Seven Vital Documents You Must Check With Your Commercial Property Developer

If you do not look intensely into the countless vital documents necessary for purchasing property, you could end up in legal battles stretching across long periods of time. You should identify the vital documents, and meticulously assess/verify each one of them. Here are seven documents that reserve their top position in any such list:

 1. Title Deed

The title deed attests the seller's lawful right on the property in question, besides spelling out his/her rights to lease or sell the property. It also confirms that whether the property in question has more than one owner. If it does, buyer will need to get NOCs from all the listed co-owners.Most potential property buyers (especially foreigners and first-time buyers) are not aware of the existence of the title deed and the process of transferring a property or the role of the Deeds Office in the process. Those that are aware of title deeds, often have heard of it but perceive it as some phantom document, lost in the archives of a governmental department. Very few potential buyers know that these documents are extremely important and that they have a right to see the title deed of any property they are interested in buying.Property buyers should always ask their buiders/developers/agent for a copy of the title deed of the property they are interested in buying. Read it carefully and ensure that there are no servitude or restrictions which might impede on your ideas with regards to the property. If you plan to extend the existing building, look at the building restrictions. Should your plans include running a business from the property, determine the zoning of the property and ensure that your specific business can indeed be run from that property. Buying a property without seeing the title deed first, could be a serious mistake on any buyer’s part.

2. NOC Or Clearing Certificate

A NOC (no-objection certificate) or the clearing certificate from all the title-holders of the property is obligatory to avoid legal conflicts in the future. If the property be at the disposal ofa housing society, then as a buyer you must get a NOC from the respective society before putting your resources in it.

Authorities like the local water and electricity board, sewage board, the environmental board, the municipality and the income tax department need to approve the property by issuing a no-objection certificate, as well.

3. Sale Deed

The lone certificate authenticating the actual property deal is the sale deed. It is prudent to check the former sale deed of the property since it could be considered an authentic proof of the transaction between the previous owner of the property and the current owner, from whom you will be buying the property.

4. Mother Deed

As the name suggests, a property’s mother deed contains the list of all the former owners of the property. It also comprehends ownership evidence-on the land before its construction. Also known as the parent deed (for obvious reasons), it has info-with regard to change in property ownership via an instrument like sale, gift, inheritance, or partition.

5. Building Plan Approval

Once the building plans are conscripted, it is advised that the buyer must get them certified by the urban development authority in charge of your city, so as to ensure that it meets the accepted standards. Shorn of this stamp of authorization, the property could easily be deemed as illegal and unauthorized.

6. Encumbrance Certificate

An EC or the encumbrance certificate attests that the property is free of lawful disputes. One of the more significant documents, a buyer needs to apply for a property loan. To obtain the document, you will need to apply for it at the office of the local sub-registrar.

7. Completion Certificate

After the property is ready and all the construction work is complete, the municipal authorities do an in-depth andexhaustive check to see if the property is constructed in compliance with the approved building construction bylaws and plans. If the property is approved and authorized, the completion certificate is allotted.

This blog is a quick glimpse of what you as an investor must know and check for you to remain secure with your property buying. For deeper insights, please read complete information available at the government portal.

However, if you want to invest with a project that is known for its perfect, crystal-clear documentation, then you must explore the project Anthurium. An elite and cream of the crop, Anthurium – a much talked about and appreciated business park is located in sector-73, Noida. The location of the property is the heart of the city.

The project offers its buyers and stakeholders with various sorts of commercial properties that too with same quality under one roof. If the information brings any significance to your current business and/or to your future start-up and you have any plans of investing in commercial real estate, you must visit the project Anthurium personally or digitally by exploring the website at https://www.anthurium.in/

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