To ensure a smooth and hassle-free process, it’s crucial to be well-prepared with the required documentation. In this blog post, we present a comprehensive checklist of documents you need to gather before making your purchase.
1. Sale Agreement: Obtain a copy of the sale agreement between the current owner and the builder/developer, if applicable.
2. Sale Deed: This legal document proves the transfer of ownership from the seller to the buyer. Ensure that the sale deed is executed on a non-judicial stamp paper and duly registered.
3. Mother Deed/Title Deed: The chain of ownership documents that establishes the property’s ownership history. Verify the authenticity of these documents with legal experts.
4. Encumbrance Certificate: This certificate confirms that the property is free from any monetary or legal liabilities such as mortgages or disputes.
5. Property Tax Receipts: Obtain the latest property tax receipts to confirm that the property taxes have been paid up-to-date.
6. NOC from Relevant Authorities: Depending on the property’s location, you might need a No Objection Certificate from the local development authority, society, or other relevant authorities.
7. Approved Building Plan: Ensure that the property’s construction has been approved by the local municipal or planning authority.
8. Possession Certificate: If the property is in a housing society, the possession certificate from the builder or society is essential.
9. Khata Certificate and Extract: These documents verify the property’s entry in the municipal records and confirm that property taxes have been paid.
10. Electricity and Water Bills: Check the latest utility bills to ensure there are no outstanding dues. This also provides evidence of the property’s legal connection to essential utilities.
11. Society Membership Documents: If the property is part of a housing society, gather documents proving your membership.
12. Maintenance Charges Receipts: If applicable, obtain receipts of maintenance charges paid to the housing society or maintenance association.
13. NOC from Societies: If the property is within a cooperative housing society, you might need a No Objection Certificate from the society regarding the property’s sale.
14. Allotment Letter: If you’re purchasing a property from a builder, make sure to collect the original allotment letter.
15. Identity and Address Proof: Provide your PAN card, Aadhar card, passport, or any other accepted identity and address proofs.
16. Power of Attorney (If Applicable): If you’re using a power of attorney for the transaction, ensure that it’s properly executed and registered.
17. Bank NOC (If Applicable): If the property was under a loan, obtain a No Objection Certificate from the bank stating that all dues have been cleared.
18. Mutation Document: This document records the transfer of a property’s title from one person to another.
19. Society Rules and Regulations: If purchasing within a society, familiarize yourself with their rules, as they might have specific regulations.
20. Verification and Search Report: Engage a legal expert to conduct a thorough due diligence process and provide a verification and search report on the property’s title and legal status.
Purchasing a resale property is a significant financial decision, and having all the necessary documents in place is crucial to protect your investment. It’s advisable to consult with legal experts and real estate professionals who can guide you through the process and ensure that you’re making an informed choice. With this comprehensive checklist, you’re well-equipped to embark on your journey to becoming a proud property owner in Telangana, India. Happy home hunting!
