Documents to Verify while buying a resale property

Q: Hi,

I am planning to buy a resale property in CHD avenue sohna road gurgaon the possesion of which has been given by the builder 6 months ago. I am also going to take a loan from bank for the same. Please guide me as to which all documents needs to be verified before commencing with the deal.

Thanks Varun.

vinod,

19th November 2014

Buying property in Sohna Road, Gurgaon

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Replies (4)

Extremely useful information....to know more about buying a commercial or residential property in India please visit:http://www.capitaltree.in/...thanks for the share!!

Ankit Jain, Gurgaon

20th March 2015

Comment

Thanks everyone for sharing such useful information :) especially Antara for listing down all the documents required for purchasing a resale property. I want to ask two more questions :

1) How does one verify if there are any loans going on against the property or not?
2) Is khata certificate required in gurgaon as well as I read online that is required only in bangalore.

Please guide me regarding the above two questions as well. Thanks.

vinod,

20th November 2014

Comment

Hi Guys,
Thanks for sharing such important information here. I had also same doubt like Mr Vinod. Now i am not confused. But guys can you please explain me what is this sale deed, mother deed & EC? How these documents are important in this (resale property buying) case?

Bulbul Verma,

20th November 2014

Comment

Hi Vinod,

One of the most important aspects of buying a resale property is to ask the seller for a clear marketable property title. Once you have zeroed down on a resale property, ensure that there are no other claimants for the property. Check whether the property has joint ownership and if yes, ensure that all co-owners have authorized the sale.

Sarthi, Gurgaon

20th November 2014

Comment

Hi Mr Vinod,

According to me, seeking the property titles along with the original documents will help in knowing if the existing owner has bought the property on resale. In case any of the documents from the chain of titles are not stamped as regulated, the banks might refuse to offer a loan for the purchase of a resale property.

Sonia, Gurgaon

20th November 2014

@ Vinod,

One might also have difficulty in seeking a loan if the resale property is older than 10 years. It is advisable that the buyer seeks technical expertise to evaluate the property before approaching the bank, as the bank would safeguard its interests by evaluating the property at a lower rate considering the depreciating property value in future.

Indranil, Gurgaon

20th November 2014

Hi Vinod Ji,

In my point of view there are some very very important documents you must verify before buying any resale residential property . Those documents are Sale deed, Mother dee, EC, latest tax paid receipt, Khata certificate, Occupancy Certificate, Building approval plan, possession certificate, Record of Tenancy rights documents & DC conversion.

Antara, Gurgaon

20th November 2014

Hi Mr Vinod,

In my point of view, buyer should engage one lawyer or discuss with an advocate to verify all these above said legal documents in registry office & court. So that the advocate who will verify all these documents on behalf of you , will make sure that there will be no issues with your property.

Mahek, Gurgaon

20th November 2014