Buying A Villa? Put A Tick On These Legal Papers

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January 20, 2019
Buying A Villa? Put A Tick On These Legal Papers

Builders and sometimes even buyers are cavalier when purchasing a villa or a home. They do not consider that the lack of proper documents can land them in big trouble later on. To keep you out of hot water, we made a checklist of all the documents that you should have.

  • The sale deed which shows the name of the current owner of the land and how they acquired it.
  • The title deed comes prior to the sale deed. Examine it for genuineness along with the Records of Rights and Tenancy Corps or Mutation extract.
  • If there is a power of attorney, insist on taking a look at that too.
  • The Khata certificate again has to be in the name of the current owner else it can’t be transferred to the buyer.
  • Tax receipts are essential to ensure all taxes have been paid till date.
  • If the villa is made by developers, who took a loan to complete the project check if it has been released from the bank mortgage.
  • If the villa is brand new, then take the last water and electricity bill from the previous owners to make sure everything is A-Okay, and no problems occur at a forthcoming date.

6 Comments

  1. Vakilsearch Team - GST Registration says:

    Buying a home or villa can drastically affect your tax returns. For people who just have a precursory knowledge of the tax system, our team of experts come to your rescue. Our professionals are experts at GST Registration and taxes of all nature. Instead of getting in the quagmire of what it takes to file as a deductible expense and the paperwork required along with it, our professionals handle the process for you. Our advisory team also offer you guidance on the process of sale deed, property registration, and verification!

    • Villapp Team says:

      You are absolutely right, team Vakil Search. Buying a villa can have a drastic effect on tax returns. Getting professional help for the GST registration becomes a necessity. Thank you Vakil Search for such an insightful comment. We went through your web page and was very impressed. Highly appreciate you guys for the professional assistance you offer.

  2. Nikil says:

    The article does superb work of pointing out all the main documents needed while buying a villa, but one more that must be checked is the NOC from RWA. This is important if the villa was occupied by other owners previously. The paper proves that all dues have been paid.

  3. Michael says:

    Great, succinct article that covers the checklist comprehensively. Though do note that for new villas, the one document that should always be asked by buyers is the NOC given by Urban Land Ceiling and Regulation Act. I think it is one of the essential papers while purchasing a home.

  4. Barath says:

    After reading the post, we called VakilSearch to help up in the process of buying a villa. They pointed out a distinctive element. When the seller of the property and the developer are different, ask for a sale and construction agreement! It should be drawn in favour of the seller.

  5. Ranveer says:

    Fantastic post. It came handy while we bought our home recently in Chennai. Besides all the documents listed in the article, we also asked for all previously registered agreements since the property was being re-sold by the first owners!

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