property in Mumbai

Planning to buy a property in Mumbai? Worried about the documents to be seen in order to avoid property tangles? Here are the guidelines.This article is written by Simmi presently working as a Senior Associate.

After paying the token for the prospective property-flat what starts is the paperwork procedure. A buyer gets his mind saturated thinking what the paper work must have and how to go with it. A real estate consultant may help but the best advice to look after this is to hire an expert lawyer who will guide you well. Below is just a brief support guiding what to have when buying a property.

Documents required for buying a property are as follows:

  • Draft Agreement – Sale Deed. It is created by the buyer’s lawyer.
  • Property owner’s original agreement – You can see this agreement and also take a copy of it.
  • Earlier sale deeds/sale documents if the case is of reselling.
  • Share Certificate of the society.
  • Bills such as of electricity, telephone.
  • Flat’s measurements/survey report.
  • O.C. stating that the flat is not having any pending dues or liabilities to the society.
  • In case of a new construction, B.M.C. approved architect’s plan.
  • Redevelopment agreement between the Society and the Developer – This is required when you go to purchase a property under construction redevelopment property.
  • Certificate of Commencement.
  • Certificate of Completion.
  • Land information – like M.H.A.D.A, M.M.R.D.A, Freehold Land, Leasehold Land, etc.
  • NOC from the builder to buy investor’s flat.
  • Public notice in the newspaper on buying property in Mumbai is highly suggested. It could be one in English language and one in local language. This notice safeguards a buyer’s interest in case you find any problem over the purchased property.
  • Title note – A lawyer will provide a legal note after getting satisfied.
  • Ready Reckoner Rates in order to check that the property is purchased according to the government’s determined values.
  • Power of Attorney.
  • Sanctioned building plan.
  • Copy of Possession letter from builder/developer.
  • Occupancy Certificate.

Where are these documents available?

Mostly, seller or developer will have these documents. Incase original documents are not accessible, then the government help is needed. Registrar’s office may help with the duplicate copies.

Engagement of the Government Authority

For the registration of the document, sub-registrar’s office is required.

The Buyer should try to have a talk with the Society Committee

Buying a property in Mumbai will require some/most of these documents, subjecting on case to case. If one is thinking to go for a bank loan, then the bank will take care of all the paperwork. It will affirm that the property that the one is planning to buy is not having any controversy as the bank does not want to support a property which is under any trouble.

 

Documents required before buying a property that is under construction:

  • Land Record – Is the most important document, providing information of ownership, title, obligations, rights, mortgage etc. You should not go for a property with unclear title. In many cases, builders or individuals sell flats without carrying the land ownership. Ultimately, the buyer suffers. Therefore, land records must be checked with the builder.
  • Land use type – It is not legal to have residential properties in a commercial or industrial sector. You can approach the development authority to verify the land use certificate to confirm that the property you are deciding to buy is falling under the residential section.
  • Construction Clearances – A Commencement Certificate is necessary to start any property construction. This certificate by the concerned authorities will only be given after examining documents like title, layout plans etc.
  • Building / Layout Plan Approvals – If the builder is not able to provide you this, then it is recommended that you should not go for such property. You should not rely even on draft plans for booking.
  • Master Plan of the Area – Builders try to spread the news of their false future developments through newspapers. Later, they would try to advertise these news in their sales brochures. You should always see at the area’s master plan to check. The town planning department or authority will help you to have a look at these plans.
  • No Objection Certificates and other Clearances – NOC’s are required from various divisions in order to create a residential building. Like NOC from the Fire Department, NOC from the State pollution control board etc.
  • Booking Form, Allotment Letter and Builder Buyer Agreement.

Buying a property, especially in Mumbai is like a dream getting executed. But it will take hardly any time for your dream to get ruined. To avoid this, it is vital to know what documents to be checked before buying a property, whether a ready one or a property that is under construction. As it is said “Prevention is better than cure.” This is to be done to shield yourself from becoming the target of false activity.

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6 COMMENTS

  1. Here are the some keypoints we have noted: 
    1. What is the token advance amount that you need to pay while booking the plot?
    2. Is there any Bank Loan facility available for the said plot?
    3. Check if all the titles of the said plot are cleared by the local governing authorities?
    4. Probe and get the update of the current condition of the said property?
    5. Also find out – what are the various amenities that the said property is giving along with the plots?
    6. Investigate if the said plot is prone to any environmental hazards?
    7. Find out the various route maps to reach the property for sale – like Rail Route, Roadways etc…?
    8. Are the plots covered with boundaries? 
    9. Is the said plot properly surveyed?
    10. Find the asking rate of the land owner before making a counter proposal for the said plot?

    Once you are done with the above mentioned list of questionnaire – It will be definitely help you in taking the right decision as far as the future investment is concerned.

    • Indeed your information on buying a flat in Mumbai is very useful. But what after taking the token money by the agent what security you have that the flat will be sold to you only. Cause now a days brokers take token money from several buyers and is not given assurance. In this case how do we go about that on paying token money the buy is assured of purchasing the flat. Also another question arose that on payment of token money , the sale deed is the final agreement given to the buyer and when other papers are not given can we get refund of our partial payments made alongwith the token money if we stop the purchase of the flat.

  2. Thank you so much for the valuable information. It is very important to check all the documents before buying your home to avoid any further fraud. I think you have covered all the checks very well. Thanks again!!!

  3. Buying your dream is the biggest investment decision made by any person in his lifetime. For some, it is their dream home and so every square foot of it should be perfect.

    As per my opinion, here are 5 things to consider before buying your first home to make a wise decision:

    1) Legality of The Place
    2) Size of The Apartment
    3) Financing Banks
    4) Locality Around The Property
    5) Connectivity

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