List of Documents Required for Under-Construction and Ready to Move In Projects

As rightly said by many, Real Estate is about 3 things.
Location, Location and Location!
But there is a 4th angle to it, which comprises of Legal Aspects in relation to a property.

The basic ingredient of A property whether under-construction or ready to move in is Land. Land has many owners who exchange hands over a period of time. Generally, when a buyer goes for legal verification of a property whether under-construction or ready to move in, he/she prefers to hire a lawyer who gives a Title Search Report whether a property in discussion is saleable or not.

Lets just see below what all things does a lawyer look for in a Property :

1. 7/12 Extract :
Its an important document which gives the lawyer an idea about the history of the land on which the building stands. It indicates whether the Land is brought on an outright basis or is leased. In Simple terms, Freehold or Leasehold Land. It also gives an history of any dues pending on the land or litigations if any. Post 1st May, 2017 this important piece of information is readily available online on Maha Rera Website of any ongoing/ under-construction project in Maharashtra.

2. 6/12 Extract or Mutation Entries:
This document reflects how many times the land has changed hands and who were the previous owners of the land, what all rights were created, transferred by the legal heirs or other person. It generally reflects mutation entries pertaining to different types of rights created on a piece of land.

3. Tax Paid Receipts :
This particular document will give the prospective owner an idea whether all the Tax Receipts with respect to the land/apartment/property concerned are paid and no dues are pending with various government agencies/ department. It's an important document to give the lawyer of the prospective buyer an idea to give a Title Search Report. If there are any due's pending, the prospective buyer can ask the seller to clear all the dues before the property exchanges hands.

4. Encumbrance Certificate :
This document provides an history of any mortgage that the seller or previous sellers have created. In case of buying a property on loan a nil encumbrance certificate is provided to give the lender a clear evidence of the property to be purchased on loan without any pre-existing liability getting transferred to the new owner. In case the buyer fails to get this document verified from various government departments, he may have to deal with a property whose liability may fall on his head, thus providing a double whammy to him financially.

5. Agreement for Sale/ Sale Deed :
This is the most important document which clearly specifies that a sale has taken place between the buyer and the seller on agreed terms which are legally binding and enforceable by law.

6. Building Plan :
A Building Plan is a plan approved by the Municipal Corporation of a Particular area where the land falls. Its a plan which gives the buyer an idea whether the building adheres to the terms and conditions laid down by the Municipal Corporation and is built accordingly. Any additional construction or violation of the Building Plan runs the risks of been denied an Occupancy Certificate or Building Completion Certificate.

7. Occupation Certificate :
An Occupation Certificate is issued to the Builder or Developer of the land once the project is completed/ habitable and is in sync with the terms and conditions laid down by the Municipal Corporation in the Building Plan of the project. If there is any violation of the rules and regulation by the Developer, Occupancy certificate is not granted. If Occupancy Certificate is not issued, the society will be in trouble for securing all the amenities like Water Supply, Electricity Connection and other essential things if any provided by the municipal corporation.

8. Building Completion Certificate :
Building Completion Certificate is different from Occupancy Certificate. Building Completion Certificate is provided when the Building which stands on the Land has kept all the provisions in place like distance from the Main road, storm water drainage facility, sewage treatment plan, any existing construction waste being kept in the premises are cleared.

9. Conveyance/ Deemed Conveyance :
In case of buying an apartment in resale, conveyance/ deemed conveyance is an important document, which clearly states that the said property is transferred to the Society formed after the Builder hands over the apartments to the buyers. Hence, the Society becomes the owner of the Land. This is an important document because whenever a society goes for redevelopment, it will require this conveyance or title deed to let the new builder redevelop the property.

The above are the basic documents which are required and gives the owner an overall idea whether the flat/ apartment he/she is looking to buy has a clear saleable title.