One might think that money is the most important thing to have while buying a property. To their surprise, money is not the only essential thing. Yes, it is definitely required but a whole lot of documents are the most essential element while buying a new property. Property transfer process months even after you have made the investment. Following are the list of documents required to complete the transfer of ownership of property to your name:
1. AGREEMENT TO SELL
The very first document containing the terms and conditions of sale.
2. ABSOLUTE SALE DEED OR TITLE DEED
Sale deed or Title Deed. This is registered at Sub-registrar's office under property's jurisdiction.
3. TITLE SEARCH AND REPORT
Title Search is the process of recovering the documents relating to the previous owners or if they are registered with the concerned authority. This document is most essential during the procurement of home loan.
4. KHATA CERTIFICATE (PATTA / MUTATION RECORD)
It is the proof of the property of entry to the local municipal department and is one of the most essential documents during the purchase of training courses.
5. RECEIPT OF PROPERTY TAX
It is a document which has been paid by the previous owner. If due taxes are not paid, then the transfer of property can not happen. So, receipt of property taxes as one of the most important documents to have.
6. ENCUMBRANCE CERTIFICATE
This document is of the origin of the loan.
7. OCCUPANCY CERTIFICATE
An OC is issued by the municipal corporation establishing the building has been constructed and has been constructed.
Few other essential documents required during the purchase of property:
8. Statement from bank if loan outstanding
9. Non-objection certificates
10. Power of Attorney / s, if any
While buying a property from a republished builder, the buyer is informed and instructed about the essential documents to have, which helps in fixing the overall buying process. Do check out housing projects by Hiranandani properties and start your new life with ease and convenience.