21/03/2011

Some points to be ensured before Property Registration

I have purchased one 2 BHK flat after obtaining, housing loan from Bank as  it was my first encounter in real estate so I was not aware about the things should be ensured before registration. But to make this first encounter successful , I gather much information about the things should be ensure before registration. As purchasing of a house was not a simple thing for me, it was a life long earning and saving. As per my experience what are the thing should be ensured before registration are:





  1. Read carefully the agreement documents prepared by the builder. Ensure documents correctly stamped as per the stamp duty ready reckoner and market value of flats. The Stamp duty ready reckoner is available in registrar's office. Document should be typed. Go with original and one one sided photocopy of original documents. Photocopy/ print of the original documents should be on thick paper.
  2. If land belongs to Government or any trust, No objection Certificate from competent authority must be obtained.
  3. Check the No objection certificates from various government agency regarding legal ownership of land/flat and necessary clearance from Government agencies
  4. Original Stamp duty payment receipt.
  5. Go with minimum two witnesses. It is advisable that witnesses should be reliable and reputed personals from the nearby locality.
  6. Ensure you have PAN card and quote the PAN Number.
  7. If property you are purchasing is old and you are requesting for benefit of depreciation then ensure you have any documents which established the date of construction of the building. You should bring any one document like , Building completion certificate, Occupation certificate or original registration paper of the building between old builder and old purchaser.


This list is not exhaustive but I think it will help you lots