To opt for a new apartment is the dream of every person, regardless of how much well off he is. But there are always some basic things that you should consider for your well being. Among these comes the legal procedures, which ought to be checked right at first before you step into your new apartment to cut down your worries.
Therefore, here we would take you through a handful of documents which you should quickly arrange to possess and rest assured in your dream home. After which you don’t have to fret at all with our Home Designing: Trends to Follow in 2019 by the best steel manufacturer India.
To stand as proof of the change of ownership of a property from seller to the buyer, you should be having a sale deed. This document is of utmost importance to indicate the owners of the apartment. Once you are done with the sale agreement, you must be collecting the sale deed also.
Get hold of the Mother deed. This particular document will help you to trace the ownership of the property you are about to possess. The Mother deed is a must even at the time when you would resell your property in the future.
The next in importance comes the approval plan. If you don’t manage to collect the proper approval plan from the concerned authorities, then your apartment would be deemed as an illegal one.
You should also collect the Commencement Certificate. The local authorities usually issue it after rigorous inspection of the site you are about to buy.
The Conversion Certificate follows now in the line of the most important documents you should be handy with. Note: This is a document that is valid only in case of land which earlier served for agricultural purposes but it has changed its status recently and is now labeled for non-agricultural purpose. Thus, the Conversion Certificate is very important if the land of your apartment used to be agricultural land.
Account certificate and account extract are another one of those significant documents which you must be possessing. These documents track down the details of the owner. Remember, you cannot get teh property transaction trade license if you don’t have these. Furthermore, you would also need the account certificate and account extract going forward for the registry of your property.
Now comes the Encumbrance Certificate. This document will list down the liabilities that the owner has created on the property. In simple words, with this, you will get to know whether, during the ownership of the property, the person involved, used the mentioned property as security for loan or mortgage.
The receipt of the Betterment Charges is also quite useful to be kept handy. This document will give you the details of the money, whatever was spent on the development of the property. You can have the Betterment Charges receipt issued when the buyers pay off the whole sum.
The Power of Attorney is a really useful document authorising a person to act on behalf of the owner.
Also, get hold of the Latest Tax Paid receipt to ensure that the seller has duly paid all the taxes in relation to the apartment that you are up for buying. This receipt is issued by the government if the taxes are all paid properly in time.
Lastly, a completion certificate is really a valued document that signifies that the mentioned property is fit for possession and for human habitation.
To sum it up, also enquire whether you’ve got the property built by the Steel manufacturers in India, for added security.
READ ALSO OUR NEW UPDATES
- The Growth of Indian Steel Industry
- Use of Steel in the Automotive Industry
- 5 Construction Site Safety Tips to Ensure Workers Stay Safe and Healthy
- Properties and Interesting Facts about Steel
- Earthquake-Resistant Building Norms India
- Constructing Earthquake-resistant Structures in India: Know How
- Limit Construction Cost with These Amazing Tips
- Industrial Uses of Steel
- Top Trends of the Construction Industry for 2019