Due Diligence & Registration

Due Diligence is a critical process that involves careful investigation and analysis before entering into any agreement, contract, or transaction. It ensures that all parties involved understand the risks, benefits, and obligations, allowing for informed decision-making. Due Diligence requires a thorough exercise of caution, and it is the reasonable standard of care expected before committing to any legal or financial arrangement.

In the real estate sector, due Diligence plays a crucial role. It involves verifying the ownership and legal status of the property, confirming that there are no disputes or encumbrances, and ensuring compliance with zoning laws, building codes, and any other regulatory requirements. This process can involve a wide range of checks, including but not limited to:

• Property Title Verification: Ensuring the seller has the legal right to sell the property and that the title is free of disputes or claims.
• Land Use and Zoning: Confirming that the property is zoned for the intended use, whether residential, commercial, or otherwise, and ensuring no zoning violations.
• Environmental Checks: Investigate whether the property complies with environmental regulations and check for any potential environmental issues, such as contamination.
• Legal Compliance: Review the property’s legal history, including prior ownerships, permissions, and any ongoing litigations.

While due Diligence can sometimes be a legal requirement in certain transactions, in many cases, it is a voluntary but essential step to mitigate risks. For instance, before acquiring land or property in Goa, investors or buyers must conduct thorough research to ensure that the property is legitimate, free of issues, and aligned with their plans.

After completing due Diligence and ensuring that all conditions are satisfied, the next step in the process is Registration.

Property Registration is the formal process of recording the ownership of a property with the government. This step is crucial for transferring the legal title of a property from one party to another. It ensures that the buyer’s ownership is legally recognized and protected under the law. Registration provides security for the buyer, as it acts as proof of ownership and creates a public record of the transaction.

In Goa, property registration follows a legal procedure which includes the following:

• Execution of Sale Deed: The buyer and seller must execute a sale deed, which outlines the terms and conditions of the sale, including the agreed price, payment terms, and property details.
• Stamp Duty Payment: The applicable stamp duty must be paid on the sale deed as per the prevailing rates.
• Registration at Sub-Registrar’s Office: Both parties need to visit the Sub-Registrar’s office to register the sale deed. The document is signed by both parties in the presence of the Registrar, and the transaction is formally recorded.
• Handover of Possession: After registration, the possession of the property is handed over to the buyer, marking the completion of the transaction.

At Window Shop Goa, we guide you through the entire due Diligence and registration process, ensuring that every step is completed thoroughly and efficiently. We assist in conducting all necessary investigations, providing clarity and transparency throughout, and ensuring the legal registration of your property, whether you're buying or selling. Our goal is to protect your interests and ensure that your real estate investment is secure and compliant with all legal requirements.