Documents Required To Buy A Property
First step after selecting property is find an answer of the question documents required to buy property.
Probably most of the buyers don’t get documents right. Even more not having complete documents property owner or buyer leads to struggle on the
time of selling of property. In fact, most of the buyers and sellers are not aware of each paper or document. It plays an important role in
purchasing process, as original or not and sometime requirement of documents varies from case to case in each state.
There is list which might be considered as checklist of document required to buy property.
Sales Deed (Tittle deed/Mother deed/Conveyance deed)
This is main legal document required which admit the ownership of any property. Above all it refers the transfer (Purchase) of ownership
in favour of buyer from seller. For the reason that it’s called legal proof for ownership of property.
- Property Buy
Khata Certificate and Extracts
Khata is an account registration as record in local municipal office to confirm construction of property , finally as approved plan.
There is two kind of Khata as below
Certificate– It is mandatory document for registration of new property after paying all taxes. Therefore Khata certificate will need to be present as name mentioned as owner of the property only. Hence not for any member of family.
Extracts– This is another document, refers as detail of property as registered format contains name, size, purpose of property (residential/commercial), assessment land.
- Property Buy
- Home Loan Possession Letter
These documents buyers need to have , with a set of date when possession would have handed over from developer. Therefore original copy of this document need to be in front of bank while applying for loan.
Property Tax Receipts
The owner has legal bound to pay tax on property. Similarly that’s why owner make to ensure about none of tax pending should be with concern property before purchasing it . Also tax receipts also considered as legal ownership of property.
The documents required if anyone is buying new property so ask original receipt and if the property on resale ask for copy of receipt.
Certainly local authority ask developer to make sure that property is finally ready to handover as a result of sanctioned plan.
This document shows that no pending mortgage or legal due with property . It is one of the key documents which is mandatory for loan approval for the property also . Form 15 need to have when property is in encumbrance and even that Form 16 need to have when no encumbrance with property.
Finally , this document admits construction of the project is according to approved plan and need to come in front of the bank when applying for home loan.
Other Documents Required To :
Building plan sanctioned by statutory authority
Most noteworthy , NOC from electricity /pollution department board
- First of all building plan sanctioned by statutory authority
- NOC from electricity /pollution department board
- Supplementary agreement/ Rectification deed
- Allotment Letter
- Sales agreement between seller and owner
- Finally Construction agreement
- Demand letter from vendor before disbursement
- Own contribution receipt along with the bank statement
- NOC from Society/building associate
- Valuation report from charted engineers/architect
- Approved plan of construction/extension & license for construction
- Conversion order/Betterment Charges paid receipt
- Sanctioned layout approval
- Deed of declaration
- Latest electricity bill