Buying a home or even property is a considerable investment. Even a minute detail can delay your dream possession. The list of documents you need to buy a property is enormous, but let's try and stick to the completely essential documents. Let's have a look at them one by one.
Master Layout/Plan
Before buying any property, the buyer should closely scrutinise the master layout/plan of the area, upcoming project details and projections. Be sure whether these claims would see the light of the day or is just a bogus talk to woo you. These plans can be procured from the local town planning department or some research on the internet can give you the necessary details.
Title of the property
Check the complete lineage to verify from whom the property got transferred. The title search of a property can take place at a Sub-Registrar's office.
Note - A seller cannot transfer his property to a prospective buyer if the title isn't free from any encumbrances. The buyer is entitled to get all title documents of the property.
Mortgage or other claims (Non- encumbrance certificate)
A non-encumbrance certificate defines a mortgage or other existing claims on property or assets of 12-30 years. Property should be free from all encumbrance. Many banks also demand this document for the processing of the home loan.
House layout/Plan Affirmation
It is essential to ensure that the area where the property is located is not violating any laws. Check if the building plan is following the guidelines of the National Building Code of India. The building plan also needs to be under the norms of Green Rating for Integrated Habitat Assessment (GRIHA).
Land Conversion Certificate
Agricultural land can only be repurposed if there is government approval; otherwise, it will be rendered illegal. A conversion certificate will be needed. The town planning department of the concerned city needs to issue a No Objection Certificate (NOC) for the use of agricultural land for non-agricultural purposes.
Commencement Certificate
The commencement certificate is required to begin construction of a property. The town planning department issues it after checking the building on different parameters. This document should be with the builder before starting construction on the site.
Property Tax Receipts
Many people often ignore property taxes, but it is one of the essential documents of any residential or commercial property. Tax receipts should be checked to ensure whether the seller of the property has paid all tax accruing on the property for the past three years to the authorities. Ask the previous owner or the builder for the receipts.
Khata Certificate
Khata (account) is essentially the account of a seller or the owner of the property. An account is essential for buying a property. This is of prime importance for not only transferring ownership but also for the registration of the new property.
The documents change depending on the kind of property you're purchasing. Hence, other certifications like sale deed, completion certificate, occupancy certificate, probated bill, power of attorney, no objection certificate can also be required at the time of buying a property.
Remember, these 8 documents mentioned above are not-negotiable in any property purchase. Invest wisely, keep all the records ready and live worry-free in your new home!
