Some Vital Documents You Should Verify When Buying Ready to Move Flats

Some Vital Documents You Should Verify When Buying Ready to Move Flats

Looking to buy a ready to move flat? So are hundreds of thousands of people expressing their concern about making a purchase of ready to move flats in Jaipur.

Ever thought why more and more people are opting for ready to move flats? Well, there can be myriad reasons supporting the fact but the greatest benefit of all is that they can move in to their flat any time they want. Or, they can consider their property for rental income. Furthermore, you will get to save your expenses on current accommodation. You can use these savings to pay your EMIs every month on the home loan.

However, there are some important documents that have to be verified when you’re buying a ready to move flat.

Sale Deed

A sale deed is one of the most important documents that must be verified when purchasing flats in Jagatpura. In fact, this document is legally registered which is deemed to be the proof of sale as well as the transfer of the property. Before you choose to sign the sale deed, reading the fine print and checking all the required terms and conditions will be the smartest move you will make.

Building Plan

The building plan is another crucial document that needs to be examined before buying a flat. The local municipality authority usually approves this document. Also called a ‘site plan’, a building plan consists of a blueprint of the entire project. In addition, this document comprises other vital things such as utilities and equipment layout. As a buyer, it is very imperative for you to make sure that the layout of the project or building has been approved by the local authorities. This is because any unlicensed or additional construction can be destroyed. It can even be denied occupancy afterward.

Completion / Occupancy Certificate

After the project is accomplished, the municipal authorities issue a completion certificate (CC). In the meantime, a local government agency issues an Occupancy Certificate (OC) once the project is completed and is considered right for housing. This certificate states the fact that the property has been constructed in accordance with the laws and regulations that make it suitable for taking possession. It is important for you to keep in mind that both these documents are very crucial as they help you in seeking home loans from banks for buying ready to move flats in Jaipur. They can even help you when it comes to applying for electricity connection, sanitation and water.

Mutation Certificate

This document is the one that identifies the property owner in government records and establishes the tax liabilities.

Encumbrance Certificate

Before you buy the property, verifying that it doe not have any prior dues associated with it is the right thing to do. For this, you need to check the encumbrance certificate when purchasing flats in Jagatpura. This certificate gives the proof that the property has no legal or monetary liabilities. You can get the certificate from the office of the sub-registrar.

Buyers have become distrustful when it comes to making an investment of their hard-earned money in under-construction projects since the day Real Estate Regulation and Development (RERA )Act has been put into action. Unceasing delay in the projects has damaged the reputation of under-construction projects to a greater extent. So, the demand for ready to move flats has tremendously increased.

 

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