Document Checklist before buying a new flat in Pune
Documents are an imperative part of any legal investment. A major amount of paperwork is required before you can finally own a property. Following is the list of documents that must be verified before you purchase a new flat in Pune.
When it comes to buying a house, Sale Deed is a key document a person can possess. A sale deed is a legal document that is evidence of the sale of a property in favour of the buyer from the seller.
Building Completion Certificate
This certificate is issued from the Building Development Department of the Pune Municipal Corporation which states that the building has been constructed and completed and is in compliance with the prescribed safety norms and regulations under the Buildings Act.
Encumbrance Certificate (EC)
Encumbrance Certificate is used in property transactions as evidence of free title or ownership. When buying a new flat in Pune it is important to verify that the property does not have any monetary legal dues.
This certificate is important for those who apply for a home loan or want to sell or buy a property.
With the vast amount of land being agriculture in nature, a Conversion Certificate is mandatory from the legal bodies. This certificate is issued to change the use of the land from agriculture to a non-agriculture purpose.
Khata literally translates to account. This certificate is mandatory for the registration of new property or the transfer of a property.
A certificate of occupancy is a document issued by a local government agency or building department certifying a building’s compliance with applicable building codes and other laws, and indicating it to be in a condition suitable for occupancy.
This certificate is issued for under-construction properties. It is issued from the local municipal authority that permits the developer to begin the construction of the project.
Now buy a new flat in Pune with minimal worries. Happy buying!