Aug 18, 2023

Important Documents to Check While Buying a Home in Mumbai

by Godrej Properties Limited

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Buying a home in Mumbai is a significant milestone in one's life, and for most individuals, it is a dream come true. However, this dream can quickly turn into a nightmare if the necessary precautions are not taken during the home-buying process. This article delves into the important documents to check while buying a home in Mumbai for potential buyers.
 

Which Documents to Check Before Buying a Flat in Mumbai?

The following is a list of all the important documents to check while buying a home in Mumbai:
 

Title Deed

The title deed confirms the seller's ownership rights and whether the property is free from any legal disputes or encumbrances. 
 

Encumbrance Certificate

An encumbrance certificate is a legal proof that the property is free from any monetary or legal liabilities. 
 

Approved Building Plan

Verify if the property's construction is in compliance with the approved building plan from the municipal authorities. This ensures that the structure is legally constructed and meets all safety standards.
 

Occupancy Certificate (OC)

The OC is issued by the municipal corporation after the completion of the building, stating that it is suitable for occupancy. Without an OC, it is illegal to inhabit the property.
 

Property Tax Receipts

Ensure that the seller has paid all property taxes up to the date of the purchase. Request copies of the latest property tax receipts to verify the tax status.

 

Sale Deed

The sale deed is the legal document that transfers ownership from the seller to the buyer. Verify its authenticity and accuracy before finalizing the purchase.
 

No Objection Certificates (NOCs)

Check if the property has obtained all the necessary NOCs from relevant authorities, such as the environmental department, water supply, and electricity board. To avoid any potential legal issues in the future, this is essential.
 

Development Agreement

If the property is part of a redevelopment project, review the development agreement between the developer and the landowner to ensure a lawful and transparent transaction.
 

Power of Attorney (POA)

If the property is being sold through a POA, verify its legitimacy and the rights granted to the attorney.
 

Conclusion: The Ultimate Checklist of Documents

Investing in a home is a life-altering decision, and in a city like Mumbai, where real estate prices are high, it becomes even more critical to exercise caution. Ensuring that all the essential documents are verified before making the purchase will safeguard buyers from potential legal hassles and financial losses. 
 

FAQs

Q: Can I proceed with the purchase if the property lacks an Occupancy Certificate (OC)?

A: No, it is illegal to occupy a property without an Occupancy Certificate. Buying such a property may lead to legal consequences and expose you to various risks. 
 

Q: How can I check if the property has any pending dues or legal disputes?

A: To verify if the property has any pending dues or legal disputes, you can obtain an Encumbrance Certificate from the concerned sub-registrar's office. 

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