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 Global Legal!