May 27, 2022
The best way to check is if any bank is funding it, in case of an under-construction project. Most of the times, banks disburse loans only after all the approvals have been granted.
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The title of the property should be clear. For the new property, the construction company should have the title. For a resale one, a proprty lawyer is the best person to check the authencity of papers.
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The building should be constructed as per the sanctioned plan. You can check it online or visit the local MC office.
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For the new property, you must ensure that the developer has clearance certificates from the electricity board, water and sewage Board and other departments concerned.
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The Commencement Certificate and Occupancy Certificate are other important documents that are necessary while buying a newly built property.
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One should also see if Agreement for Sale and Sale Deed are duly stamped, executed and registered. These two documents should be in your possession after the deal is done.
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