Nowadays when there is scarcity of land and the prices of lands are reaching to sky high limit, everybody still dreams to own a piece of land/plot and build their beautiful home of dreams. Those who cannot afford to buy plot, they go for purchasing apartment/flat. Also some people purchase these assets as an investment.
Before buying, we make almost every enquiry of the asset. But still sometimes we get trapped into the fraud and end up losing almost the whole money. Therefore before taking a final call on the purchase of plot or flat, the necessary documentary proofs of the legality of the asset should invariably be checked without fail.
Though there are many documents that you will need to ensure that your developer has cleared in his files or not but out of these, RTC Extracts is the most critical document which ensures the Title and proof of rights. The following is the list of documents which you should verify before purchasing the plot of flat.
- Sale Deed, Title Deed, Mother Deed, Conveyance Deed
- RTC (Records of Rights, Tenancy and Crops) Extracts
- Katha Certificates and Extracts
- Mutation Registration Extracts
- Joint Development Agreement
- Power of Attorney
- NOC from Electricity Dept. / Pollution Dept. / Water Works / Port Authority etc.
- Sanctioned building plan
- Sale & Construction agreement between Developer/Builder & 1st owner
- Copy of Possession letter from Builder / Developer
- Any Loans on Property verification
- Sale Agreement with the Seller
- All Paid Tax receipts
- EC up to date for last 13 years
- Demand letter from Vendor before disbursement
- NOC from Society / Building
- No Due Certificate
- Approved Plan
- Approved layout plan
- Auction Sale confirmation letter from local authority
- Release Deed if any
- Completion Certificate
- Occupancy Certificate
- Deed of Declaration
- Latest Electricity Bill
From the above list, some documents may or may not be applicable to you. Therefore, please take legal advice before you step forward to crack the deal.