, lake FTL and buffer zones, and Section 22 A properties in Hyderabad.
Homebuyers Property Verification Gains Importance in Hyderabad
Reddy said a property may appear safe while its title, survey details or legal status could create problems later.
He urged buyers to verify five key aspects before committing their money.
First, buyers should confirm legal ownership and check the complete title chain.
They should also examine encumbrances, pending litigation and the seller’s right to transfer the property.
Second, buyers should verify the status of the land beneath the property.
This includes checking the survey number, subdivision, land use and revenue records.
Where applicable, buyers should also examine FTL, buffer zone, government land and nala-related issues.
Third, buyers should confirm all required approvals and registrations.
These may include sanctioned plans, permissions and applicable RERA registration.
Fourth, buyers should understand exactly what they are paying for.
They should check carpet area, total consideration, parking, amenities, maintenance and registration charges.
Finally, buyers should examine possession, cancellation, refund and construction terms before signing an agreement.
Industry estimates suggest Hyderabad records around 38,000 to 45,000 new residential sales each year.
That translates to roughly 3,200 to 3,750 new home purchases every month.
Including resale transactions, the annual number of registered residential property deals could reach around 75,000.
Reddy said the large number of developers and projects makes independent property verification important for buyers.
He said buyers should not assume that an older sale deed or building permission removes all potential risks.
He also cautioned that previous purchases by other buyers do not automatically establish that a property is risk free.
Reddy said buyers should independently check titles, survey numbers, land status, approvals and encumbrances.
The webinar also discussed concerns surrounding lake FTL and buffer zones, nala encroachments and Section 22 A properties.
HRCS India said these issues have increased the need for greater awareness among prospective homebuyers.
The organisation aims to conduct similar knowledge sharing initiatives in Telangana and Karnataka.
It plans to focus particularly on homebuyers in Hyderabad and Bengaluru.
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