How can I get property papers: Today we will tell you what things customers should keep in mind while buying a flat, floor, house or land.
New Delhi. If you are going to buy a property then it is very important that you investigate it thoroughly. It is also important to investigate the ownership rights and papers of the property. Today we will tell you what things customers should keep in mind while buying a flat, floor, house or land. Before making any deal, it is important to get information about many things. Otherwise you may get cheated. Actually, the things that you should look for while buying a new property include location, various types of documents, information about the seller, any kind of dispute on the property etc. You can take legal advice for this work.
As far as scrutiny of documents is concerned, you have to pay special attention to them. Which documents are necessary to check? Whatever project you are buying a flat or house in, it should be registered with RERA. This is a real estate law, which is passed by the Indian Parliament. Its objective is to protect the interests of the general public in the real estate sector and protect them from fraud.
1. Before purchasing a property, it is very important to verify the title and ownership of the seller.
2. Channel Document: It is very important to check the channel document also. Channel document means X sold to Y, Y sold to Z. During this period, everyone has a say in whatever deal is made. That means there should be reference to who got it from where.
3. Encumbrance Certificate: This certificate tells you that there is no mortgage, bank loan or any tax outstanding on the property you are buying. Apart from this, information is available whether there is any penalty. Apart from this, you can collect information by going to the registrar’s office and filling form number 22.
4. Occupancy Certificate: Occupancy certificate is an important document, which must be obtained from the builder. If he does not give it, then the buyers have the right to take legal action against the developer.
5. Possession Letter: The developer issues a possession letter in favor of the buyer, in which the date of possession of the property is written. To get a home loan, it is necessary to present the original copy of this document. Unless OC is obtained, possession letter alone cannot be considered sufficient for possession of the property.
6. Mortgage: A mortgage is a type of loan that a borrower uses to purchase or maintain a house or other form of real estate. Also agrees to pay it over time. Property acts as collateral to secure the loan.
7. Check the status of tax payment: Non-payment of property tax leads to levy on the property, which affects its market value. Therefore, the buyer should visit the local municipal authority and check whether the seller has made any default in property tax.
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