Documents you must have when buying a Property

Buying a property is a very important investment for anyone and the experience is totally different when it is about the first property. In order to make that experience a good experience there are a few points that you must keep in mind. If you do not want to fall into the legal Hassels then remember that documentation plays a really important part during the property transactions.

Many buyers find this documentation tricky, but to be honest if you have a fair idea about the documents needed then this process is really Hassle free.

Let us see what all documents you as a buyer must have before buying a property in Original booking.

Indian Citizen:

According to the law, any person born in India, on or after 26 January 1950 to the commencement of the 1986 Act on 1 July 1987, is a citizen of India by birth. After 1 July 1987, a person is a citizen of India if either parent was a citizen of India at the time of the birth. After 3 December 2004, the person is citizen of India only if both of their parents are citizens of India or if one parent is a citizen of India and the other is not an illegal migrant at the time of their birth.

For Indian Citizens the mandatory documents are:

• PAN Card
• Photo ID Proof
• Address Proof
• Photographs – 2 to 6

NRI

An NRI is a citizen of India who holds an Indian passport and has been immigrated to another country over six months for work or residence etc.

For Indian Citizens the mandatory documents are:

• PAN Card
• Photo ID Proof
• Address Proof
• Photographs – 2 to 6
• Valid Visa
• If green card holder, then the person needs to produce NRO/NRE Bank account details

In India, there are just 3 banks that provide this facility: American Express, HSBC and Citibank.

Coming to Resale property, following is the list of the documents required:

When it comes to buying a Property in Resale, then the things get a bit trickier. Lots of other documents get involved and legal procedures increase. We share with you a list of mandatory documents with you, along with the identification certificates.

• Share certificate issued by the society
• Lease deed of society
• Registration details of the society
• Bye-laws of the society
• No objection certificate from the society
• Approved building plan
• Title of builder
• Undertaking from society
• Allocation letter, Allotment letter and Possession letter
• Receipts of payments made to authority
• Permission to mortgage
• Authorization letter signed from seller
• Receipts of payments made by purchaser to seller
• Verification of signature of seller from his bank

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