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  • What are the documents to check before purchasing property in Bangalore?

    Buying a home can be a complex procedure particularly when the topic of documentation is involved. A defect in any of the documents, or the absence of a particular document, too, could cause a burden for the homebuyer in future. Thus, it is extremely significant to confirm all the documents are in place before purchasing property in Bangalore. This article will illustrate the documentation required to be checked before purchasing property:

    1. Layout approval – Builders or developers often sell properties before obtaining a layout approval. As a buyer, you must ensure that you buy a property/home only after the layout approval is produced by the builder. Purchasing a property without this certificate can be hazardous.
    2. Master plan – Always make sure to check the master plan of the city in which you wish to purchase a property or house. This will help you spotl the inconsistencies in the promises of a builder or developer. The master plan will always display the precise infrastructure around the property in question.
    3. Land records – These are documents that authenticate the land in terms of the pending loans, ownership details, etc. Land records are one of the most vital papers to go through, as this certifies the authenticity of the property.
    4. Land-use certificate – Also called CLU (Change of Land Use), this document must be studied prior to purchasing property. Residential houses cannot be built on commercial spaces, agricultural land, etc., and the CLU will provide you with all the required information about the same. One must ensure to demand the developer/builder to display this certificate or a copy of the CLU in order to guarantee a riskless land purchase.
    5. Occupancy certificate – An occupancy certificate safeguards your land purchase in the sense that it informs you if all the basic amenities like drainage, electricity, water, etc., are in place. Essentially, this certificate certifies that the house or property is habitable to a homebuyer.
    6. Allotment letter – It’s a document that will have to be signed by the builder. This will be performed after the advance has been made on the land purchase. This letter will cover key clauses, payment breakdown, etc. Make sure you obtain this letter as the builder or developer can be punished for not providing the property on time.
    7. No objection certificate (NOC) – No objection certificates are delivered by numerous establishments like safety, electricity, water, etc. It is unlawful to sell a house/property without obtaining an NOC. Before you make any payment towards the property, make certain that your builder has produced the No objection certificate.
    8. Certificate of commencement – It is an obligatory certificate that a builder must obtain to begin any type of construction. This certificate can be obtained by town planning committees and is an extremely significant document to obtain before purchasing property.
    9. Completion certificate – It is a document issued by a municipal board after the project has completed construction.
    10. Builder–Buyer agreement – After an advance payment is made towards the property, the builder will present to you an agreement that involves both the buyer and seller caller buyer-seller agreement. This agreement will comprise specific details and provisions of the property you wish to invest in.
    11. Sale deed registration – This is a document that must be obtained after the project has completed construction. This is considered to be an ownership document and can be obtained from the registrar’s office. This is a vital document and, therefore, is of high importance to go through this document before purchasing a property.
    12. Possession certificate – This is a certificate that will be given to you after you have obtained the sale deed. In other words, this is a certificate that validates the ownership of a property after the individual has physically taken over the property.

    There are a different set of documents for a ready-to-move-in property. These are as mentioned below:

    1. NOC from bank – In case there is a bank loan taken on the house, ensure that you obtain a No objection certificate from the bank. This is a certificate given by the bank that ensures that all dues have been paid by the borrower.
    2. Title deed – In case you are purchasing a ready-to-move-in-property, it is important to obtain the original title deed of the house. This will provide the name of the seller, loan details, etc., and is a certificate that verifies the authenticity of the property.
    3. No-encumbrance certificate – This certificate, too, is one of the most important certificates to go through before making a land purchase. The no encumbrance certificate will warn you about any legal issues that the land may have, or any complaints, etc. In addition, this document will indicate if the property has been sold partially to somebody else. This document is given out for a minimum of 13 years, and a maximum of 30 years.
    4. Possession certificate – This certificate will be provided after the sale deed has been obtained. This is handed over after the homebuyer has obtained physical possession of the property.
    5. Utility bills and tax receipts – Requesting the owner for the utility bills such as electricity bill, telephone bill, etc., along with the tax receipt is a good practise to follow before purchasing a property. This will ensure that there are no fraudulent activities involved. Additionally, one must also ensure that these bills are in the name of the owner.
    6. Change in share certificate – After receiving the sale deed, you are supposed to submit it along with a transfer form that is signed by both, the seller and the buyer. Post this, the society will issue a new certificate with you as the owner.
    7. No objection certificate (NOC) – An NOC or a No objection certificate is given out by different establishments like safety, water, gas, electricity, etc. Selling a property without the NOC is illegal to do. Therefore, one must always make payments towards a property only after inspecting the NOC. If a builder doesn’t have an NOC, it is highly recommended to not invest in that particular property.
    8. Society related documents – If you are purchasing a house in a society, make sure to inspect these documents to validate the authenticity of the house. These documents include occupancy certificate, property card, etc.
    9. Sale deed registration – A sale deed registration is obtained after the project has been completed in all aspects. This will be provided in the registrar’s office and is considered to be the ownership document. This is one of the most important documents that you can possess. Therefore, it is important to obtain this after the purchase of your house.
    10. Share certificate – In case of a cooperative group housing society, they are supposed to provide you with the original copy of this certificate in the name of the owner.

    Following the list mentioned in this article will help you avoid the pitfalls associated with buying a property. Since, it can be a huge investment to acquire a property, taking safety measures are of great importance. This will allow you to make a safe and stress-free purchase, while minimising the risks inherent in such transactions.

      

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