Real estate documents

Real estate documents you should have in order

You might think finding the right property is the hardest thing to do. We agree that this crucial step is by far one of the most difficult things to do. Unfortunately, you are not out of the woods yet. Although, zooming in on your dream home definitely gets the ball rolling, buying a property is a documentation-heavy process. We say that because of the complex legal, regulatory and statutory nature of these documents.

According to sources, around 80% of the property buyers do not get all the property documents at the time of purchase. The property buyers in this case face many issues when trying to sell the property. One of the primary reasons why property buyers face this issue is lack of awareness. Most buyers and sellers are not aware of property documents that need to be in place for a sale to go through. Some of these documents are generic and are applicable in all States. However, you might need to have extra documentation over and above these generic documents.

Here’s a checklist of documents required for buying a new property or a resale. Additional documents may be required depending on the rules specified by the State.

  • Sale Deed (otherwise known as Title deed, Mother deed or Conveyance deed)
  • RTC Extracts
  • Khata Certificates and Extracts
  • Mutation Registration Extracts
  • General Power of Attorney
  • Joint Development Agreement
  • Building Plan sanctioned by the Statutory Authority
  • NOC from Electricity Department/Airport Authority/Pollution Control Board/Water Works
  • Supplementary agreement/Ratification deed (if any)
  • Allotment letter from the Builder/BDA/Co-Operative Society/Housing Board
  • Sale Agreement between Builder and First Owner (for resale)
  • Construction Agreement between Builder and First Owner (for resale)
  • Payment receipts paid towards builder
  • Copy of possession letter from the builder
  • Loan on property (present or past)/Original documents from the bank (if the loan is ongoing – applicable for resale only)
  • Receipts of tax paid in case of property resale (Property Tax/Municipality Tax)
  • Encumbrance Certificate (EC) up to date for the last 13 years or from the date of first registration
  • Demand letter from vendor before disbursement
  • Receipt of own contribution (down-payment/deposit for the purchase of property)
  • NOC from Society/Building Association (for resale)
  • No-Dues from Building Association (for resale)
  • Approved plan of construction/license/extension
  • Detailed cost estimation/valuation report from Chartered Engineer/Architect (if applicable)
  • Sanctioned layout approval plan
  • Conversion order/betterment charges paid receipt
  • Release deed (if applicable)
  • Auction sale confirmation letter from local development authority (if applicable)
  • Completion Certificate
  • Occupancy Certificate
  • Loan/Mortgage/Charge by builder
  • Deed of declaration
  • Latest electricity bill (for resale)

Among the list of documents you see listed here, Sale Deed is one of the most important documents you will need whether this is a new property or a resale. A Sale Deed is a proof of sale or transfer of ownership.

The checklist covers the most basic documents you will need in place when buying a new property or purchasing a resale. Creating and maintaining a checklist will help you ensure that all documents are in place at the time of registration. Always remember to check these documents with a property lawyer before signing any document.

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