The journey towards purchasing your new home is a step many of us have encountered once in our lives. This monumental step unleashes an explosion of emotions. Some of excitement, others of anticipation, and dream fulfillment. Before fast-forwarding to this exciting step of purchasing a property in Kolkata, there is one crucial step that needs to be ticked off. It is registering your property to steer away from any complications coming your way in the future.
Since it is a legal procedure, it serves as a buffer to keep you safe as a new homeowner and ensures that the process is easy. There is a crucial checklist to follow if you are a first-time home buyer hunting for a new property in Kolkata.
A Blueprint of All You Need to Know
1. The Sale Deed: Consider your home buying journey as a storybook. The sale deed is on its very first page. This important piece of information culminates all essential details of the property including the owner and seller’s information, location and agreed price. This is considered the most important step before moving ahead in the home-buying process.
- The sale deed must be signed by both parties
- Needs to be executed on a non-judicial stamp paper as per the amount by the state
- Both buyer and seller need to present proof of identity while signing
2. Identity Proof : Before you proceed with getting any legal deed stamped, it’s important to showcase your identity. It is a must to have all identity proofs before signing any of the documents.
- Passport, Voter ID, Aadhar card, or any other valid government ID will work
- A valid passport photo from both parties is a must.
3. Title Deed: The Homeownership Journey: This is literally all you need when you look at owning a luxury apartment in Kolkata. You might question, what exactly does this deed entail? Well, this holds as proof that the owner has complete rights over the property. He has the right to sell it in the future without facing any legal backlash.
- Ensure that the deed is free of any disputes and pending loans
- If it’s a property that is pre-owned, ensure that the title deed is clear from the seller’s end.
4. No Objection Certificate: Purchasing a home in a regulated property is not a small task. It comes with a list of regulated checks, one being a no-objection certificate. It’s important to ensure you have an NOC. This means that there are zero complications involved, and you are in the clear.
- A NOC from the housing society stating that zero payments are pending.
- A NOC from the lender if any home loan was involved during the purchase or building.
5. Property Tax Receipts: Property tax documents are one of the most important pieces of paper when you own a property. Having them up-to-date is a must before claiming the same.
- Avoid any non-payments, as it can lead to future complications
6. Encumbrance Certificate: This legal document serves as a health check-up card for your property. In other words, the property in Kolkata matches fitness standards and is distant from any legal liabilities.
If you want to buy one that was created earlier than previously, be sure to review or obtain this document.
7. Sale Agreement: Moving forward from the sale deed comes to sale agreement. This outline certifies all the necessary terms and conditions involved in the purchase. It is a culmination of everything that the owner and seller have agreed to while selling and buying the property.
8. Verification for Double-Check: Buying a home comes with a cost, and it’s necessary to ensure everything is on point. Double-check every document to make sure there are no loopholes whatsoever.
Celebrate with your Home Sweet Home
Once you have collated all the necessary documents and processes for your luxury apartment in Kolkata, the journey towards moving into your new home begins.
At Oswal Group, we ensure this process is seamless and stress-free. All our projects have zero hassles, and complete legal processes are completed, keeping all your future endeavours in mind. So, whether you’re looking at a new home or purchasing an already existing one, look no further than Oswal Group to make your new home hunting journey a success.
FAQs
1. What are the important property documents?
Key property documents include the sale deed, title deed, property tax receipts, encumbrance certificate, building plan approval, completion certificate, occupancy certificate, and khata certificate. They confirm ownership, ensure legality, and verify that the property is free of disputes or dues, which are necessary for purchase, sale, or transfer of property.
2. What is the main purpose of registration?
The main purpose of registration is the legal registration of ownership and transfer of property in government records. It is the documentary proof of ownership, protects from fraud or dispute, makes the transaction transparent, and makes the document enforceable according to law.