12 IMPORTANT DOCUMENTS TO CHECK BEFORE BUYING A NEW PROPERTY

Property whether being bought for keeps or as an investment should be taken seriously. Dealings in property do not provide any scope for any negligence. Girish Avhad Pune helps you ensure that you are buying what is right!

There are certain thumb rules to be followed while buying a property be it an independent bungalow or the most desirable duplex apartment next door.

Keep these in mind before you take the plunge:

1- MOTHER/PARENT DEED

As the name suggests it is an essential document stating the change in ownership if any of a particular property ever since it's construction. The change in ownership as recorded in the deed should be continuous. In case of any gaps the buyer should consult the registering office for clarity on the same.

2- SALE DEED

This document will attest the sale of the property from buyer to seller. The buyer should seal the sale deed only after thoroughly going through the terms as agreed upon by both the parties.
All the outstanding bills etc should be cleared by the seller as on the date of the deed.

3-COMMENCEMENT CERTIFICATE

This is only for properties that are under construction. Before booking a property in such a case it is wise to ensure that the builder has a certificate by the local authorities to begin construction work at a given site. The absence of which may also result in levying of penalties or in some cases even an eviction notice.

4- CONVERSION CERTIFICATE

This is for properties that come under agriculture sect. In such cases the owner is required to submit the documents required to convert his property from agriculture to non agriculture land.

5- BUILDING APPROVAL PLAN

The development authorities of a state after scrutinizing the permissible dimensions etc of a building grants permission to go ahead with the project. It is very important that a builder gets his building plan approved for a smooth construction as well as selling experience.

6- KHATA CERTIFICATE AND EXTRACT

It is mandatory to obtain a khata certificate to register or transfer a property. Khata extract as the name suggests is to collect the details of a property from the assessment registrant. There are two kinds of khatas. One is A khata and the other is B khata. A has properties legally constructed and having met all the formalities etc. B on the other hand are properties that violate the construction rules in some way. It is better to investigate this about your desired property and go for A khata property.

7- BETTERMENT CHARGES RECEIPT

Also referred to as improvement fees it is a one time fees to be paid to the development authorities before the issuing of a khata. While buying a property don't forget to ask for this receipt.

8- POWER OF ATTORNEY

The owner of the house can either give a special power of  attorney or general power of attorney to the buyer. This attorney is a written proof of transfer of authority of a particular property.

9- ENCUMBERENCE CERTIFICATE

This certificate helps to identify any mortgage  or other transaction made on the property. The copy of sale deed is to be given to obtain an EC.

10- COMPLETION CERTIFICATE

This certificate is only applicable to a property that is already constructed. It signifies that the property in question is in compliance with all the rules and regulations of building construction. Receiving a home loan gets easier with the possession of this certificate.

11- OCCUPANCY CERTIFICATE

As the name suggests this certificate is applied for by the builder once the construction is complete. The authorities thereafter check the state of the property to be moved in and passes it if it meets the stated norms.

12- LATEST TAX PAID RECEIPT

The buyer should make sure that the seller has cleared up to date tax, electricity, water and other bills. If the seller fails to show the original copy the municipal corporation of the area should be contacted to ascertain the same.

Girish Avhad helps you sail through all these formalities and much more with ease. Girish Navnath Avhad is well known for its expertise in property sale purchase and brings you the best always.