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Uttarakhand is a state in northern India carved out from UttarPradesh in 2000. Uttarakhand is famous for its natural beauty and the view of the Himalayan peaks like Nanda Devi, Nanda Kot, Trishul Complex, etc. Do you agree? Natural beauty attracts many visitors, who wish to own a home here because it is in the middle of nature which makes it the best and the happiest place on the earth. With beautiful scenic views and diverse flora and fauna you will never regret buying property in Uttarakhand but without knowing these things you might end up in trouble. Let’s know what are those things to keep in mind before buying a property in Uttarakhand.
1. Land Measurement
Do you know, In Uttarakhand land is measured in ‘Nali’. So you are going to deal with local seller or local property owner in the unit of Nali. Thus,One Nali is equivalent to 2,160 sq ft.
2- Stamp Duty in Uttarakhand
Stamp Duty is nothing but a tax levied on sale & ownership of property which one needs to pay as per the government norms to their respective state governments. Below is the chart of what you would be paying as per the stamp duty or registry charges before you buy yourself a home in Uttarakhand.
| GENDER | STAMP DUTY RATES | REGISTRATION CHARGES |
|---|---|---|
| MALE | 5% | 2% |
| FEMALE | 3.75% | 2% |
| JOINT (MALE + FEMALE) | 4.37% | 2% |
| JOINT (MALE + MALE) | 5% | 2% |
| JOINT (FEMALE + FEMALE) | 3.75% | 2% |
3-Freehold Property
The concept of freehold of property can be tricky in some states. In Uttarakhand all plotted developments are sold as freehold properties, allowing transfers of the property to be performed easily, with limited paperwork. As a result, new property investors will have an easier and smooth time registering their properties in Uttarakhand.
4-Water Scarcity
Do you know at various locations the state government has banned borewells in Uttarakhand housing which can turn out to be a hurdle in construction as building construction requires major water supply. There are many places in the state that still do not have a regular local body water supply. Hence check before you purchase the land.
5-Scams & Frauds
One should testify the veracity of the land seller and the land documents through the Uttarakhand Land Records Department portal. Also make sure the owners of the neighbouring plot are also present at the site during the measurement of the land accompanies with government officials.