A Checklist of Credentials for Buying an Apartment in Kolkata

When you buy a new home, paperwork is of utmost importance. There are several things to remember when it comes to buying a property. Buying a home is not just a dream-come-true but at the same time, a lot of risks are involved in it. So, if you are planning to invest in an apartment, for example, a residential property in South Kolkata, make sure you take careful attention of the entire process. In fact, checking the following documents is the most important criterion to analyse while buying a new apartment: 

Title Deed

This is one of the most important aspects that you need to consider before you invest. By checking out this document you will get to identify whether the developer owns the residential property or not. Only if the builder has the full right, he will be able to provide you with the document’s original copy. From the document, you will get to know if there is any kind of court case associated with the property or not. 

Sanction Plan

Every builder is supposed to get the building plan approved from the local planning authority right at the beginning of the construction. In order to get the approval of the sanctioned plan, the developer/builder has to submit the necessary documents. So, when you buy an apartment, make sure the builder shows you the sanctioned plan.

Tax Receipt

Make sure the property owner gives you the legal tax pay receipt because without this the government have all rights to impose a penalty every month. 

Encumbrance Certificate

This particular document will help you know whether the property that you will be buying, carries any monetary or legal liability or not.

Commencement Certificate

Check whether your builder has the commencement certificate or not. They are supposed to get the certificate before the construction work starts.  The local authorities are responsible to issue the certificate to the builders, thereby, legally allowing them to go ahead with the concerned construction works.

The Purchase Agreement

Carefully go through your purchase agreement to ensure that it has everything that the developer has promised. In any case, if you find that there are things missing in the agreement as verbally promised by the builder then you can easily hold the builder liable. Make sure the agreement includes details regarding the project specification, completion deadline, about the penalty if there is any default and so on.

Do not forget to check all the above mentioned documents to have a safe and hassle-free ownership of your new apartment.