Property Verification

Buying your own property may be a cherished dream, but it doesn’t take much for it to turn into a nightmare. Given that real estate is among our most expensive purchases, landing a lemon can prove to be a financial disaster.

The only way to avoid such a situation is to take time out to conduct due diligence before finalizing any property deal. Of course, a reliable shortcut is to buy into a project that is backed by financial intermediaries like banks.
Here is a checklist of documents that you should peruse before signing on the dotted line:

1. Sale Deed / Title deed / Mother deed / Conveyance Deed

2. RTC Extracts

3. Katha Certificate and Extracts

4. Mutation Register Extracts

5. Joint Development Agreement

6. General Power of Attorney

7. Building plan sanctioned by the Statutory Authority

8. NOC from Electricity Deptt/Pollution Control Board/Water Works/ Air Port Authority

9. Supplementary agreement / Ratification Deed (if any)

10. Allotment Letter from the Builder/Co-Operative Society/Housing Board/BDA.

11. Builder Buyer Agreement – BBA

12. Construction Agreement between Builder & Owner

13. Copy of possession letter from the builder

14. Payment receipts paid towards the builder

15. If any loan on the property (Current or past) / Original Property Documents with Bank

16. Sale agreement with the Seller

17. Latest Tax Paid Receipt till Date of Registration (Property Tax/Municipal Tax etc)

18. Encumbrance Certificate up to date for latest 13 years or from the date of registration till date

19. Demand Letters from the Builder

20. NOC from the Society/Building association

21. No-due certificate from the building association

22. Approved plan of construction/extension & license for construction

23. Conversion order/betterment charges paid receipt

24. Layout approval plan sanction

25. Auction Sale confirmation letter from Local Development Authority

26. Release deed (If applicable)

27. Completion Certificate

28. Occupancy Certificate

29. Loan/Charge/Mortgage by Builder

30. Deed of Declaration

31. Latest Electricity Bill

32. Maintenance Bill or Common Area Bills & Receipts

33. ID & Address proof of Seller. Verify Signature on PAN Card

For detailed Opinion, Contact Our Lawyers at LawWagon!