Buying a flat in Patna is now easier than ever before, but it is still important for you as a home buyer to tread with caution. The fluctuating real estate rates, property tax rules and other changes in the industry make it extremely difficult to purchase a property. However, a little effort and research you can assure yourself of a good deal. With proper due diligence of essential documents, you can protect yourself from unscrupulous practices of the developers. Here is a list of documents to be verified before buying a flat in Patna.
The sale deed tops the list of crucial documents that are to be verified before purchasing your new home. The sale deed is the foremost legally registered document, and acts as a proof of sale and transfer of the property. Before you sign the sale deed, it is advisable to read the fine print and all the terms and conditions.
The completion Certificate (CC) is issued by the local municipal authorities on the completion of the project. On the other hand, Occupancy Certificate is issued by a local government agency once the completed project is deemed fit for habitation. This certificate confirms that the property has been built in accordance with approved laws and codes, and is suitable for occupancy. Both certificates are mandatory when seeking home loan or while applying for water and electricity connection.
Like the sale deed, a building plan is another document that needs to be cross-checked before purchasing a property in Patna. A building plan is usually approved by the local municipal authority. The document contains a blueprint for the project, equipment layout and utilities. When buying a flat, the buyer must ensure that the layout of the building has been approved by the authorities. Any unauthorized or additional construction stands the risk of being demolished later on.
When buying a flat, it is important to know that the property does not have any encumbrance like mortgage or charge due against it. An encumbrance certificate provides evidence that the property in question has no monetary or legal liabilities. The certificate can be obtained from the sub-registrar’s office where the property has been registered.
If you are planning to buy a flat in Patna, make sure that you check the aforementioned documents to make a well-informed property buying decision.