10 Important Papers To Check Before Buying A New Property in Panvel

Posted by balajisymphony on June 1st, 2018

Mumbai is the most ideal place in India. It enjoys the status of being a metro, a retired person’s paradise, IT and ecommerce hub, Shopping mall, the garden city etc. One can easily fulfil the dream of owning a home in such a beautiful place as there are many residential Property for sale in Panvel.

But buying a new Panvel Property is a complex task. There is lots of paperwork involved. But the feeling one gets after going inside own home is awesome. That is worth the stress of doing all complex documentation procedure.

Buying a Home is a different ball game as compared to buying a home or apartment. The kind of documents required while doing documentation for buying a home is slightly different. There are different kinds of processes followed in each state while buying 2, 3 BHK Flats in Navi Mumbai. Twelve most important papers to check before buying a new property are as follows:

Land Records: You should check that the builder owns the land which he/she wants to sale. Land records give details about all aspects of the property.

Sales, Deed: You should check document which is proof of transfer of property from seller to buyer. Registration of sales deed is mandatory.

Government Building Approval Plan: A Building approval plan is given by a government body. Like in case of Mumbai it will be Mumbai Development Authority. The building owner has to get an approved plan from jurisdictional commissioner.

Commencement Certificate: This is the document which is needed for when someone require to build property on the land. Failing which one will have to pay penalties for the property will be treated to be illegal.

Power of Attorney: When you die, the POA dies with you. Well, not the person you named. The legal power he/she has over your real estate is no longer in effect after death. It is a document which gives the person an authority on owners behalf of the owner is not physically present to carry out the legal transactions.

Conversion Certificate: This document is a proof of the land status being converted from agriculture to non-agricultural real estate property.

Completion Certificate: It is a document which talks about the real estate property, if any, built on the plot meets the needed standard in terms of every dimension specified by the government.

Encumbrance Certificate: This certificate shows the registered transactions related to the property mentioned in chronological order.

Betterment Charges Receipt: It is a development charge that is to be paid to the local government body.

Compounding Fee Receipt: This document talks about any deviations in the plan which were carried out while building a property on the plot.

All these documents are mandatory. There are more such documents required. It is always recommended to take the help of a real estate Builders in Navi Mumbai, agent who can take care of all documentation work.