Purchasing a 3 BHK property is a significant milestone that requires both emotional and financial planning. While factors like location, builder reputation, and amenities are crucial, verifying legal documents is equally essential to avoid future complications. Here’s a checklist of 8 important documents you must verify before finalizing your purchase.
1. Sale Deed
The sale deed is the core legal document that proves ownership transfer from seller to buyer. It includes details such as property description, parties involved, and sale terms. Ensure the deed is registered with the local sub-registrar office.
2. Title Deed
This document confirms the seller’s legal ownership of the property. Always verify that the title is clear, marketable, and free from legal encumbrances. A title search through a property lawyer is highly recommended.
3. Encumbrance Certificate
This certificate shows whether the property is free from monetary or legal liabilities like loans or mortgages. You can obtain it from the sub-registrar office for a defined time period.
4. Building Plan Approval
Ensure that the construction has been approved by the local municipal authorities. Unauthorized constructions can lead to demolition or legal penalties in the future.
5. Occupancy Certificate
An occupancy certificate (OC) is issued by the local authority post-construction, certifying that the property is suitable for habitation. Without it, you may face issues while applying for utility connections or resale.
6. Property Tax Receipts
Ask the seller for the latest property tax payment receipts. This ensures there are no outstanding dues and also proves the legal status of the property.
7. Allotment Letter (if buying from a builder)
For under-construction properties, an allotment letter issued by the builder outlines the project details, payment schedule, and flat number. This letter is crucial for applying for a home loan.
8. Home Loan Sanction Letter (if applicable)
If you're financing your home through a bank, the loan sanction letter indicates the amount approved, rate of interest, EMI, and tenure. It’s also essential for validating your financial planning.
Final Thoughts
Before sealing the deal, get all these documents verified by a legal expert to ensure the property is free from disputes. If you're looking for a well-documented 3 BHK in Gurgaon , ensure all the above paperwork is in place for a secure and hassle-free transaction.