In Recent trend Real Estate become a vital part of everyone life. Whenever someone decides to purchase a property then they check all modes of funds and price of property but with that it is also important to protect yourself to become a victim of any fraudulence related to property for that they should check all the document of property. Property Document is very important for any property seeker to protect their property from any fraudulence and disputes.
Real Estate investment is really such a big investment for any investor life because they are going to invest a huge amount of money in real estate properties so, it is compulsory for any investor to have knowledge about that and be careful before taking any step. Because these properties give benefits in future as well as in present too. Property documentation is very important to avoid all disputes related to property and donâ€™t want to face any big loss in future related to your dream home.
Let consider come important factors that need to be checked before buy a new home it is necessary in order to avoid fraudulence attempt that cheat investors in future or before buying a property it is important to check the following documents:-
Registration of this document is mandatory because this is the main document that acts as an evidence of sale of property as well as the transfer of ownership from builder to investor. One more important thing that investor consider before signing that deed check all the term and conditions that agreed by investor and builder and also check that property bear the clear title.
These documents are the parent documents which are mandatory and help the investor to tracing the ownership of the property from starting of the deal. This document need when you further resale your property. If you donâ€™t have these documents, then investor should obtain the copies from registering authorities. These are also need when investor buying home through loan.
Approval Plan of Your Building:-
Before any investment the investor must check that builder have approval plan from jurisdictional officer or from any other officer who are authorised by the government commissioner. Builder need to submit this entire document to officer for approval documents are:
- Property Assessment Extract
- Title Deed
- Property PID number
- Up-to date tax receipt
- City/Panchayat survey sketch
- Earlier sanction plans
- Demand drafts
- Land use certificates
- Foundation certificate.
This the main most important document needs after sale deed and mother deed. Because this deed means that the transfer in ownership of property that get from home loan. This consist the registration transaction on the property during the EC filed. In simple, it is evidence of mortgages that affect the property.
Power of Attorney:-
This document is used to give legal authority to other person by the owner. This gives the right to holder to sell the property, mortgage on their behalf. So, owner has to be careful before transferring the attorney. The government in 2013 made mandatory registration of these documents.
This document is very mandatory at time of purchasing. Municipal authority will issued this document stating that the building is compliance under the rule and construct according to the plan.
This certificate is issue in order to ensure that the constructed building is meeting all the condition and norms that are specified. Or in simple words you can said that this certificates would certify you that the project is completed and ready for occupancy.
From all these points that we discuss above that the buyer consider whenever they go to purchase property doesnâ€™t matter whether they purchase 2 BHK flat in Jaipur or 3 BHK flat in Jaipur from any Builder In Jaipur and check all aforementioned document during purchasing a home.