These five documents must be checked when buying a property?

■ Take special care when buying a property. 

■ These five documents must be checked when buying a property?

The dream of some of you will be to buy and build a luxurious palace-like house.  For the past few years people have been dreaming of buying their own home.  As well as the fights like COVID-19 over the last few years, many companies started offering work from home.  Which is why so many of us have experienced the need to own a home.  So when you are looking for a home, it is important to get information from the builder about the documents used to buy a home or any other type of real estate.  Investing in a property is extremely capital intensive, and any mistake made during the process can cause great difficulty for the buyer.  So it becomes necessary for the buyer to check some important aspects while examining the property documents.  We are going to tell you about five such documents.  From which you can get the idea that your investment will bring trouble or happiness.....

1. Title deed

Before buying a property, it is important to research the ownership of the property.  The title deed is one of the most important documents.  Which must be checked before buying a home or any other property.  It states the rights and responsibilities of the owner.  This also shows that there is no problem in terms of ownership, division, conversion, transformation, etc.  It is also important to verify that the land on which the property is built has been legally purchased and constructed in compliance with the permits.  Ownership documents are advised to be reviewed by a lawyer.

2. Incumbence Certificate

The house is an important property, taxed by the local municipal corporation.  It is therefore necessary to verify that it has no arrears.  For this the buyer should check the incumbency certificate.  This certificate proves that there is no financial or legal liability on your property.  This can be obtained from the office of the Sub-Registrar, where the property is registered.  You can get up to 30 years of incumbency certificate.

3. Certificate of Commencement

Any construction is given a certificate of approval.  This document must be checked if you are buying a property such as a flat, land or building from a developer.  Construction begins only after obtaining the necessary approvals, licenses and permits from the local authorities

4. Layout or building plan

Layout plans should be approved by appropriate planning authorities.  Home buyers need to be careful, as there have been cases when developers have changed the approved layout by adding additional floors or reducing open spaces.  Generally, the building plan is approved by the local municipal authority.  This is also known as a site plan and this document includes the blueprint of the project, the layout of the equipment and the utilities.  Any unauthorized or additional construction may later collapse under pressure.

5. Occupancy Certificate

This document certifies that the property was built in compliance with approved permits.  The developer should complete all the necessary formalities.  Whether the building is suitable for commercial purposes should be known.