Are you interested to buy a property in Bangladesh? Now the question is did you check all the important documents? Before buying a property in Bangladesh, it becomes imperative to understand all the requisite documents. shall we, get into the specifics of the legal documents that you need to verify?
Property type & authority under pre-purchase-documentation criteria
- The first thing we will find out is who is responsible for your house maintenance.
- RAJUK leased and Freehold land.
- A full list of areas and segmentation can be found on the RAJUK website.
- Properties may be of two kinds, industrial and residential.
- The knowledge is found in the original act of the land.
- Each category has its own specific rules and regulations.
- A person cannot create a residence in a plot reserved for commercial purposes.
- Taxes and utility services often differ from one type to another.
Rajuk lease deed
- RAJUK offers a 100-year lease of a plot in Dhaka, and official permission is provided by way of a lease. This document is evidence of ownership.
- Before you make any payment, we will bring upon thorough professional ownership cross-checks. Usually, the lease deed includes a 25-year history of the house.
- We will also find the previous owners in chronological order.
- If there are several existing owners of the chosen house, they will be listed separately.
- In addition, this paper includes additional records identifying the adjacent properties and their owners as well.
Rajuk managed property documents
Rajdhani Unnayan Kartripakkha is the only department of the government devoted to capital development. Properties falling under the jurisdiction of RAJUK must obtain approval and permission for any action carried out with or on the property (e.g. purchase/sell/construct, etc.). If RAJUK manages your house, we will review the following legal documents prior to your purchase.
Approved plan section in pre-purchase documentation
Even if the land is assigned to the owner, they will need permission to construct a building on the plot. This must include details on the number of floors, floor size, free space, etc. In short, this guide contains everything you need to know about the development and construction management phase of a property. However, RAJUK will not authorize a building plan without the original contract. You will also get a two-step verification during property ownership.
Freehold properties under pre-purchase-documentation process
Assets that are not owned by RAJUK or others are primarily called freehold properties. Since there is no direct authority for such properties, we review the documents carefully and under governmental regulations and instructions.
This is the key document of ownership of the land, similar to the lease of the property held by RAJUK. The Appointed Land Registry Office shall complete and approve this official document. Although the survey record will provide you with updated details, the Registration Document will validate any claims on the land. Two copies are provided for this document, one for the name bearer and the other for the registry office. Do not worry about authenticity, we will visit the Registration Office and confirm.
The mutation is another official pre-purchase-documentation process. The record in this documents show a successful completion of the registration and recognition of the registry office. Cases may be that the property is registered but is in the process of mutation. Yeah, if the asset has a legitimate license, you need not be worried about authenticity. We will wait until we have a mutation certificate before you accept the transaction.
City survey record
With a fixed period of time, the government of Bangladesh is investigating land ownership in Dhaka. Previous records are refreshed during each survey and new owners are updated in addition to Daag number, Porcha number, etc. As this is a government record, we will be able to verify details about the owner(s) and the property via this paper.
At the end we always recommend a proper pre-purchase-documentation, verification and if necessary updates before the final approach to real estate property investment. Things may get quite complex if you try to hand all these all by your own.
Therefore we suggest you to consult experts who can handle all these on behalf of you. Let the realestates.com.bd be your sole assistance with reliability in the field of pre-purchase procedures as well as the rest journey of your in real estate industry in Bangladesh.