property document verification

Q: what documents should i verify while purchasing resale residential plot.

Harsh,

22nd November 2014

Legal in Nagpur

documents for buying property

property verification

required documents for a resale property

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Apart from that there are certain essentials that make the selection process an easy and productive one.
1) The age of the property should ideally range between 1-5 years to a maximum of 10 years. 2) Know about the reputation of the builder and the quality factor associated with his past developments. 3) Understanding the reason behind the sale will help in uncovering the problems and issues with the property, if any. 4) Considering the surround environment, proximity to important areas and amenities available in the vicinity also affects the final decision of purchasing a resale flat.

Abhijit Thanki, Mumbai

11th February 2015

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Hi Harsh,
I would advice you to take the help of a good property lawyer to check these documents:
1.Original sale agreement ( to make sure there is no outstanding loan on this property)
2.NOC from the society for sale of the flat ( to make sure the society is formed and is in existence)
3.Share certificates issued by the society.
4.Proof of payment of all muncipal taxes, society charges and electricity bills upto date to make sure there are no outstanding dues.
5.Income tax receipts from the seller to make sure he has paid all the income taxes and has no restriction to sell his property.

Abhijit Thanki, Mumbai

11th February 2015

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