Buying Ready-To-Move Flats? Here Are The Documents You Must Verify

There are a few documents that you are required to verify before buying a ready-to-move flat like the purchase agreement, Encumbrance certificate, etc. Check this article to know about the important documents while buying a house. 

The documents to verify before buying a ready-to-move flat are essential for every buyer to check provided by the builder or the broker. 

Few permissions and documents are required for every builder before they can sell their flats in the market. Let’s check the list of required documents. 

Documents To Verify Before Buying A Flat

• Title Deed: The first step to check verify the property is to know whether the builder already owns the property or not or whether they can sell the property in the market or not. You can demand the check the original title deed and not the copied one. You can also do a lawyer check for this property title to know whether there are any other owners of the property. 
• Intimation of disapproval (IOD): This document is the set of permissions that the developer has to gather at different levels of competition of construction. NOC (No Objection Certificate) from different authorities like the Drain Department, Storm Water, Sewage Department, Forest Department and etc. for building a well-developed flat. 
• Commencement certificate (CC): This document should be collected from the local authorities by the developer. This certificate will legally allow the developer to complete the project. If this certificate is not collected then, the project will be held illegal.  
• Encumbrance certificate (EC): The builder will collect this certificate from the sub-registrar’s office which will state whether the project has any legal liability or pending litigation on it. The data will include the previous 30 years’ information. 
• Approved layout plans: This plan is approved by the appropriate planning authorities. This is important to keep a check on the pre-planned layout as builders tend to deviate from the layout. 
• Purchase agreement: This certificate is important to note whether the builder is providing everything you were promised. The builder is legally responsible for providing the service when it is stated in a written agreement. This agreement will include the number of apartments, payment terms, the deadline and etc. This agreement also states that whenever a buyer purchases any plot, the right will remain with the buyer. Hence, the builder cannot interfere with that plot anymore. 
• Occupancy certificate (OC): This certificate is issued by the local authorities and states that the property was constructed taking proper permissions. During the time of collecting this certificate, the builder ensures that the necessary facilities are provided to the residents. This includes a water facility, sewage system, and electrical connections.  

List Of Documents Needed To Buy A House

It is a dream for many to buy a flat in their desired location and their desired number of rooms and favorite amenities. Hence, taking a conscious decision and also verifying every document is necessary before the transaction. 

Buying a flat would require a lot of important documents from the developer to be shown to the buyer and required to be submitted. These documents will ensure that the buyer has complete possession of the flat now. 

• Sale deed: It is a very important legal document that is important to state whether the property is transferred to the buyer from the builder or not. In case, the buyer wants to sell the property, then this document will be required at the time. The sale deed is made after the conditions of the sale agreement are fulfilled. 
• Mother deed: This document is important for tracing the owners of the property. This Agreement is required to be submitted to the bank while applying for a loan to buy the property. The buyer can take this document from the local authorities. 
• Sale and purchase agreement: This agreement includes the terms and conditions agreed by both parties. The price quoted and finalized is also stated in this agreement for eliminating further confusion. 
• Building approval plan: A builder has to take permission for different provisions like building bylaws, the local body acts, and master plans. Home buyers have to check whether these permissions are available with the builder or not. These permissions checks for only two segments, the Layout Approval, and the building plan.    
• Possession letter: This letter is provided by the builder to the buyer of the property after the receipt of the Completion Certificate. In this letter, the builder states that they are transferring the possession of the property to the buyer. 
• Completion certificate: This certificate states that the project has followed all the rules and laws of the local authority or the municipal corporation. This statement is provided only after inspecting the completion of the project. It is advised to the first-time home buyers that they check this certificate before they buy the property.
• Khata certificate: This certificate is basically a revenue document that contains the details of the property for paying the property taxes. This acts as the form of identification of the owner which will be important while applying for a home loan or during selling the property.  
• Allotment letter: This letter is crucial when you are planning to book an apartment when it is under construction. This letter will include the information on the amount paid to the developer and any extra amount required to be paid in the future. This letter is also important when applying for a loan to buy the property. 

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