Dear Client,
Yes, it is very important to download the index of charges for the builder, Sobha Limited, from the Registrar of Companies. It shows details on any claims or legal liens on the builder’s property that include the under-construction flat that you are planning to purchase. This assists in establishing that you are unaware of any pending legal or financial issues that may hinder your ability to own the property.
Interpreting the Index of Charges involves checking:
Whether there are any liabilities, such as loans or mortgages, that are still possibly owed against the builder’s property.
If there are several charges, their sequence as well as the priority of the charges are mentioned. to make sure the particular project is not rendering the flat a security.
If the index includes existing charges, then it is very crucial to confirm that the mentioned charges will be dropped at the time of payment only. It is important to do this so that if any legal or financial problems occur in the future, they can be addressed before it’s too late.