Documents To Verify Before Buying Ready To Move In ApartmentsNovember 23, 2017
When buying an apartment, one should be well versed about the procedures and norms involved before initiating the purchase process. Majority of these procedures include document preparation, verification and approvals. So it is vital that the prospective buyer should be aware about the crucial documents required for completing the sale.
Here are 5 documents that should be verified before purchasing a ready to move in apartment.
1. Sale deed
A sale deed is a crucial legal registered document which is the proof of sale and transfer of the property. It is advised to read and confirm all the terms and conditions before signing the deed.
2. Completion/Occupancy Certificate
A completion certificate is issued on the completion of the project by the municipal authorities, while a government agency deems the project habitable and certifies that the property has been built in accordance to the prescribed codes and laws through an occupancy certificate. Both these documents are mandatory for seeking loans or for applying water or electricity connection.
3. Encumbrance certificate
An encumbrance certificate is a proof that the property has no financial or legal liabilities. The sub-registrar’s office where the property is registered issues the encumbrance certificate.
4. Mutation certificate
It is the transfer of the property’s title from one person to another and identifies the owner of the property in government records. A mutation certificate also establishes the owner’s tax liabilities.
5. Building plan
A building plan or site plan is the blueprint of the project, equipment layout and utilities, which is approved by the local municipal authority. It should be ensured that the plan has been duly approved by the authorities as unauthorised constructions will be deemed illegal or will be denied occupancy.
Ladder Mankav Greens, the flagship project by Ladder Kerala, one of the leading builders of luxury apartments and flats in Calicut for sale, offers the best of urban living in the lap of world-class amenities. Assuring home buyers with a hassle free registration process, these quality living spaces make a dream home into a reality.