Essential Documents Required

Here are some of the essential documents you’ll likely need to check and verify before buying a property or making any payment. Keep in mind that this list of important documents can vary slightly depending on the type of property (new, resale, land), the seller, and the specific regulations. It’s always a good idea to consult with a lawyer for a comprehensive list tailored to your situation.

For all property types:

• Agreement to Sell: This is a preliminary agreement outlining the terms and conditions of the sale before the final sale deed is executed.

• Sale Deed: Sale Deed is the most crucial legal document that transfers ownership of the property from the Seller to Buyer. Sale Deed contains details like the parties involved, property description, sale price, terms of payments and other terms of the sale. It needs to be registered at the Sub-Registrar’s office.

• Title Deed: This document traces the history of ownership of the property, establishing the seller’s legal right to sell the property. For resale properties, you’ll likely need to see the “mother deed” which shows the chain of ownership.

• Encumbrance Certificate (EC): This certificate, obtained from the Sub-Registrar’s office, ensures that the property is free from any legal dues or liabilities like mortgages or loans for a specific period. As the only method to get the Encumbrance Certificate in Maharashtra through offline mode, the time taken to get the certificate ranges between 15 to 30 days.

• Property Tax Receipts: These receipts confirm that all property taxes on the property have been paid up to date by the seller.

• Identification and Address Proofs:  Identity proof helps both the parties to know that with whom they are dealing with.  Especially, the buyer need to ask for valid identity and address proofs of the seller. Identity proofs depends upon following things…
• 1. in case of individuals Aadhaar card, PAN card, passport, driver’s license.
• 2. in case of Partnership firm or Limited liability partnership (LLP) buyer must ask for partnership agreement or an LLP agreement along with Aadhaar card, PAN card, passport, driver’s license of partners.
• 3. in case of  Private limited or Public Limited Company buyer must ask for certificate of incorporation and the Identity proof of the person who is coming to deal.

• PAN Card: Both the buyer and seller need to provide their PAN (Permanent Account Number) card.

For resale properties:

• Mother Deed: As mentioned earlier, this traces the ownership history.

• Khata Certificate and Extract : This revenue document contains details about the property, like its size, location, and built-up area, and is important for property tax payments and utility connections. The specific name might vary (e.g., Patta, Chitta).

• Power of Attorney (if applicable): If the seller is not the original owner but is selling through a Power of Attorney, ensure the POA is valid and legally sound.

• Original Share Certificate (if in a cooperative housing society): This certificate indicates ownership in the society and needs to be transferred.

• NOC from Housing Society (if applicable): The society might issue a NOC for the transfer of ownership and no dues outstanding certificate.

• Mortgaged Document & Latest Loan Statement: Now a days many people buying property on loans. So, Buyer must ask for documents related to mortgage which includes
• 1. A Mortgage Deed is a legal document which can be used as evidence of a mortgage agreement between a borrower (mortgagor) and a lender or bank (mortgagee).
• 2. Latest loan statement shows pending loan amount.
• 3. No Lien Letter from Bank is a letter issued when all loans interest and other dues are cleared.

For new properties (from a builder):

• RERA (Real Estate Regulatory Authority) Registration Certificate: For projects under RERA, this certificate ensures the project is registered and provides protection to buyers. You can check the RERA website for the project’s registration details.

• Building Approval Plan: This is the plan approved by the local authorities for the construction of the building. Ensure the construction aligns with this plan.

• No Objection Certificates (NOCs): The builder should provide NOCs from various departments (e.g., fire department, water and electricity boards, pollution control board).

• Completion Certificate (CC): Issued by the local authority, this certifies that the construction is complete and adheres to the approved plans and safety standards.

• Occupancy Certificate (OC): This certificate, also from the local authority, verifies that the property is ready for habitation. It’s essential for getting utility connections and home loans.

• Allotment Letter: Issued by the builder, this letter confirms the allocation of the property to you and includes details of the payment plan and other charges.

• Possession Letter: The builder issues this letter indicating the date when you can take possession of the property.

• Car Parking Allotment Letter: Now a day this is compulsory  to get Car parking allotment letter to avoid any dispute in future.

• Builder-Buyer Agreement: This agreement outlines the detailed terms and conditions between you and the builder.

For land purchase:

• Record of Rights (ROR) / 7/12 Extract: This document from the revenue department contains details of the land ownership, survey number, area, etc. It’s crucial to verify the seller’s ownership.

• Conversion Certificate (if applicable): If the land use has been changed (e.g., from agricultural to residential), this certificate is necessary.

• Layout Approval Plan (if purchasing a plot in a layout): This ensures the layout is approved by the relevant authorities.

Important Considerations:

• Verification: It is crucial to have all documents thoroughly verified by a lawyer before making any payments or finalizing the purchase.

• Registration: Ensure that the Sale Deed is registered at the Sub-Registrar’s office to legally establish your ownership.

• Stamp Duty and Registration Charges: You will be responsible for paying stamp duty and registration charges, which are a percentage of the property’s value. Keep the receipts for these payments.

• Home Loan Documents (if applicable): If you are taking a home loan, the bank will have its own set of required documents for processing the loan.

This information should give you a good starting point. Remember to consult with legal professionals for specific advice related to your property purchase before making any payments.