Purchasing a flat in Mumbai is an occasion. It can also be quite intricate and intimidating. To ensure a secure real estate transaction it's crucial to review the necessary documentation. This article acts as a checklist, for homebuyers outlining the essential documents that must be verified before making the decision to buy a flat in Mumbai. From papers to property records we will discuss the documents to check before buying a flat in mumbai.
The title deed holds importance when buying a flat as it validates ownership and provides information about the property. When reviewing the title deed consider these details;
The sale agreement outlines all terms and conditions related to selling of the property. Make sure to review it to fully grasp the responsibilities of both the buyer and the seller. Take note of the following;
The other documents to check before buying a flat in Mumbai is a certificate of occupancy which is issued by the authority to confirm that the building meets the approved plans and is safe for people to live in. It's crucial to ensure that the apartment you're considering has a certificate of occupancy as it would be unlawful to reside in a property without one, in Mumbai.
Another important document to check before buying a flat in Mumbai is the approved building plan, which ensures that the construction of the building complies with regulations set by the authority. Make sure to check if the apartment you're interested in aligns with this approved plan.
In the Mumbai real estate landscape various authorities regulate property development. Obtaining NOCs from these bodies is crucial. Some common NOCs that you should verify include;
The other documents to check before buying a flat in Mumbai is an encumbrance certificate that provides a record of transactions related to the property ensuring there are no pending dues, mortgages or claims, on it. It's important to obtain this certificate covering 15 years of history.
Make sure that the seller has settled all the property tax payments for the flat. Unpaid property taxes can pose a burden for the owner.
The last document to check before buying a flat in Mumbai is a completion certificate which is issued by the authority to confirm that the building has been constructed in accordance with the approved plan. It is important to verify if the builder has obtained this certificate.
How can you verify the documents?
Once you have gathered all the documents it is essential to verify them. There are ways to do this including;
Purchasing a flat in Mumbai involves a process; however by having documentation you can protect your investment effectively. Make sure to go through each document before buying a flat in Mumbai. You'll be well, on your path, to a law abiding real estate transaction. It's important to keep in mind that seeking counsel is always a decision when undertaking such a substantial investment. This will ensure that you have an understanding of the consequences and obligations linked to your new flat in Mumbai.
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