Based on the recent data, buyers are not willing to invest in under-construction projects in Kolkata. Instead, they are looking for ready-to-move flats. These not only save expenses but also come with discounts and an easy installment payment process through a home loan.

But, what about the paperwork? Here is a list of crucial documents that must be double-checked before making any deal.

Sales Deed

This is the most vital legal registered document which acts as proof for the transfer of property from one to the next. It is always advised to read the papers, go through all the terms and conditions, and then sign. This is also counted as proof for sale if you are willing to buy 2 BHK flats in Behala, Kolkata.

Completion Certificate

The municipal authorities issue a Completion certificate. This declares that the project is complete and ready for occupancy. A local government agency issues a certificate that declares that the flat is suitable for residency. These documents are essential if you are going to apply for a home loan or get water, electricity, or sanitation supply.

The Sale and Purchase Agreement

The Sale and Purchase Agreement contains a list of terms and conditions that are agreed to by both the buyer and the seller. An excellent example of this would be the negotiation for the price of the flat. The agreement would contain the agreed amount of the flat by both – the buyer and the seller.

Possession Letter

Make sure you take the possession letter from the real estate company in Kolkata you are dealing with. A possession letter sets a date that grants you the possession of the property. You will be required to produce an original copy of this document for acquiring a home loan.

Building Plan

Before approving the deal, you must go through the building plan document, which is approved by the local municipal authority. This is also called the site plan or the blueprint of the project. You get the layout of the flat where you are about to shift.

This certifies that the government has allowed the building to be constructed in that area. If you don’t have a proper building plan, then there is a risk of getting thrown out of the flat later or chances of the building getting demolished.

Encumbrance Certificate

Going through this document will help you understand whether there are any dues on the buyer’s part. This provides evidence of legal liabilities or monetary transactions associated with the property. You can get this certificate from the sub-registrar office and issue it till the date of registration of the certificate.

Mutation Certificate

It is essential to identify the property owner in terms of government records; based on this, taxes are established. This document proves the ownership and is called property mutation. These documents can help to avoid legal complications in the near future.

Conclusion

Other than this, check whether the property tax has been paid annually and is up-to-date. In the case of under-construction properties, check for a commencement certificate. This verifies that the construction is legal. And, it is issued by the local authorities only after inspection.

If you are looking for a 2 BHK flat in Kolkata, always go through the paperwork and read the purchased agreement carefully. Further, the state government has made it easier to get home loans. So, you can easily buy your dream home at Srijan Realty without much hassle.