Verify these 5 documents before investing on ready-to-move flats

If are you planned about to invest in a ready-to-move apartment, it’s important to view and get detailed information about the lists of property documents as one must check-in process before considering or stepping to purchase.

In the Real Estate sector, with the act of implementation (Regulation and Development) Act (RERA), buyers are sceptical about investing their amount of investment in projects under construction. Given that incessant project delays have marred the reputation of under-construction projects, demand for ready-to-move flats has increased manifold.

In this prospective deal of huge investment, the buyers should be aware of certain things and the procedures it is important to beware of certain norms while ending their procedure of purchasing decisions. In this step not only does the investor have to furnish complete document details to the authorities and the bank, but if they are applying for a home loan, it also’s important and the rule for the bank to check certain detail is true in proceeding documents to ensure the clear title of ownership.

What are the documents to be checked before buying a ready flat?

There are some important documents that are listed here which must be verified while investing or buying a ready-to-move property:

Sale deed

A sale deed which is a general checklist while verifying the given documents and viewing the details is completely true for your new home. It is the most legal registered document, also it is advisable to read completely the print and check all terms and conditions of the process before signing the deed.

Completion/Occupancy Certificate

A Completion Certificate (CC) is usually issued by the municipal authorities at the end of the final steps of the project. Meanwhile, an Occupancy Certificate (OC) is issued by a local government agency after the completion of the project. Also, it was known to have both these documents while seeking loans from banks and financial institutions or while applying for water and electricity connections.

Building plan

The building plan is the infrastructure view of the property which is considered to be another important document that must be viewed and cross-checked before finalising any purchase of the property. Normally, a building plan is most probably approved by the local municipal authority, also this was known as a site plan, this plan document that contains a blueprint of the property.

Encumbrance certificate

This procedure was considered to be most important to verify whether a property does not have any dues for which a buyer or investor must completely verify and must check the encumbrance certificate. An encumbrance certificate provides evidence that your property has no monetary and legal liabilities

Mutation certificate

Property mutation document which completely identifies the owner of the property in the records of the government and establishes their other procedures of tax liabilities. In this process, the investor or buyers are much advised to seek help from a legal expert for vetting all documents and get known of complete detail before purchasing.