Documents Required While Buying a New Home

Buying a new home is definitely one of the most crucial decisions we take. We collect and use our hard earned which may be entire life’s saving for us when we make a purchase decision to buy a property to live in. Other than this monetary significance, our homes also have emotional importance. For most of us, a home is purchased only once or twice in a lifetime, and the feeling of house belonging to us is simply great. No matter what kind of house it is, be it a flat, a luxury apartment in Derebail, or or an independent house anywhere else, a home is a home. We know we have assured privacy there, we can maintain it the way we want to without taking permissions from landlord for every change we make, we can get it reconstructed or mended as an when we desire, and most of all no one can ask us to leave from this personal space and we don’t need to keep thinking about the rental contracts and moving to a new address every year. Therefore buying a home a blessing!

But sometimes, for either because of lack of knowledge or because of carelessness, some people suffer. We must never take hasty decisions while investing in a property and always check all the documents and get them verified by experts. Sometimes a silly mistake can lead to a difficult situation which make us a victim for fraudulent activities and a huge monetary loss. Hence, assured and complete documentation work is of utmost importance.

Following is a list of property documents you must check and have a copy of to avoid any hassle at a later stage:

1. Deed of Sale or Sale Deed: This is the most important document which states that a property has been purchased and the ownership has been transferred from a seller to a buyer. This is the core legal document which that a deal took place between two parties and an agreement has been signed for the sale and purchase of a house. This document has to be compulsorily registered and accounted. Before the sale deed is executed, it is extremely important that we check the sale agreement for compliance of all the terms and conditions properly defined and agreed upon between the seller and the buyer. It is important for the seller to settle and confirm all statutory payments like property tax, cess, society charges, electricity charges, maintenance charges, water charges, etc. well before the deed is executed.
2. Mother Deed/Parent Deed: This is that document which states the transfer of ownership from the beginning if the property has had multiple owners i.e. it traces the antecedent ownership.
3. Building Approval Plan:  This is sanctioned by BDA, BBMP or BMRDA or BIAPPA. Without this the construction of the building is not legal under Karnataka Municipal Corporation Act. This requires a docket of documents which is available on the government website.
4. Commencement Certificate:  This is required if the property is under construction and is issued by BDA/BBMP etc. post site inspection. Without this the construction will be considered illegal and can be stopped by government.

Other Important Documents are:

• Conversion Certificate (Agricultural to Non-agricultural land)
• Khata Certificate or Khata Extract
• Encumbrance Certificate
• Betterment Charges Receipt
• Power of Attorney or POA
• Last Tax Paid Receipt
• Completion Certificate (if the property is fully constructed)
• Occupancy Certificate

Buying a premium flat in Mangalore, or a usual residential property, every purchase has its own risks if the process is not carried out meticulously. Hence be very careful with documentation work, and the sale and purchase dealings while buying a new home.

Brigade Pinnacle Apartments are a one of the reputed ones to buy, as this group takes care of the rights of buyers and duties if sellers hence respecting and giving the desired worth to the new home owner.