We all yearn for a property to call our own at some point in our life to safeguard the future of ourselves and our families. The whole process of choosing and finalising a ready to move apartment can be very confusing.
Experts advise that potential buyers should have information on specific procedures and norms when deciding on moving to a new property. Buyers will not only have to provide banks and authorities with documentation and details; if they are applying for a home loan, they also have to check specific documents to ensure a clear title of ownership and government approvals.
So, to make your process a little bit easier, here we have mentioned the documents you will need when searching for your dream ready-to-move apartment.
The municipal authorities provide a Completion Certificate (CC) upon completing the project. In contrast, a local body of a government agency will provide an Occupancy Certificate (OC) when a project is completed and considered fit.
This certificate mentions if the property was built following the approved codes and other laws, making it suitable for occupancy. These documents are mandatory when applying for loans from banks or financial institutions or for water, sanitation, and electricity.
A sale deed is one of the pivotal documents while verifying documents for your new home. It is a basic legal registered document that provides proof for the sale and transfer of property. Make sure that you read the terms and conditions of the contract and check them all before signing the deed.
This certificate is also important to verify that the property does not have any economic or legal liabilities. The sub-registrar’s office will issue the certificate. This should be the same sub registrar’s office where you registered the property.
Property mutation is a process for property transfers, like sale and purchase of property and so on. This document is important for identifying the property owner and also for deciding the tax liabilities of the property.
Another document that is essential to cross-examine is the building plan. The municipal authority approves the building plan; also known as a site plan. This document contains all the details and blueprint of the whole project, like the utilities and equipment layout. The authorities must approve the layout of the building. This approval would prevent the risk of property demolition by the authorities if it is illegal.