A. Confirm the approved plans from the appropriate authority are in place.
B. Check that all other permissions from various authorities are in place. E.g. Utility Companies, Environment clearance, Airport Authority, etc.
C. Confirm that the Land title is clear and there is no disputes/litigation (Title Certificate).
D. Confirm Builder has the Intimation of Disapproval (IOD) and commencement Certificate (CC) to start construction.
E. Have the agreement evaluated by an Advocate. Check possession date promised and provide for penalty if Builder does not deliver as agreed.
F. Check and negotiate the payment schedule.
G. Do not book in Pre-launch without executing and registering the agreement. In Maharashtra, it is mandatory for Builder to do both at inception stage itself.
Same set of documents as above. The agreement must record the title flow, the various permissions taken and the terms agreed to by the parties. In Maharashtra, the Maharashtra Ownership Flats Act, 1963 prescribes disclosures to be made, documents to be attached and even a model agreement format which is mandatory in part.
1. Approved plans
2. Title Certificate from Advocate of current date
3. Copy of IOD/Commencement Certificate
4. Stamp duty paid receipt
5. Demand Draft for payment of Registration fees.
6. Property Card showing CTS No. of plot
7. PAN cards of Sellers and Buyers
8. Khata Extract
1. Check for a duly stamped registry
2. Ensure no dues are accorded to the builder
3. Check for seller’s name in municipal records
4. Confirm seller’s membership in the society (if formed)
5. Ensure there are no pending bills, charges or taxes
6. Make sure that the property is mortgage free
7. Sanctioned Building Plan (to ensure no unauthorized construction)
8. Previous title documents (that chain of title is complete)
Same documents as above would need to be verified for checking project approvals. Confirm approved plans, other approvals such as environmental clearances are important and NOC from utility companies. Title Search must be carried out at the Sub Registrar’s office to verify title and ascertain encumbrances, if any.
1. Approved plans can be verified from the corporation or other plan sanctioning authority’s office.
2. Ownership documents of land or development rights held by the builder can be confirmed from the Sub Registrar’s office where they are registered.
3. Society share certificate can be verified from the Society itself.