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Must Have Documents to Buy Good Real Estate in Pune

Home Buying Process | 22nd July, 2014

Real estate in Pune has witnessed a lot of positive boost in the recent past. With the city growing in leaps and bounds, the infrastructural transformation is extremely evident and obvious...

Real estate in Pune has witnessed a lot of positive boost in the recent past. With the city growing in leaps and bounds, the infrastructural transformation is extremely evident and obvious. However, when one thinks of investing or buying a flat in Pune, one must ensure that all the legal formalities are well taken care off. Home is one of the biggest assets that we invest in. It is important that we take due diligence before finalizing any property deal. 
The booming real estate in Pune bears testimony to the popularity of this young metropolis. One could easily find great flats in Pune which are built in great localities and communities. There are few important documents that everyone must verify before finalizing the purchase of any flat.

  • Title deeds: The first step is to see the title deed of the land which you are going to buy. It is important to confirm whether the land is in the name of the seller, and that he or she is the only rightful person to sell the land. Do not invest in a property that does not have an authentic title deed.
  • Documents: Ensure that the seller of the property has all the updated documents pertaining to the discussed property. If possible, ask for copies of original documents and get them verified by your lawyer or legal advisor to rule out the possibility of any hidden clause.
  • Approved layout: Get a copy of the approved layout for the building or project from your builder or seller of the property.
  • Encumbrance Certificate: Before buying any property, make sure that the land does not have any pending legal dues. An encumbrance certificate is issued from the sub registrar’s office, where the deed has been registered as a proof of the same.
  • Intimation of Disapproval (IOD): IOD are a set of instructions issued by the respective authorities to the builders while the building is being constructed. Normally, it is issued for a period of one year and then, reissued in case the project still awaits completion.
  • Building Completion Certificate: Issued by the Municipal Authorities. This certificate establishes whether the building complies with the rules of building height, distance from road etc.
  • Occupation Certificate: It is important to have an original copy of the occupation certificate, which is issued by the Municipal Corporation of the locality when the building is ready for occupation.

So, the next time you plant to invest in some good real estate in Pune, or any other city for that matter, ensure that you have verified all the documents, and have done a thorough study of the same. It is not every day that you buy your dream home, so when you buy it, make sure you buy it the right way.

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