Procedure to sell flat in Hyderabad

Selling a flat is indeed a hectic and tedious process. From correctly quoting the price to transfer of the flat on the buyers name, there are a lot of things to look after when it comes to selling the flat. So, here are a the important steps that you should follow while selling the flat in Hyderabad: A. First Step: 1. Proper valuation: The best way is to self-assess your property or take the help of a real estate expert to determine the market value of the property in question. 2. Advertisement: You can advertise your property in various ways: a. By posting detailed information about the property online on real estate websites like NoBroker. b. Post an ad in classifieds, pamphlets, newspaper and so on c. Ask people in your society and your relatives in your society to spread a word about the sale of your property. You can also post this on your Facebook or other social media accounts. d. Lastly, you can hire a broker. But then you will have to pay the brokerage amount. 3. Finalizing the buyer: Once you shortlisted the potential buyers, finalize a buyer. You should do a background check, financial capabilities and reliability of the buyer. B. Second and the most important step: 1. Obtaining permissions: You will have to get No Objection Certificates (NOCs) from your Society, Income tax authority, Municipal Corporation and any other authority. 2. Checklist of important documents: a. Letter of allotment: It is the proof of allotment of the property from the relevant authority or society, to the original buyer. b. Previous sale deeds: You should have all the sale deeds from the previous owner(s) for the transferring of the property. c. Sanctioned plan: You need to handover the approved building plan and occupation certificate issued by the competent authority to the buyer after the sales registration is completed. d. Encumbrance certificate: This is an evidence of free title. A property free of encumbrances commands a higher price in the market. C. Final Step: Transfer of Property (Sale Deed or agreement): After the completion of documentation, the seller executes a sale deed in favour of the buyer. This will be on the basis of agreement to sell entailing all terms and conditions duly listed on a non-judicial stamp paper. Once the clearance of documents is completed, both the parties will sign the sale deed for final transfer of the property.

Selling a property might sound easy but when I opted for it, I got confused a lot. I had never been into flat selling ever and thus had no idea about it. Me and my husband were living in Hyderabad for the past 7 years and were going to shift to Bangalore and thus had to sell the flat we were living in. I asked my father how to sell a flat and he explained everything to me in detail. 

Omkar Sir has precisely stated the things one needs to do in order to sell a flat so let me share with you some precautions that one must take before selling a flat.

Avail NoBroker Seller Assist Plans and let your burden of selling the property be theirs.

Things to focus upon

• At first consult with your neighbours and know the rate of the area

• Make sure that the property documents are correct and free of any dispute. If the buyer finds any dispute and later lodges a complaint about it, you can be in big trouble.

• Seek legal advice and make agreement accordingly

• Be sure that all the documents have been legally verified and talk with the buyer about everything so that no trouble arise in future

Is mutation necessary to complete the procedure to sell resale flat?

I was told by my neighbour that mutation is compulsory but when I asked my father, he said that mutation is not legally enforceable. It is important but a property can be sold without mutation being done.

The process of flat selling went smoothly for me so I hope this information will help you as well to sell your property easily. 

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