There is more to buying a villa than just looking for the perfect-looking home nestled within a well-connected location. Since homebuying is a capital-dense investment involving a considerable sum of your life’s savings, you need to proceed forward with caution. Do ensure that all the paperwork concerned is in order and the transaction process is transparent and above board. For those who want to buy villas in Bangalore, here’s a list of documents to look out for:
Building Plan Approval
Before construction can start, the builder has to get the building plan and layout approved along with a number of permits and certificates from the concerned departments and offices. A lack of these approvals could prove detrimental to the project.
This document proves that the building was constructed according to the approved design and has been inspected by the concerned local authorities. It is required for availing of electricity, water, and sewage connections. Moving into a villa without this document is deemed to be illegal.
The Khata contains all the details of the property including built-up area, size, location, etc., and is required for paying property taxes, getting utility connections, applying for loans, etc.
Sale and Purchase Agreement
This includes all the terms and conditions agreed to by both the buyer and the seller. It also includes the agreed cost of the property and the payment schedule.
An allotment letter gains significance when you are buying an under-construction villa in Bangalore. It gives details of the allotted home and the payments to be made – making it essential for home loan applications too.
This legal document is proof of the sale of property and transfers from the seller to the buyer. This document becomes essential in case of a resale of the home and should be kept safely.
The Mother deed is created to trace the ownership history of the property being bought. You can get this information from the Sub-registrar’s office or the Revenue office. This document may be required when applying for a home loan.
This document is issued by the builder to the homebuyer after receiving the Completion certificate. However, proof of ownership is only after receiving the Occupancy certificate.
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