Buying a property not only involves you checking different locations and neighbourhoods, but it also requires you to handle a lot of documentation. In India, there are some important documents that you need to check to establish your ownership over the property. Here is a list of some of the essential documents that are required for buying a property in India:
1. Sale Deed /Conveyance Deed
The sale deed is the most important document required for property purchase. The signing of the deed signifies the ownership of the property for the last 30 years. It needs to be registered at the Sub- Registrar's Office of the area where the property is located.
2. Extracts from mutation register
You need to get the relevant excerpts from the mutation register as it contains the details of previous ownership, the present owner, mode of purchase, and the total area of the land on which the property is located
3. A general power of attorney
General Power of Attorney, is used by buyers and sellers to prove whether the sale or purchase of a particular property is being done by an authorised person on behalf of the property owner. This document has to be produced in original for applying for a home loan.
4. No-objection certificates (NOC) from Government Departments
No-objection certificates (NOC) from government departments is a must-have document required during the sale and purchase of a property. This document will ensure that there are no statutory dues pending and also to make sure that the property is regularised. However, for different property transactions, various No Objection Certificates are required from different authorities.
5. Property tax receipts
You must have the property tax receipts from the seller at least for the last 5 years in order to ensure that the previous owner had paid property taxes and there are no property tax dues are pending. It also established the legal status of the property.
6. Copy of sanctioned building plan
You must have a copy of the sanctioned building plan approved by the statutory body. It helps you to establish that the building has been constructed as per the approved plan and no rules have been violated by the developer.
7. Allotment letter
If you purchase a property from a builder or society, you need to obtain the allotment letter issued by a developer or the housing authority, to know how much money needs to be paid to the builder or society on account of the said property. It also covers all the important details about the property
8. Sale agreement
Sale agreement contains information about the property ― the terms and conditions, the possession date, the specifications, the payment plan, the details about the facilities, etc. The agreement has to be produced in original while buying the property and acquiring a home loan
9. Payment receipts
Collect all the original signed payment receipt from the seller specifying the receipt of the money on account of the purchase of the property.
10. Occupancy certificate
An occupancy certificate or completion certificate is issued by the municipal corporation to the developer after the construction of a building to establish that it was constructed according to a sanctioned plan and the building is ready to be occupied.