A Buyer’s Guide to Essential Documents for Purchasing a Flat

Buying a house is an important milestone for a lot of people, sometimes having to do with several years of hard work and savings. But to make things a little simpler for you, we have listed down all the necessary documents so that you can purchase your new home without any hassle. Let us have a look at some of the most important documents for buying a house in India.

Sale Deed

A sale deed: is a crucial lawful document that officially moves the ownership of the property from the seller to the buyer. This document is instrumental for future transactions and, therefore, it is a must for first-time homebuyers to find and protect it.

Mother Deed

In the list of documents to check before buying a flat, the Mother Deed traces the ownership history of the property. This document is usually given by government officials and frequently required by money lending institutions in case you are borrowing money.

Sale and Purchase Agreement

This contract clarifies the conditions and standards that both the buyer and seller set up, which include the price of the property and the payment plan. The transaction stays transparent and accountable.

Building Approval Plan

Before the plans of the building are put into action, the developers have to get all the set licences from the local government. They are Building Plan and Layout Approval certificates, which make sure that all the regulations are strictly followed. It’s crucial to verify these documents to avoid future legal issues.

Possession Letter

The Possession Letter indicates the date you can take possession of the property. It’s typically issued after receiving the Completion Certificate and is necessary for loan processing.

Completion Certificate

A Completion Certificate is a document that states the construction procedures of a building were done as per the approved plans. This Certificate is necessary to be able to avail of such facilities like water and electricity.

Khata Certificate

The Khata Certificate is one of the important documents while buying property. It is a revenue document that provides details about the property, such as its size and location. It’s necessary for paying property taxes and is required for home loans.

Allotment Letter

If you’re purchasing an under-construction flat, the Allotment Letter details the payment structure and any additional fees. This document is essential for loan applications.

Encumbrance Certificate

One of the important documents to check before buying a house, this certificate is the proof that the property is clear of any legal dues or mortgages. This is a document that banks cannot do without during the loan approval process.

Payment and Property Tax Receipts

Keep original payment receipts from the developer and ensure that the previous owner has cleared all property tax dues. This prevents future disputes and legal issues.

Conclusion

When you buy a flat, you need to know what documents are required for buying a flat to protect your ownership rights. Every document has its use and ensures a smooth process while buying. Getting your documents straight is equally important as finding the right home. For the latter, you can consider exploring the luxurious flats at Forestville by Oberoi Realty that offers many facilities to its residents and ensure a comfortable living experience.