Gera Developments NRI Buying Process
For registration, the NRI applicant should go to the registration office in the assigned area. The NRI should carry all the original documents along with photocopies of each.
a) Documents required for registration are:
Property Card of the land on which the property is being registered is situated.
No Objection Certificate (NOC) under the Urban Land Ceiling Act if the area of the land transferred exceeds the maximum limit.
Contact details such as phone number, email address, person to contact in your absence etc.
If the land belongs to a government or semi-government body then a No Objection Certificate from the government or that particular semi-government body must be produced.
If the property being sold/purchased is in an old building and the benefit of depreciation is to be claimed on the market value, following papers are required to be submitted:
Municipal Assessment Bill of the building
Building Completion Certificate
Original registered agreement between the builder and original purchaser of that flat or of any other flat in that building
b) If necessary, all the documents should be reviewed by a lawyer within 15 working days.
c) Agreement is to be done within 15 days of booking.
d) Stamp duty must be paid before the execution of agreement and as per the market value.
e) Timely payment installments as per the work stages.
f) Possession agreement is required to be done between the buyer and the seller.
g) Keys will be handed after possession agreement and upon completion of the payment.