Buying a ready-to-move flat is a big decision, and it’s important to do your due diligence before signing any paperwork. One of the most important things to do is to verify all of the necessary documents.
Here’s a list of the documents you should check before buying a ready-to-move flat:
- Sale deed: The sale deed of ready-to-move flat is the most important document in any property transaction. It is a legal document that transfers the ownership of the property from the seller to the buyer. Make sure that the sale deed is properly registered with the sub-registrar’s office.
- Completion/occupancy certificate: The completion certificate of ready-to-move flat is issued by the municipal authorities once the construction of the building is complete. The occupancy certificate is issued by the local government agency once the building is declared fit for occupation. Make sure that the builder has obtained both of these certificates before you buy the flat.
- Building plan: The building plan of ready-to-move flat is the approved blueprint of the building. It shows the layout of the building, the dimensions of the flats, and the common areas. Make sure that the building has been constructed in accordance with the approved building plan.
- Encumbrance certificate: An encumbrance certificate is a document that shows whether the property has any outstanding dues, such as loans or mortgages. It is important to get an encumbrance certificate before buying the ready-to-move flat to make sure that it is free from any encumbrances.
- Mutation certificate: A mutation certificate is a document that shows the current ownership of the property. It is important to get a mutation certificate after buying the ready-to-move flat to get your name recorded as the owner of the property.
In addition to the above documents, you should also check the following:
- Agreement for sale: The agreement for sale is a legal document that sets out the terms and conditions of the sale. It is important to read the agreement carefully before signing it.
- Power of attorney: If the seller is not able to sign the sale deed in person, they may appoint a power of attorney to do so. Make sure that the power of attorney is properly executed and registered with the sub-registrar’s office.
- No objection certificate (NOC) from the bank: If the seller has taken a loan on the property, they will need to get an NOC from the bank before selling the property. Make sure that the seller has obtained the NOC from the bank before you buy the flat.
It is advisable to consult with a lawyer before buying a ready-to-move flat to ensure that all of the necessary documents are in order and that you are getting a good deal.
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