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Buyer CheckList

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Buyer's Check-list: Documents you should check before buying, while buying & after buying

Here is a list of documents that you may check before buying a property:

  • Land titles/construction permits/approvals from authorities
  • Title clearance certificate
  • Society clearance and membership
  • Details of payment of property tax and other charges, bills, etc.
  • Sale agreement
  • Stamp duty and registration
  • Taking possession of the flat

The details for each of the above documents are described below:

1. Land titles/ Construction permits/ Approvals from authorities

  • Ownership of land in favor of the builder
  • Conveyance of property in favor of the society
  • Urban Land Ceiling and Regulation Act clearance certificate, if applicable
  • Power of Attorney executed by the landlord in favor of the developer in case it is joint development between landlord and developer
  • Permission to use land for non agricultural purpose
  • Original plan approved by municipal authorities (total area, number of floors, etc.)
  • Commencement Certificate issued by municipal authorities permitting the developer to begin construction
  • Occupation Certificate issued by authorities certifying that the building is complete and fit for occupation.

2. Title clearance certificate

Obtain a title clearance certificate from the advocate certifying that the property intended for purchase is unencumbered and has a clear marketable title.

3. Society clearance and membership, if buying property in a society

  • No objection from society for transfer and sale of flat
  • Payment of necessary transfer charges to the society
  • Obtain the share certificate from society duly transferred in the name of the buyer.

4. Details of payment of property tax and other charges

Ensure that the seller was paying due property tax and other bills of the local development/municipal authority up to the date of registration of the sold property. You can get the certified copies stating the payment of property tax, water tax, water charges and electricity charges from the sub-registrars' offices in your city.

5. Sale Agreement

While signing sale agreement/deed and taking possession, ensure the following:

  • The serial number of flat/floor is clearly indicated in the agreement.
  • The carpet area/built-up area and purchase consideration of property is clearly stated.
  • The floor plan of the specified property is annexed with the agreement.
  • Ensure that all the amenities (type of construction, floorings, doors, windows, sanitary, water supply, electrical fittings, etc.) are clearly specified.
  • The sale amount is clearly mentioned.
  • The agreement is duly stamped and signed and lays down the payment schedule.
  • The seller should provide the original stamped receipts and previous sale/conveyance deed in case of resale properties.

6. Stamp duty and registration

  • The stamp duty is payable on the agreement value of the property or the market value, whichever is higher.
  • The agreement is to be registered with the sub-registrar under the provisions of the Indian Registration Act within a period of four months from the date of its execution.

7. Taking possession of the flat

  • Ensure that you receive vacant and peaceful possession of the flat on the date specified in the agreement.
  • Check if there is any provision in the agreement for refund of the amounts due by the builder/seller in case the seller fails to give possession of the property by the stipulated date or mutually agreed extended date.
  • Inspect the flat with the amenities stated in the agreement and ensure that there is running supply of electricity and water in the premises.

Source: National Housing Bank

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