Are you planning to buy property in Mumbai? It’s an exciting and important choice, but ensuring you have all the required paperwork in order before moving forward is essential. When purchasing real estate, a significant financial commitment is made, thus it is crucial to confirm the property’s legitimacy and legality. In this article we will walk you through the necessary paperwork to review before purchasing a Mumbai property from a builder.
Title Certificate of the Property:
Examining the title certificate is one of the most important papers. It demonstrates the builder’s ownership rights over the land and verifies that there are no unresolved legal issues or claims pertaining to it. Confirm that the builder is the legitimate owner of the property on which construction is taking place.
Property Card:
The property card gives extensive information on the property, including its location, measurements, and tax records. Additionally, it confirms if the property is legitimately registered with the Greater Mumbai Municipal Corporation (MCGM). Get a copy of the property card from the builder, then confirm the information with the property’s actual features.
Builders’ Development Agreement – Society:
The agreement between the builder and the society or the current property owners on the rebuilding of the building is outlined in the registered redevelopment agreement. It outlines the parties’ respective rights, obligations, entitlements, responsibilities, and profit-sharing plans. Reviewing this document to confirm that the builder is authorised to carry out the redevelopment project and sell the residential and/or commercial space within the building.
MCGM IOD, CC, and OC Permissions:
Several permits are issued by the Municipal Corporation of Greater Mumbai (MCGM) when a building is constructed. The essential authorisations are:
a. Intimation of Disapproval (IOD):
This document approves the builder’s construction plans, including layout, features, and design. Confirm that the builder has received the IOD before construction.
b. Commencement Certificate (CC):
Once work has started and the existing building has been removed, the CC is given. This further ensures that the project is being built in accordance with the authorised designs. Request a copy of the CC to confirm compliance.
c. Occupancy Certificate (OC):
After construction is complete, the MCGM issues the OC, certifying that the building meets all regulatory standards and is ready for occupancy. Verifying the OC before finalizing your purchase assures that the building is both safe and legally livable.
MahaRera Certificate:
In order to safeguard the interests of purchasers of real estate and oversee the real estate industry, the Maharashtra Real Estate Regulatory Authority (MahaRERA) was founded. All real estate transactions, including property sales, must be registered with MahaRERA. This registration promotes transparency and accountability in real estate  transactions. Check that the builder for the project you are interested in has gotten the MahaRERA certification.
Extra Property Records to Examine:
Apart from the particular papers stated above, it is also advisable to study supplementary documents such as:
Sale Agreement: The terms and circumstances of the sale, such as the purchase price, payment plan, date of possession, and default penalties, are outlined in the selling agreement. Make sure the selling agreement complies with the law and is fair.
Building Designs and Permits: Get copies of the builder’s authorised building designs, layout, and any other relevant permits. This will offer you an insight of the standard of construction and compliance with rules.
Encumbrance Certificate: This document attests to the fact that there are no liens, mortgages, or ongoing legal disputes associated with the property.
NOC from Society: Make sure the builder obtains a No Objection Certificate (NOC) from the housing society if the building is a part of one. This certifies that there are no objections to the sale of the premises.
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