Frequent question: What are the documents required to buy a flat in Bangalore?

What documents need to check before buying a flat in Bangalore?

Documents to check before you buy any property in Bengaluru

  1. Reviewed by Prabhakar Shetty, practising advocate at the Karnataka High Court. …
  2. a) Khata certificate. …
  3. b) Khata extract. …
  4. 4) Tax paid receipts. …
  5. 5) PTCL endorsement. …
  6. 6) Land acquisition. …
  7. 7) Family tree. …
  8. 8) General Power of Attorney.

What documents are required before buying a flat?

5 documents you must verify before buying ready-to-move flats

  • Sale deed. A sale deed tops the checklist while verifying documents for your new home. …
  • Completion/Occupancy Certificate. …
  • Building plan. …
  • Encumbrance certificate. …
  • Mutation certificate.

What is the process of buying a flat?

Get all the property, income and tax-related documents at a place and apply for the home loan as early as you can. *Once the booking amount is paid, make sure you receive an allotment letter which has all the relevant details such as flat number, size, floor and other extra charges.

What to check before buying a property?

Key legal checklist for buying a property

  1. Property documents checklist.
  2. Verify the identity of the seller.
  3. Conversion and land-use permissions.
  4. Construction approvals.
  5. Occupancy certificate.
  6. Status of tax payment.
  7. Encumbrance.
  8. Physical survey and access to the property.
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Can I sell property without Khata?

Without ‘A’ Khata, neither you can sell your property nor you can mortgage it to get loan from the bank.

What is EC for flat?

An Encumbrance Certificate or (EC) is a certificate of assurance that the concerned property is free from any legal or financial liability such as a mortgage or pending loan. (a) Need for an Encumbrance Certificate. 1. It is a mandatory document used in property transactions as evidence of free title/ownership.

How much do I need to pay for resale flat?

Private under-construction development: 20% deposit, of which at least 5% must be paid in cash. HDB resale flat: Deposit of up to $5,000 which must be paid in cash. Private resale property: Deposit of at least 5%, including an option fee of at least 1% which must be paid in cash.

What documents do you get after buying a house?

These are:

  • Title Deeds. Normally you won’t have title deeds – this is because the Land Registry records are now all digital. …
  • Copy of the lease. …
  • Management pack. …
  • Report on title. …
  • Property information form. …
  • Fittings and contents form. …
  • Warranty. …
  • Stamp duty receipt.

What precautions should be taken when selling a flat?

Legally Speaking: Things To Do Before You Sell Your House

  • Evaluate the worth of your property. The first step is to make a proper valuation of the property. …
  • Get hold of a buyer. The next step is to find a buyer. …
  • Communicate to the governing body. …
  • Legal documentation.
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Is buying a flat a good idea?

Buying a flat or a house is a significant investment, so naturally, you’ll want to ensure that you maximise your potential returns. … On the other hand, they typically have a lower purchase price than houses and the costs of maintaining the building is shared, so there is potential for high cash returns and yields.

What is the life of a flat?

The life span of a concrete structure is about 75–100 years, the average life span of an apartment is 50–60 years and a house is average 40 years. Although Eco-friendly and green constructions have a longer life span, minimal maintenance can help increase the life span of any building.

Is it good to buy flat?

Honestly Bangalore flat prices are a little higher but ‘Is buying a flat in Bangalore a good investment,’ this one thought has come to the mind of many. … If you are looking to invest in major commercial and residential areas then you need to shell out a big amount of money.

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