Documents to check before buying a ready to move property in India
When buying a ready-to-move property in India, it is important to verify and check the following documents before making a purchase:
1. Title Deed: This document serves as proof of ownership of the property and should be checked for any encumbrances or legal disputes.
2. Encumbrance Certificate: This document is issued by the local revenue department and states that the property is free of any financial or legal liabilities.
3. Tax Receipts: The property owner should be able to provide receipts for property taxes that have been paid up to date.
4. NOCs and Clearances: various NOCs like from Fire department, pollution control board, local bodies etc.
5. Power of attorney: in case of buying from power of attorney holder , the original copy should be verified and proper stamps and registration should be done.
6. Occupancy certificate: This certificate is issued by the local municipal corporation after the construction is completed, and it confirms that the property is fit for occupation.
7. Sale agreement : It should be signed between the developer and the purchaser, contains all the terms and conditions regarding the property.
It's always recommended to have legal advisor who has expertise in real estate sector to validate the document and make sure that all the terms of the agreement is compliant with the law and regulations.