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People work hard to establish their home. People try to make this dream come true by adding every penny. But when this dream comes to the verge of coming true, the process involves a lot of paperwork of the property. If you are taking a home loan then a lot of paperwork has to be done by the bank and administration. Many people have very little knowledge about the documents related to property.
Before making any property deal, it is important to know about many things. You can also take legal advice for this work. Let us tell you about those documents (property ke jaruri kagaj) which are necessary to buy a house.
Sale Deed: This sheet of paper is most important for buying a house. The original deed proves your ownership of the property. You have to register your property by visiting the sub-registrar office of the area where the property is located.
Occupancy Certificate: Occupancy certificate is an important document which needs to be obtained from the builder. If he does not give it, the buyers have the right to take legal action against the developer.
Possession letter: The developer issues a possession letter in favor of the buyer, mentioning the date of possession of the property. It is necessary to submit the original copy of this document to avail the home loan. Unless OC is obtained, mere possession letter cannot be considered sufficient for possession of the property.
Mortgage: A mortgage is a type of loan that a borrower uses to purchase or maintain a home or other type of real estate. Also agree to pay it over time. The property acts as collateral to secure the loan.
Filed-Rejected (Filed-Rejected): This document is used in the properties of Gram Panchayat. It contains information about the previous owner. Although there is no need to provide the original documents, but if you buy property in the areas under Gram Panchayat then it is mandatory to show it.
No Objection Certificate (NOC): Very few people would know that to build a project, the builder has to obtain 19 NOCs from different authorities. However, this number may vary from city to city. You can ask your developer to keep a copy of these NOCs for your records.
Allotment letter: Property allotment letter is one of the most important documents to get a home loan. It is issued by the developer or housing authority. It contains details of the property and how much money the customer has paid to the builder.
Property Tax Receipts: Homeowners have to pay taxes. Also ensure that the previous owner has paid the property tax and there are no dues now. Property tax receipts also help in proving the legal status of the property.