This is the most important piece of paper required for property purchase. Sale deed has to be produced in original as it establishes the ownership of title of the property. You need to register the sale deed in the Sub- Registrar's Office of the area where the property is located.
Khata certificate or extract is known by different names in different states and is an important document for the registration of a new property. It is also required if you want to transfer the ownership of the property at a later stage. This document is a proof that the property has an entry in the local municipal records and the construction has been done according to an approved plan. Banks ask for this paper before granting you a home loan..
This specific document is for Gram Panchayat properties and provides the details of previous ownership. Though not required in original, this is mandatory to produce if the property you are buying is in Gram Panchayat jurisdiction.
A buyer must acquire a copy of the building plan approved by the statutory body to establish that the construction of the property is legal and is done according to set rules and regulations..
An allotment letter is one of the most important documents required for getting a home loan. It is issued by a developer or the housing authority, stating the description of the property and details of the amount paid by the buyer to the developer. Do keep in mind that an allotment letter is not the same as an agreement of sale. An allotment letter is issued on the letterhead of the authority while a sale agreement is documented on a stamp paper. Moreover, an allotment letter is issued to the first owner and other owners can ask for the copy of the original letter from the seller.
Collect original payment receipts from the developer if you are buying a new property. If you are buying a resale property, ask for a copy of receipts from the seller to be produced to the bank.
Property owners have to pay taxes. Ensure that the previous occupier/owner had paid property taxes and there are no pending due. Property tax receipts also help in proving the legal status of the property.