7 Required Documents for Buy a Property

7 Required Documents for Buy a Property If You Planning to Buy a Property for Investment Purpose – Must Verify the Below Mentioned Documents Before Make a Payment For the Property. This Article will help Buy a Property without any Legal issues. 

Every People’s Small Future Investment Plan is Buying a Property. But Make sure all of the Documents are Clear in that Property – It may Land or House.

7 Required Documents for Buy a Property

1. Sale Deed
2. Extracts
3. Mutation Register Extract
4. General Power Of Attorney
5. Copy Of Building Plan
6. No-Objection Certificates (NOC)
7. Allotment Letter
8. Sale Agreement

Sale Deed

This is an Required Document While you Phurse a Property – The Sales Deed Contains the Details of Real ownership of the Property. Have to Register the Sale Deed The Property’s  Near Register office Belongs to the Panchayat 

Extracts

Extracts is Also known as Khata certificates – This Document May Differ Based on the States. This is one of the Important documents while we are buying a property. This Document will Help to transfer the Ownership in future from one person to another person. These kinds of documents will Available in the Local Municipal office. If you Plan to get a home loan from banks this document will help you. 7 Required Documents for Buy a Property

Mutation Register Extract

If You Are buying a Property is in Gram Panchayat jurisdiction this is the required document to verify the previous ownership. You have to Submit the copy of Mutation Register Extract to the Gram Panchayat jurisdiction. Keep a one copy with you for future verification. 7 Required Documents for Buy a Property

General Power Of Attorney

This document is needed to prove whether the trade or purchase of a particular property is being done by an authorized person on behalf of the proprietor of the property. This has to be produced in original for getting a home loan. 

Copy Of Building Plan

 A buyer must acquire a dupe of the structure plan approved by the statutory body to establish that the construction of the property is legal and is done according to set rules and regulations. 

No-Objection Certificates (NOC)

There are as numerous as 19 NOCs that have to be acquired by a inventor from different authorities while erecting a casing design. Still, the number may vary according to specific state rules. Ask your inventor to give you the clones of these NOCs, and keep it in your particular record. 

Sale Agreement

This document lists all kind of information about the property ― the terms and conditions, the possession date, the payment plan, the specifications, the details about the common areas and installations, etc. 

The agreement also holds the inventor responsible for the construction of the property. This document has to be produced in original for property purchase and acquiring home loan 

An allotment letter is one of the most important documents needed for getting a home loan. It’s issued by a inventor or the casing authority, stating the description of the property and details of the quantum paid by the buyer to the inventor.

 Do keep in mind that an allotment letter isn’t the same as an agreement of trade. An allotment letter is issued on the letterhead of the authority while a trade agreement is proved on a stamp paper. Also, an allotment letter is issued to the first proprietor and other possessors can ask for the dupe of the original letter from the dealer. 

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