Mrs. Reshma Hajite Director - Sales & Marketing Excellence Shelters Pvt. Ltd. Interview On Akashwani 101 On "Plot Che Pardarshi Vyavhar" Will Be Broadcasted Every Monday 10:30 Am And Friday 9:30 Am.

Here Is The Third Episode English Transcription On "The Role Of 7/12 Document In Buying Or Selling The Land".

For The Guidance On Transparent Land Dealings Kindly Contact Mrs. Reshma Hajite –+91-83088 16587.

Anchor: Greetings To All Our Listeners. I Chitra Khare Welcome You All Once Again For Our Brand New Episode Of “Transparent And Clear Plot Transactions”, Presented By Excellence Shelters Pvt. Ltd.

In This Program We Are Discussing All Types Of Plot Dealing Be It Buying Or Selling The Plot Or Even Buying A Plot For Residential Purpose And The Legal Care And Other Care That We Need To Take While Doing These Dealings. To Discuss And Guide Us About These Dealings We Have With Us One Of The Directors Of Excellence Shelters Mrs. Reshma Hajite.

Anchor: Greetings Madam

Reshma: Greetings Chitra

Anchor: Last Time We Discussed Land Investment Being Considered As Midterm Or Long Term Investment And We Have Also Started Getting Queries For The Same. Mr. Pradeep Raote Is Keen On Knowing The Role Of 7/12 Document In Buying Or Selling The Land.

Reshma: Mr. Pradeep When We Consider Any Document Like 7/12 It Basically Specifies The Current Owner Of The Land And The Type Of Land As We Had Discussed In Last Episode Whether It Is An Agricultural Land Or A Non Agricultural Land. If It Is An Agricultural Land What It Also Specifies Which Harvest We Can Grow On It? At Times It Is Also Possible That The Land Is Been Bought In The Family And Is Divided Between Siblings. In Such Cases It 7/12 Documents Specifies The Amount Of Share That Is Distributed To Each Sibling. Now A Days A Lot Of These 7/12 Documents Are Available Online As Well And It A Great Initiative Started By The Government To Create Transparency So We Can Visit Website And Look For All The Information On The Website. If You Put The Gat No. Or Survey No. On Website You Can Get All The Recent 7/12 Updated Information Of The Plot That You Are Looking For.

Anchor: So All This Information Is Also Available Online Now?

Reshma: Right 7/12 Is The First Document That We Need To Check And If Really Want To Proceed With The Deal Next We Need To Check Is The Search Title. The Search Title Helps Us Understand The History Of The Land. Like If Someone’s Defaulted Something Or If There Is Some Loan Pending On That Piece Of Land. Some Of These Things Can Be Understood From The 7/12 But The Detailed Report Like Which Bank It, Who Had Taken The Loan, Etc Can Found In The Search Title.

Anchor: The Next Question Is From Mr. Nikhil Form Vimannagar Who Want To Know About CRISIL And What Exactly CRISIL Rating Is As He Came Across This Term While He Was Doing A Survey To Buy Land For Himself.

Reshma: CRISIL Is An Organization That Is Gives Ratings To The Real Estate Projects. It Is Like We Have Finance Rating, Education Rating Now We Also Have Real Estate Specific Ratings. There Is A Third Party Audit That Takes Place And The Rating Is Done Based On 5 Parameters And Then The Project Is Rated. The First Parameter Is The Developer- Who Is The Developer, His Work Track Record, How Many Projects Have Been Delivered Till Dated, Quality Of His Work, Customer Satisfaction, Etc. A Team Is Allocated To Do These Analysis Who Analysis The Balance Sheet Of The Developer As Well. The Second Parameter Is The Legal Parameter Of The Project Where They Check All The Legal Documents Of The Project Including The Search Title And Then They Approve. The Third Parameter Is Innovation- What New Or Innovative Are You Delivering In That Project Apart From Your Competitor Which Will Help You Boost Your Sale And How Confident Are You About The Same. The Fourth Parameter Is The Development Quality- What Type Of Development Are You Providing, What Are You Deadlines For The Completion And The CRISIL Team Is Always Monitoring The Project To Check The Fulfillment Of The Commitment. Lastly The Fifth And The Most Important Parameter Is The Financial Quality Of The Project- The Amount Of Funding That Has Been Provided To The Project, The Development Cost And The Banking Capacity Of The Project From The Market I.e. If The Project Is Viable To Get Loan Approvals From Different Banks And The Financial Capacity Of The Developer Is Checked. The Rating Is Done From 1 Star To 7 Stars Rankings. Hence The 5 Stars Is A Middle Ranking.

Anchor: We Would Like To Discuss This Further But Due To Time Constrain We Will Have To Cut It Short For Today And For Any Details And Queries Do Call, Message Or Whatsapp Us On +91-83088 16587.

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