New Delhi, August 25, 2018: Buying a property is a crucial decision which requires a lot of documentation and paperwork. A little negligence from your end can lead to unwanted issues. Be it a residential apartment, commercial property or an independent bungalow, you need to abide by certain thumb rules for investing in any property. Swadesh Builders BhopalMD—Nitin Agarwal is here to help you with this list of all the important documents required, which includes:
- MOTHER/PARENT DEED
An important legal document required for the property sale agreement. It keeps a record of any change in the ownership of the property, from the time of its construction. It is important to note that the changes recorded in the deed should be continuous. Realtors at Swadesh Builders recommend consulting the registering office in case of any gaps or discrepancies.
- SALE DEED
Sale deed assumes prime importance during the purchase or sale of any property. It is required for attesting the sale of a property from the buyer to the seller.
- COMMENCEMENT CERTIFICATE
Issued by the local authority to the builder, Commencement Certificate is imperative for beginning the construction work at any site. It is only issued for the properties which are under construction. An eviction notice or a number of penalties are levied in case the Commencement Certificate is missing.
- CONVERSION CERTIFICATE
Conversion Certificate is issued for the properties that are included in the agriculture sector. It is required for converting the property into non-agriculture land.
- BUILDING APPROVAL PLAN
Next in the list is the Building Approval Plan, which is consented by the development authorities of a state, after considering various aspects like the permissible dimensions of the building.
- KHATA CERTIFICATE AND EXTRACT
KhataCertificate is needed for registering or transferring a property. It has all the details of a property from the assessment registrant.
- BETTERMENT CHARGES RECEIPT
It is a one-time fees which is paid to the development authorities before issuing of the khata certificate. Industry experts at Swadesh Builders emphasize that it is important to have this receipt while buying a property.
- POWER OF ATTORNEY
Power of Attorney is the written proof of transfer of authority of any property. Any property transaction is incomplete without this document, warn industry experts at Swadesh Builders.
- ENCUMBERENCE CERTIFICATE
A mandatory document used as an evidence of free title/ownership. Encumbrance certificate verifies all the monetary or legal dues against any property.
- COMPLETION CERTIFICATE
The certificate is only for the properties which are already constructed. It states that the property is compliant to all the building and construction rules and regulations.
- OCCUPANCY CERTIFICATE
Occupancy certificate is an evidence that the building abides by the plans approved by the local authority. It is issued when the construction is complete.
- LATEST TAX PAID RECEIPT
Before investing in any property, the buyer needs to ensure that all the dues like date tax, electricity, water and other bills have been cleared by the seller. You can contact your area’s municipal corporation, in case the seller does not has the original copy of latest tax paid receipt.
Corporate Comm India(CCI Newswire)
