Friday, 3 April 2015

List of Residential plot documents

1. Conveyance / Sale deed : Document by which the title of a property is conveyed by the seller to the purchaser 

2. ULC [Urban Land (Ceiling & Regulation) Act] : 

3. 7/12 extract is a document, which shows the names of the owners of the property. It contains details such as the Survey numbers, area, date from which the current owner’s names were registered as owners. The 7/12 extract is issued by the Tehsildar or the concerned land authorities. 

4. Index II – Index II is a document issued by the office of the Sub- Registrar of Assurances. It mainly mentions the names of the sellers & purchasers of a property for which the document is registered. 

5. Search report & Title certificate – A Title certificate is issued by an advocate after conducting a search of the title of the property, which is intended to be purchased. The title certificate would state if the property is unencumbered and has a clear marketable title.(30 years) 

6. Non Agricultural (N.A) permission – 

7. Development Agreement : entered into by the builder with the landowner. It contains details regarding the terms and conditions on which the landowner has permitted development of his property. This is where the landowner engages a third party (i.e. the developer) to develop and build on their plot of land. This agreement is generally accompanied by a Power of Attorney in favour of the developer. 

8. Approved building plans need to be checked necessarily. The plans must be approved by the Municipal Corporation/ Town Planning authority or other concerned authorities like CIDCO, MHADA, HUDCO, Gram Panchayat, etc. as applicable depending on the location of the project. Approved plan of the building along with the number of floors. Check if occupancy certificate has been issued by the municipality authority with the approved of Building Plan. 

9. Commencement certificate is given by the Municipal Corporation permitting the developer to begin construction. 

10. Completion/occupation certificate is given by the concerned authorities to the developer once the said building is complete in all respects and fit for occupation. 

11. Stamp Duty & Registration: 

12. Registration of an agreement 

13. Approved layout plan 

14. ownership documents. Check if the land on which the builder is building is his or he has undertaken an agreement with a landlord. If so, check the title of the land ownership with the help of an advocate. 

15. Ensure that urban land ceiling NOC (if applicable) has been obtained or not. 

16. NOC from water and electricity authorities also have to be obtained. 

17. NOC from lift authorities. 

18. Has your builder/promoter acquired the approvals from Municipal Corporation, Area Development Authorities, Electricity Boards, Water Supply & Sewerage Boards, Airport Area Authorities? 

19. Ensure execution of proper sale agreements on your initial payments. 

20. IOD (Intimation of disapproval) 

21. Encumbrance certificate 

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