Documents Required to Buy A Flat in Kolkata

If you are a working individual, you must have very well been welcomed by the dream of having an apartment of your own. Every individual, be it a business owner or a working professional, tends to work day and night to make sure that they earn a substantial amount of money every month. There may have been numerous times when you may have had to stay away from your family to work extra time in your office, to earn some extra income. All these people agree to go through daily, just so that he can fulfill his dream to buy property in Kolkata.

However, there are things that you should be aware of before you even think of deciding to buy a flat anywhere. Different regions and cities have different rules set for buying pieces of property in that particular location. In this article, we will focus on the city of joy. We will discuss in detail the paperwork an individual needs while purchasing a residence in this city.

First and foremost, you must know that Kolkata has created an e-registration platform so that nobody is deprived of buying the house of their dreams. During the lockdown, everything slowed down, so the government has just made the process of getting your documents registered a tad bit more convenient. Thanks to the government's new regulations, anybody can write his documentation for a new home from the comfort of their homes.

To be able to register, even by making use of the online platform, you need to be informed about the papers required to get registered. Let us move forward with this article and talk about some crucial papers.

Documents Required to Purchase a Flat

Even though the list of documents is easy to understand, making sure you have every record at your disposal is more cumbersome than you think. These documents need to be adequately verified before you present them. You can also choose to look at the real estate laws to improve your overall understanding.

Allotment Letter

An allotment letter is a piece of paperwork that is extremely important. It is issued initially to the house's first owner; thus, while purchasing a new dwelling, you need to ask the original owner for a copy of the allotment letter. This letter is so important because it consists of details about the buyer's amount initially paid and the amount you are required to pay while you are re-buying it.

Payment Receipts

Payment Receipts refer to the evidence of the transactions between you, the seller, and the developer. You need to make sure that you collect copies of all these receipts while paying for the apartment, as you will need to produce them in front of the bank.

Sale Agreement

You must have already heard about this particular piece of documentation. This is perhaps one of the most crucial papers. It consists of details about every single stage of the purchase and sale of a home. These essential sets of more information include the possession date, pan of payment, facilities, details about common areas, and terms and conditions.

Property Tax Receipts

This is another crucial piece of paperwork as you do not want a liability on your head. When purchasing a flat, you must make sure that the owner has been paying property tax on time and is keeping all necessary records for the same. It would be best to have these receipts to ensure that all the outstanding taxes are paid.

Sale Deed

This is perhaps the document that you must keep an eye on first. It is the record of the purchase of the apartment of the first owner from the builder. If the seller does not have this paper, you must get it from the sub-registrar office.

Copy of Building Plan

You need to produce a copy of the building plan approved by a statutory body. This document is crucial if you want to take part in the world of real estate as a buyer.

Completion Certificate

If you are planning to take a home loan for buying a dwelling, then it is customary that you produce this particular certificate.

Proof of Payment of Stamp Duty

This piece of documentation you should keep handy, even before you make the payment, as it will carry information about the effective price of the home.

Possession Letter

It is customary that you take a letter of possession from whichever real estate company you buy the residence from. It will include information about when you will get custody of the flat.

Go and Buy Yours Now

This article must have enlightened you about the documents you need to buy flats in Kolkata. If you wonder which real estate companies are the best, you can very well search through popular local business and service expert listing portal and choose the one you prefer from there e.g. Haarway.