What Are Necessary Documents To Be Collected From The Builder?

Home is "not a place, it's a feeling,". It is impossible to put into words the happiness a homebuyer feels when taking ownership of his property after months of due diligence and years of waiting. Make sure all of your documentation are in order before taking ownership. Verify that you have obtained copies of all necessary original documents to collect from builder at the time of possession of the property.

• Encumbrance Certificate (EC): 

This EC document attests to the property's freedom from all debts, both financial and legal.

• Sale Deed:

The sale deed contains all the relevant information regarding the buyer and the seller of the real estate asset. We can only state that a possession has been sold in its entirety once the sale deed has been signed.

• Title Deed:

One of the most crucial records to check before purchasing a home or anything else that helps to represent the true ownership of it is the title deed. Additionally, it outlines the owner's duties and rights as well as the mortgage's rights, should the owner ever need them.

• Mother Deed:

The Mother Deed, often referred to as the parent document of a real estate, aids in determining the true history of the property and serves as a crucial document in the event of a property sale.

• Commencement certificate:

After the requirements under the Intimation of Disapproval (IOD) are satisfied, the designated authority grants the builder a commencement certificate.

• Certification of no objection: 

A NOC serves as written evidence that the project has all the necessary clearances from the relevant departments before construction can begin. These include approval from the fire department, BESCOM/BWSSB, etc.

• Occupancy certificate (OC): 

Given out by the city's civic body. A certificate of occupancy certifies that the project's construction followed the approved plan and all applicable building regulations.

• Completion certificate:

A certificate of completion certifies that the project was built in accordance with all necessary standards and laws.

• Khata: 

This legal record includes all relevant information about a property, including the owner's name, address, and building dimensions.

• Joint development agreement:

If more than one individual is in charge of the project's development, a joint development agreement is required.

• Building plan approval: 

This indicates that the local authority has given its permission to the building's structure. Your building will be an unauthorised construction without it.

• Allotment letter:

In the event that you chose to obtain a home loan, the builder will provide you an allotment letter. This must be sent to your bank in order to release the remaining cash.

• Letter of no dues from the builder:

Once all payments have been made, the builder will issue a letter saying that nothing is owed.

I hope this clarifies your query,

what are the document taken from builder after agreement.

Before approving an application for a home loan, banks and other financial organisations check the applicant's property. The applicant's property may be put up for auction by the banks to recoup bad debts in the event of a repayment default.

To answer your query,

what are the documents to be obtained from builder, I’d like to say that

the following property documents must be submitted by applicants when they apply for a home loan:

• Commencement Certificate

• Registered agreement for sale

• Approved building plan copy

• Payment receipts to the builder

• Registration receipt

• Sanction Letter

• Chain contract from the previous owner

• Occupancy Certificate

• Society maintenance bill copy

• Society Share Certificate

• Society Registration Certificate

• Possession Letter / Allotment Letter

• Copy of electricity bill

• NOC (No Objection Certificate) from society

• Property Insurance copy

I would like to conclude here about the documents to collect from builder at the time of possession of the property. I hope this helps:)

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