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Documents to Check Before You Buy a New Flat


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Shopping for basic blue denim becomes so confusing at times; imagine the hassle that you have to go through while buying a property. It can be tiresome but most importantly, it is one of the trickiest waves of ever-changing trends to try new moves. Yes, if you are looking to buy a new flat, either for living or property investment, you should display utmost care to every single minute detail. Especially, if you are a first time home buyer, there are so many legalities and hidden charges that you must be aware of before taking any decisions.

So, you already know the basic which is to do good research both virtually and in person about the location, connectivity, amenities etc. But, property investment requires a huge amount of cash to be satisfied with just the basics. Doing proper background research of both the builder and the broker is how you should proceed about it. Then comes the most vital aspect, which is the legalities including an endless list of paperwork.

Listed below are some of the significant documents that you should not just read but also understand clearly before you decide to buy a new flat:

TITLE DEED – A revelation when it comes to buying a property. A Title Deed is a legal document that tells you whether the builder owns the property being sold and if he or she has the freedom to transfer ownership and sell the property. Always make sure that you insist on seeing the original copy and not the photocopy. At the same time, it is advisable to get the Title Deed reviewed by a lawyer for a crystal clear picture.

INTIMATION OF DISAPPROVAL (IOD) – There are various permissions that are required at different stages of construction, which requires getting approvals and No Objection certificate (NOC) from various departments such as the Storm Water and Drain Department, Sewage Departments, Forest Department, Environment Department, Traffic and Coordination Department, Chief Fire Officer, Airport Authority and Pollution Board, among others.

COMMENCEMENT CERTIFICATE (CC) – As the name suggests, it is a document issued by local authorities that legally allows a builder to proceed with the actual construction work. So, make sure that you ask for the Commencement Certificate as you would not like to buy a flat that is illegal.

ENCUMBRANCE CERTIFICATE (EC) – This document is issued from the office of the registration authority (the sub registrar’s office) and tells you if the property carries any liabilities both legal and monetary or if it has any litigations pending. The liabilities can date as far back as three decades.

APPROVED LAYOUT PLANS – The planning authorities are responsible for approving the layout plans. You must double-check the approved layout plans with the actual construction as many builders deviate from it by adding extra floors or reducing open areas making it a questionable construction.

PURCHASE AGREEMENT – What you read is what you get. That’s right. A purchase agreement is that document which incorporates all the details such as project specification, apartments, payment terms, completion deadlines and the type and amount of penalty if any. It should also contain a clause to transfer the common areas to the society ensuring no further construction by the developer. Remember, you can only hold the builder legally accountable for the deliverables mentioned in this document and not the flowery verbal promises.

OCCUPANCY CERTIFCATE (OC) – Finally, the Occupancy Certificate is the last thing you should check to ensure that the property has been constructed in compliance with all legally provided permissions. The OC is only received after the builder has completed all the necessary civic amenities connections such as water, sewage, electricity etc.

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