Required Documents for Purchasing Flat in Hyderabad
Hyderabad is an ever-growing region. It has housed the great Nizams of India in the past and today it houses leading industries of the country. Due to vast options of jobs, people are moving in and this has led to the rise of demand for real estate properties. In this post, we will discuss what are the necessary documents required for purchasing a flat in Hyderabad.
As Hyderabad provides excellent job opportunities people are flocking in the city in search of a better lifestyle. From the IT sector to the manufacturing sector, Hyderabad is the headquarters of many industry leaders. Companies like Google, Cognizant, etc have their headquarters situated in this city.
Documents Required for Purchasing Flat
- Title deed or what is commonly referred to as Khata is a very important document for verifying the title. The property is entered in the municipal or panchayat records that allow the dealer to acquire the property title through acquisition, estate, partition, treaty, gift or grant.
- The construction of properties in Hyderabad is authorized by the Greater Hyderabad Municipal Corporation. Therefore, since the records are constantly checked, the buildings clearly need to have endorsed policies.
- Tax receipts and bills are other significant documents you need to have when you plan to buy gated community flats in Hyderabad. Keep a note of the owner’s receipts of property tax. Ensure the name matches the name of the person who paid the tax in the owner’s column. Do check the house tax receipt together with this. Ensure the current payment of electricity and water bills are done.
- The bank needs a release certificate to confirm that the loan the seller took from the bank to buy the land or the house was cleared. On the other hand, keep a note that without a release certificate, you can buy any property but you won’t get a loan in the future if the release certificate is not presented.
ALSO READ: BEST AFFORDABLE FLATS IN HYDERABAD
- A sales deed is one of the most important documents required for purchasing flat as it confirms details such as the address and the property’s entire area etc. It has the two parties ‘ fundamental information. Other details are also discussed, such as quantity, payment method, protocol, etc.
- Next in line is your Urban Land Act Certificate awarded under the Urban Land Act to distribute the metropolitan conurbations reasonably and equally.
- The owner’s details are provided in the 7/12 extract document by the tehsildar or the land authority. This document contains information of the region, poll figures and the date the present owner was enrolled as the proprietor of the estate.
- The development contract sets out the terms and conditions under which the landowner permitted the building to be carried out by the developer. A Power of Attorney in the developer’s name supports it.
- To further check, and in the event that the developer has entered into a landlord contract, property records are useful. In these matters, it is suggested that you take legal help as it can get complicated and is also vital.
- The commencement certificate is issued by Greater Hyderabad Municipal Corporation, allowing the developer to start the construction process.
- Together with the approved construction scheme, the Greater Hyderabad Municipal Corporation issues a completion or occupancy certificate and this document should also be displayed when buying a flat.
- There is also a need for non-agricultural permission to ensure that the property purchased is not for agricultural use. It is the land license given for any other use other than agriculture.
- The government of Telangana must issue a NOC certificate that allows the construction process to take place in the new or existing Hyderabad house. Water, electricity and lift officials must also issue a NOC if necessary.
- In order to demonstrate that the property is free of financial and lawful debts, it is necessary to obtain the Encumbrance Certificate issued by the Sub Registrar Office or Meeseva Centers(the EC released after 1983), otherwise, those released after 1983 may be obtained from the Sub Registrar Office.
- Finally, guarantee that the obligation is paid for stamping and registration.
If you are going to buy a flat in Hyderabad, you definitely don’t want to miss out on any of these vital points. There are plenty of websites that give you an overview of the rates if you buy either a 3 BHK Flat for Sale in Hyderabad or a 4 BHK flat. Keep a note as fruitful as it may be for you.
Buying a new construction home is a large deal and it lasts a lifetime and we all want to be very careful about it. We wish you all the best in your fortune to come!
