Best answer: What all documents required for buying a flat in Bangalore?

What all documents to be checked before buying a flat?

5 documents you must verify before buying ready-to-move flats

  • Sale deed. A sale deed tops the checklist while verifying documents for your new home. …
  • Completion/Occupancy Certificate. …
  • Building plan. …
  • Encumbrance certificate. …
  • Mutation certificate.

What is the process of buying a flat in Bangalore?

Documents Required

Sale Deed in the present seller’s name. Katha certificate & an extract from BBMP. Latest tax paid receipt. If there is any outstanding loan, a latest statement from the bank is required.

What is the procedure to purchase a flat?

What is the Legal Process For Buying a Flat in India?

  • The Legal Process of Buying a House in India.
  • 1) Title Verification. …
  • 2) Seller’s Identity Verification. …
  • 3) Documents Related to Land Use. …
  • 4) Construction Approvals. …
  • 5) Occupancy Certificate. …
  • 6) Payment of Taxes. …
  • 7) Mortgages and Other Claims.

Can I sell my flat without mutation?

It is NOT MANDATORY to have the Mutation and Registered Deed in the name of Seller. … If you do not have the time or money immediately at hand, you and other legal heirs can sell the property without any issues as there are no legal restrictions.

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Is NOC required for sale of flat?

No. A No-Objection Certificate (NOC) from Society is not mandatory while buying a flat. … Any attempt by a housing society to block the sale of the flat will violate the law and entail severe legal repercussions. The right to buy or sell a property is a statutory right under the Transfer of Property Act, 1882.

Is it good to buy flat?

Nothing can be more profitable than purchasing a flat at a price much lesser than the market rate. Moreover, the resale flats are fully constructed and come with a ready-to-move-in tag. … Hence, if all the other factors work in your favour, it might be a good idea to invest in a resale flat.

What is the life of a flat?

Ideally, the average lifespan of any concrete structure is 75-100 years. But, it is considered that the average life of an apartment is 50-60 years while of a house it is 40 years.

What documents do you get after buying a house?

These are:

  • Title Deeds. Normally you won’t have title deeds – this is because the Land Registry records are now all digital. …
  • Copy of the lease. …
  • Management pack. …
  • Report on title. …
  • Property information form. …
  • Fittings and contents form. …
  • Warranty. …
  • Stamp duty receipt.

What House documents do I need to keep?

Closing documents: Retain a copy of any document signed during your home’s closing as a backup. This may include the purchase agreement, addendums, disclosures and repair requests, escrow information, inspection reports, and a closing statement.

What will happen to my flat after 100 years?

This means that anyone who purchases a residential or commercial property will own it only for a period of 99 years, after which the ownership is given back to the landowner. Buyers of leasehold properties are required to pay a ground rent to the landowner for this.

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