What types of documents are needed to purchase a property?

Buying a house or plot requires a significant financial and emotional commitment on your part as a buyer especially if you are a first-time homeowner. So no matter how time-consuming the process of obtaining and verifying legal papers is, keep in mind that they secure lawful and safe ownership. To assist you, we have included a list of property paperwork needed to buy a property.

Sale Deed

The Sale Deed is an important legal document that records the sale and transfer of property from the builder to the customer. If you intend to sell the home in the future, this agreement is quite important. It is executed when the selling agreement’s terms and conditions have been met.

Mother Deed

One of the most important papers needed for a land acquisition is a mother deed, which proves the property’s original ownership and shows the following transfers and transactions in chronological order. The Mother Deed, also known as a parent document, subsequent transfers in a series during the transactions that validate new ownerships.

Agreement for Sale and Purchase

The terms and conditions that the buyer and seller have agreed upon are outlined in this contract. It contains specifics like the agreed-upon price and other important conditions.

Power of Attorney

A necessary legal paper required for the acquisition of a property is the Power of Attorney (PoA) that gives the person the legal right to take decision on the owner’s behalf. It records the transfer of property rights and allows the person to sell the property in place of the original owner. There are two types of PoAs that are required by ownership in order to purchase property: Special Power of Attorney (SPA) and General Power of Attorney (GPA).

Building Approval Plan

The necessary approvals must be obtained by builders prior to beginning work. This covers the Building Plan and Layout Approval approvals. To prevent future legal problems, it is essential to make sure that these approvals are followed.

Khata Extract or Certificate

One of the most important legal papers needed to buy a plot is a Khata certificate, sometimes called a Patta, Chitta, or Dangal. It is given when a property has been evaluated and has received the necessary approvals and certifications from the local government. In addition to having details like the property’s size, number, demarcations, location, built-up area, etc., it is registered in the name of the principal owner, who also pays taxes on it. Purchasing real estate, obtaining loans, obtaining trade or construction permits, obtaining building plan approvals for water and electricity connections, and paying property taxes all require Khata paperwork.

Possession Letter

The builder issues the possession letter, which is an important document that details the buyer’s date of property ownership. Be aware that this letter does not serve as ownership documentation.

Certificate of Completion (Occupancy Certificate)

This paper attests to the construction’s compliance with local laws. It verifies that the building was built legally and is required for utility connections.

Letter of Allotment

The Allotment Letter specifies payment information, including extra costs for amenities, if you’re buying a house that is still under construction. This letter is frequently needed by banks in order to process loans.

NOCs

Copies of the numerous NOCs that have been received from various authorities, such as the Sewage Board,  Environment Department, Pollution Board, Traffic and Coordination Department, etc., must be requested from the developer.

When you begin your real estate journey with an understanding of these important agreements, you’re investing in a future full of opportunities rather than just making a purchase. Your ideal house becomes more than just a dream thanks to RERA’s safeguard and Lucky Developers’ dedication to quality, which are based on mutual respect, trust, and a hope for a better future.