While buying a property whether residential or commercial , the buyer puts money which he/she has earned over the years by hard work therefore it becomes essential to do a thorough check of the property before making any final decision . Here is a checklist of few important documents which should be in place before investing the money in any property
1. Title Documents like copy of conveyance deed/registry has to be in possession of the seller. Incase the property is mortgaged then the documents should be with the bank or financial institution who has provided the loan .
2. Revenue Department Records have to be checked from sub registrar office or Revenue officer (Patwari in some states ) to confirm the actual ownership of the property . Latest mutation papers (fard/Jamabandi/Intekal) has to be verified to check that the property stands in the name of seller . It will also confirm if there is any litigation or the property is mortgaged .
3. No dues certificate to be obtained from bank / financial institution in case they had provided any loan earlier . The no dues certificate will confirm that there is no outstanding .
4. Sanctioned Building plans to be checked from competent authority / Municipal Corporation . It will confirm that the building is constructed as per sanctioned plan by authorities or there is any violation done in construction . If there is any violation in construction then one should avoid purchasing that property.
5. Occupation Certificate also known as OC is issued by the concerned authorities . OC is issued after checking that the building is constructed as per the sanctioned plan and there is no violation. OC will be applicable in properties which are possession ready .
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