After buying a house, we tend to relax and think that we have completed entire process..Unfortunately we are wrong and there is a lot need to be done after buying a house, infact it is as hectic as buying a house..I am listing down 10 Things You Must Do Immediately After Buying a House which are very critical & should be completed as fast as possible.
1. Storage of Property Documents: Immediately after buying a house or land, you should make atleast 2-3 set of photocopy of all documents related to purchase. If you have bought house on Loan then kindly ensure you have taken a photocopy of all the documents before handing over the originals to bank…Trust me its very difficult to get photocopy of documents from bank. All the original documents with u should be stored properly & safely either in Bank Safe or you can install electronic safe in house & keep your original documents in safe. The 3 photocopy sets with you should be stored at 3 different locations. One set can be kept at home for reference so that u need to pull out originals if u need any detail, Second set can be kept with any trustworthy person whom u can trust either your parents or siblings and 3rd set can be kept in your office (Pls ensure the keys of cupboard is only with u else its not safe).
2. Digitalization of Documents: It is always advisable to scan complete set of documents and can be stored in digital form either in external hard disk or cut 4 DVD’s..Again keep 1 DVD in Bank Locker, 2nd at Home & 3rd in your office and handover 4th one to any trustworthy person. Digitalization of record always helps in emergency.
3. List of original Documents submitted with Bank: From the day you start processing your Home Loan..Kindly make a list of documents you are submitting with bank & keep photocopy with u. On the day of registry you must have handed over original sale deed and other imp original documents with bank…Immediately after that ask Bank to issue a letter mentioning all original documents submitted by you to bank…I had bad experience in this regard as the list issued by HDFC was incomplete..Thankfully i was maintaining record of all documents, i was submitting to bank as and when required…After hard fight and escalation to top level, finally i got complete list of documents, which i submitted with HDFC..Any ignorance in this area can cause major problem for u in future becoz banks only go by records & after 15-20 years no one will trust you on what all docs u submitted at the time of availaing loan so start following up with bank from next day of registration to issue list of docs with bank….Secondly some banks sign & seal the self declaration from your end that you have submitted following docs with bank but always insist on list of documents issued on bank’s letter head mentioning that bank has received following documents from your end.
4. Watermark your Sale Deed: After registration, you might need to handover photocopy of your sale deed for electricity meter transfer, Property tax transfer, with society/association etc..Normally ppl take help of agents for all this work & handover photocopy of sale deed to agents…It is very very unsafe practice and can lead to misuse of sale deed…It is advisable to create watermark copy of sale deed using adobe writer and watermark it with Do Not Copy…Always handover watermark copy to agents or in Govt offices.
5. Transfer of Electricity / Water Meter in your Name: Most important activity after buying a house. Immediately after buying a house transfer electricity & water meters in your name…Infact before property registration, find out NOC format for such transfers and take signature of previous owner on NOC at the time of registration only…After getting his money, he might not listen to u :). Electricity & Water Meter in your name are most reliable & authentic proofs of property ownership.
6. Transfer name in Property tax / Khata / EC records with local Municipal Body: Next important task after buying a house is to transfer Property tax records, EC & Khata in your name…Some people assume that it will be done automatically based on property registration but i am sorry friend, we are living in India and nothing moves on its own so start follow up on this process as soon as u can.
7. Transfer Society Share certificate in your name: In all apartments each property owner has undivided lad share and Society Shares…It is important to transfer the same in your need or u need to request for amendement in deed of declaration. For this u need to handover photocopy of sale deed immediately after buying a house and request for share transfer or amendement in deed of declaration.
8. Make a Will: Property investment is very big investment and it is very important & critical to make a will mentioning who will inherit property purchased by u, in the event of any unfortunate incident..Normally ppl at young age tend to ignore this and think that what will happen to us but we are wrong..Lets accept life is very uncertain and if we want that our dependents should not suffer after us then its our responsibility to care of this.
9. Update all Records with new address: You can update your address records like Passport, Banks, Investments, Driving license, Ration card, Voter Id etc. It is always advisable to update ur permanent address after buying a house in all records even if u r not staying their.
10. Check with Local Property lawyer: Last but not the least, check with good local property lawyer if u missed out on any important administrative point as per rules and regulations of ur area.
Above mentioned tasks are very important & to be completed after buying a house. After finishing these tasks, you can sit back, relax and enjoy a cup of tea in balcony of your flat.
Hope i have covered all the must do things after Buying a House.
Copyright © 2011-2012 Nitin Bhatia. All Rights Reserved.
I think Digitalization of document is important as it secure you from loosing out your documents. You can have them saved somewhere on your desktop or laptop and print whenever needed. Even all other listed points are equally important and one should do all this things immediately after buying home.
I was thinking to scan all the registry papers but worried that what if someone could misuse the scan file to prepare forge documents……… i dont know how easy or complicated is that ……..may be its just my hox.
You can password protect the scanned documents to avoid misuse.
Dropbox + Encryption and you should be safe with important documents on the cloud
Thanks for providing valuable guidelines in property matters.
Ravi Delhi
Thank you so much for pouring out such valuable informations regarding all property matters.After following all your instructions a person will really feel relaxed having a cup of coffee/tea in his or her own balcony.”GOD BLESS YOU” Josphine Mumbai.
My Pleasure !!!. Am glad u liked my blog. Thanks :)
Hi Nitin,
I am Confused of Declaring Investments in my Current Company. I have Taken Flat in Bangalore and Registration is Done, EMI also started deducting from September Month but i am moving to my flat in january 2015 till then i will be in rented house. So in this case can i show both HRA and Interest paying to the bank (Self Occupied Property ) as i have not get clear information about this. Could you Please suggest on this.
Please let me know whether flat is under construction or ready to move in.
Hi Nitin,
Flat is Ready to move in.
You can declare your flat as Let out and can claim both HRA and Loss from let out property. In this case, you will not get any tax deduction on principal component u/s 80C. Interest deduction can be claimed on actuals.
Hi Nitin
I have sold my flat. Now the buyer is asking for my original property documents. Before giving the documents to him, should I take a letter from the buyer that what documents have given by me. Please give me the letter format.
Hi Sanjay,
After you sold the flat, The buyer has right on all the original property documents. There is no need for any letter. It is responsibility of buyer to take documents from seller at the time of sale. Once transaction is completed there is no responsibility of seller in this regard. You may keep the photocopy of all documents for your reference.
Dear Nitin,
Its a real valuable guidelines .must all property owners should know this .Thanks again Nitin .
Dear Nitin,
Thanks so much for the insight. Can you pls mail any standard format of Acknowledgement Letter to be taken from Bank for original Documents submitted to them. My Email Id: manan.mhta@gmail.com.
Thanks in Advance.
There is no standard format as such..Bank should certify that they have received original documents and all documents should be mentioned in the letter. For imp documents the doc no and date should be included e.g. Sale Deed no DL/2013/09/2345 between Mr A & Mr B dated Sep 13, 2013
hi Nitin
I have a property in Ghazibad bought in 2005 from first owner of house who was having a running loan with ICICI bank. At the time of purchase I have also taken loan from ICICI bank. Bank said it would pay part of loan of first owner and rest will be internally transferred. Now I have repaid my loan and wanted to sell the property. but somehow after repaying loan I have not received complete document set. My Sale deed/ First owner’s allotment is available. First owner’s sales deed missing and chasing bank last 8 months now they are not declaring any thing. I am at loss as after repaying loan also not able to sale property. Please advise. if you can suggest if I should file consumer court complaint on this. any advise on lawyer in Ghaziabad?
Immediately register Police FIR against bank regarding same. Submit copy of Police FIR with bank. Bank is responsible to put a public notice in 2 newspaper mentioning that it has lost the property documents of your property.
Then u obtain indemnity bond from bank and then bank will obtain certified copies of your documents from registrar office (You need not to do anything). At the same time, you can take affidavit from bank and submit to registrar of co-operative societies that your original documents are lost by bank to avoid any fraud. You can also request for duplicate share certificate from society by submitting Police FIR.
Also you can file complaint in consumer forum and claim compensation from bank for deficiency of service. You can demand compensation equivalent to double the value of your property. In such cases decision is always in favor of customer.
Besides compensation, bank is also liable to pay 100 Rs per day if there is delay in providing documents beyond 15 days from date of loan closure. This is over and above compensation for deficiency in service.
Last but not least all the cost will be borne by the bank.
Hello Mr nitin,
recently i had a sale agreement to buy a property (flat in a newly built apartment)
Fwg r the doc (XEROX only) i received from the seller to apply for a home loan
Sale deed (Dt – Aug 1996)
Link document (Dt May 1996)
Urban land (Ceiling & Regulation)
LRS
EC from 1996 to 2014
Legal opinion of the land
Building permit order
Bulding layout plan duly signed by competent
Now pl tell me, what else doc i need to take from the seller
and also mention, which doc must be in original, i have to take from the seller
since it is a new construction. owners assoc of the apartment is yet to be formed
then from whom i have to take a NOC and no due certificate
seller told me that, he have no any property tax receipts since it is a new construction
Pl advice me in detail ,what all the doc i must posses to avoid any type of issues in future.
Pls check my following post
https://www.nitinbhatia.in/real-estate/list-of-documents-required-for-property-purchase-or-home-loan/
Dear Nitin, Unfortunately I could not take photocopy of my property before I submitted the originals to bank. Right now I do not have the duplicate documents and even the list I do not have. Can you kindly suggest me if I can request the bank for the duplicate set of documents. I am dealing with AXIS Bank.
Just submit a written application on plain paper with bank and take acknowledgement. You will receive the photocopy of all documents at your registered address within 15 days.
Hi nitin I have some prob regarding my land docs . My father purchased land from caste society .my father has all important documents including share certificate . However my uncle is claiming that it was his property although I have sufficient docs. What else required to prevent from this dispute ???
You have not mentioned on what basis your uncle is claiming property. It seems he is claiming under Hindu Succession Act. You should establish the source of money. If the property is bought by your father from own source than your uncle don’t have any claim on property. If your uncle prove that the property was purchased by or from the money of your grand father i.e. its a parental property than property will be divided as per Hindu Succession Act.
Sir I have sent you mail plz reply soon
For the benefit of other readers, i request you to post your query in comments section or in Q&A forum. Thanks
Excellent info. Very practical.
Thanks for liking the post !!!
dear sir pls tell me give a photocopy to property dealer
I will not suggest
It is imp to know the content of indemnity bond. Please share key content of Indemnity bond.
sir,
i, K.sudhakar s/o …. residing no 46, s1…. Chennai. do hereby execute this bond of Indemnity on this 15th May 2013.
1. whereas i applied for loan of Rs…. from HDFC Limited and same has been sanctioned under file no.
2. whereas i have indentifed to purchase a property at plot 26,….. chennai. developed by TB builders for Rs, ….(total cost).
3. whereas the plan sanction for the said property is silt+2 with 4 dewelling units(2 per floor). however the builder has chosen to deviate from the approved plan and as put up 1 unit in ground floor.
4.i have been advised by hdfc about the repercussions of such deviations i have understood the same. i have understood the same .
5. i am fully aware of the consequences of the devations mentioned above and i hereby undertake to indemnity HDFC of any loss the may occur….
6. whereas i have agreed to execute this indemnity, i shall, at all timeshereafter remain liable for and shall fully and effectulay indemnify hdfc, their executors, administrator and assigns against all lossess and dameges cost which they may put incur or suffer by reason of the above mentioned deviations made by the builder from approved plan.
please suggest sir and advice. we plan to go by next month.
In my opinion, this indemnity bond does not have any legal value. It was executed only to safeguard the interest of HDFC for Home Loan. It seems builder tied up with HDFC and HDFC would have requested for this indemnity bond from builder before sanctioning Home Loan.
The association may file a legal case against builder to demolish the unauthorized construction.
Sir,
I recently purchased a re-sale unused flat. When i went to apply for electricity connection i was informed that Builder has not taken NOC from Pollution Board hence they cannot provide me the electric connection. When i speak to Builder they said soon it will be taken and for the time being you can get electricity by using a Sub-Meter. I felt cheated and even the lawyer report from HDFC bank missed on this. (I took loan from HDFC). I also came to know that there are others in the society who have been using Sub-meters from last 1.5 years. Sir, please suggest what can be done in my case.
Till all the govt permissions are taken by the builder, you will not get electricity connection in your name. If the association is formed then association may pressurize the builder to expedite approval process.
Though HDFC should have checked this point but for under construction project, some approvals are always pending and lender think that builder will take these approvals in due course.
Hi Nitin,
I bought a seconf hand flat from a previous owner 3 years back. I am paying the tax for this property for the last 3 years on the first owners name since the Khata is not transfered. I want to do the Khata transfer now, is there any hasles if I initiate a Khata transfer after 3 years of registring the property.
Anand
You can initiate Khata Transfer process but 1st you need to get the name changed in property tax records as Property Tax receipt is required for Khata Transfer. Property tax receipt should be in your name.
Thanks Nitin for your reply, Can you please tell me how can I initiate name change in property tax receipt as the name is automatically copied from PID number
You may approach BBMP office and submit copy of sale deed and last year’s property tax paid receipt to get it changed
Dear Nitin,
I am going to buy a resale flat in kolkata (excellent communication). The flat is 12 years old. Papers are all okay. The flat owner wants to sale the flat in 24 lakh but 18 lakh is registry deed and remaining in cash to save capital gain tax. By this I can also save some registration fees. But in future for reselling I will have to pay more capital gain tax.
1. My question is for resale flat is it okay to pay some money in cash?
2. Is it a good investment to buy a 12 years old resale flat? In future could I resale the flat again with good price?
3-. How longer bank loan will be available to buy this flat?
1. I will not suggest
2. You may buy depending on construction quality and location
3. Bank provide Home Loan for upto 25-30 year old property
Dear Mr. Nitin, Thanks for your write-up which is lucid and timely.
I’m requesting your advice on the following 2 items in case of a resale flat at Bangalore;
1) Can the buyer insist on receiving a copy of Legal report of the Bank from whom I’m taking loan. In my case it is HDFC.
2) After registration, who has the right to retain the original documents of the seller, for eg the original Sale Deed, Khata, Tax Receipts of the seller.
Many thanks in advance.
1. No you cannot demand.
2. HDFC will take all original documents as security and will issue letter stating all original documents submitted by you with HDFC.
Dear Mr. Bhatia,
I recently purchased a flat from a reputed builder (so i thought), financed it through LIC and started making payments. The flat registration is not complete because the builder didn’t do the handover yet. Apparently there are still a few items pending approval such as electricity, water connection etc. and few other final approvals. I requested the builder to give me a indemnity bond/certificate for my flat as a legal protection but the builder has been non-responsive. What are my options? Is it within my rights to request an indemnity bond and can a builder deny such a request. Please let me know.
Thank you in advance.
Builder will not issue indemnity bond. Instead of indemnity bond, you should ask for all statutory approvals which builder cannot deny. Normally 15-20 approvals are required like approval from Pollution Control Board, Electricity and Water departments etc
At the time of possession, you may ask for Occupancy Certificate, Completion Certificate. If all statutory approvals are in place then you don’t need indemnity bond.
Hi Mr Bhatia,
I am selling my flat wherein th buyer is seeking a bank loan. A agreement to sale is executed (but not registerd) and we will be shortly signing the sale deed. I wanted to know,
a. when do I have to handover the original property documents (while signing the sale deed, or at the time of receiving the final disbursement cheque from the bank)
b. To whom do I handover the original documents (to the bank directly or to the buyer)
c. Are there any original property documents/ agreements that I need to retain with myself for any future reference.
Thanks.
a. At the time of execution of sale deed in sub-registrar office, buyer will handover cheques (full and final settlement) and you will handover all original property related documents to buyer
b. To buyer only and do mention in sale deed that you have handed over all original documents to him. You should not deal with buyers bank
c. After the sale, buyer has rights on all the original documents. You will not retain any originals with you. For your reference, you may keep photocopy of all the documents.
Thanks for the reply Nitin. I am not clear on your reply to point a. The buyer will not be giving me the full & final settlement cheque at the time of agreement signing at the sub-registrar’s office. He will be only giving me the balance portion of the margin money and then submitting the sale deed to his bank who will then issue the full & final disbursement cheque. So should I still handover the original documents to the buyer at the time of signing the sale deed? Thanks again.
The process shared by me in point a is standard process provided seller has not availed any Home Loan. The buyers Home Loan provider hold the payment only if seller has to close his/her home loan. Reason buyers home loan provider receive original documents with sellers home loan provider only after 2-3 weeks therefore 10% of Home Loan amount is put on HOLD. It seems you don’t have running Home Loan.
Your case will be catch 22 situation as sellers home loan provider will not release full amount till all originals are submitted and if you submit all originals without full payment then it will weaken your position. Seems buyer is availing home loan from LICHFL or DHFL as they only follow these kind of processes.
If there is deadlock on this then only solution is to sign a irrevocable bond in court, the key clause will be that you are submitting all original documents without full and final settlement and seller is obliged to clear pending payment within X no of days. For delay there should be penalty and beyond Y no of days deal will be canceled. There should not be any mention of buyers Home loan provider as you don’t have any direct dealing with buyers Home Loan bank. Your all documentation should be with buyer without any mention and involvement of buyers Home Loan provider.
Hope i clarified
Thanks for the prompt and detailed response. This is good information.
This is very good reply.I am also in same dilemma.I am selling my property to a buyer who is availing Loan from DHFL. I will be taking margin amount ie Deal amount minus the Loan amount . What i want to know is:
1)After the buyer pays me the margin amount,Should i enter in “Agreement for Sale” and register it.
2)Is this registered agreement OK with the financer(DHFL) to release the Loan amount cheque.
3)Should i enter into sale deed and register it only after i physically see the cheque.
4)Should i hand over the original documents after sale deed is registered.
5)Should i take unconditional loan approval letter from DHFL that Loan is approved .
6)In worst case How to Make irrevocable bond.
1. Yes. Mention the timeline to complete the deal else will be cancelled
2. Hope so. Buyer need to check.
3. DHFL should agree and it has to be done within 4 month. Who will bear the penalty for delay in registration, kindly discuss with buyer.
4. Its your risk. I will not suggest till full payment is received
5. Sorry, i could not understand what is unconditional loan
6. Its a sort of oath in front of magistrate
Hi Mr Bhatia,
We bought a house in indirapuram, Ghaziabad, UP. After 1 month we saw that address on the registry is wrong. On the first page of registry its correct on second page it has been 969 instead of 996. We bought this house from some one. So if you can tell the possible steps in order to correct this mistake.
Its a minor error. You can execute rectification deed to get it corrected.
Hi Nitin,
I have taken a loan from HDFC and my original registered documents are with the bank. I do not have a copy of the registered documents. How can I get it from HDFC? Can you please suggest?
Thanks & Regards,
Anil
You may submit a request through HDFC call center or an application on plain paper in nearest branch. You will receive photocopy of all documents at your registered address within 2-3 weeks time.
Dear Nitin,
My Father had bought a property in Rajkot Gujarat in 1991. We had just arrived from the Gulf during the first gulf war crisis. At that time he was not aware of the legal documents required. He died in 1998. Now when I tried to collect all the documents to get a home improvement loan I realize we don’t have a Plan Pass document from the Municipal Corporation and therefore won’t get a loan.
The house is located in a closed street and the breadth of the street is around 6 feet which is not accepted as per the town planning rules today. While looking for a solution I came to know more than 90% houses in Rajkot do not have this document. The government had also come up with the impact fee option in 2011 which again I wasn’t aware of to regularize all properties but it seems they did not get an enthusiastic response. At this point I have taken a personal loan which is high on interest and the monthly installments too.
Any suggestions on how do I get a home improvement loan without the Plan Pass document with a decent interest rate?
Unfortunately without approval plan / Plan Pass document you cannot avail Home Improvement Plan. The best solution is to get it regularize under Govt Amnesty Scheme like impact fee option shared by you. You may check with Municipal corporation, if it can be regularized now.
hi, can you please inform what is the process to rectify the OC received. the oc for our society received in 1995 state that approved for g+2 for A and B wing and g+6 for C wing. however there is no C woing and B wing is till 6th floor.
OC cannot be rectified as it is issued based on approved plan. In your case what it implies is that flats which are not covered in OC are illegally constructed by builder.
Hi Mr Bhatia ,
Are there any special consideration on getting property as gift ?
Thanks,
Yogesh
It depends on case to case basis. Normally the person who is gifting should be mentally and physically sound. If the person is aged then it is better to take certificate from doctor before execution of gift deed. Stamp duty should be paid on gift deed and it should be registered in sub-registrar office. It is advisable that gift deed should be witnessed by either a doctor or a lawyer.
hi, i am planning to sell my home. but i don’t have the original sale deed of the property, i am having all the other documents namely property tax receipt, khata certificate, sanction plan, current and water receipts. what shall i do? please give suggestion
You may follow step 4 to step 11 as mentioned in following post
https://www.nitinbhatia.in/home-loan/original-property-documents-lost-by-bank/
hi,i wnt to knw d prcdre to buy property through bank?
Please check my blogs. I have covered complete process through various blogs.
Hi Nitin,
I have lost one of my flat’s share certificate. Please suggest how can I get a duplicate share certificate. The flat is in a MHADA building and is a cooperative society in Mumbai. Reply would be really really helpful. Thanks
Wasim
Please follow step 4 to step 11 as mentioned in following post
https://www.nitinbhatia.in/home-loan/original-property-documents-lost-by-bank/
Hi Nitin,
I bought a flat 10 years ago with my wife. She is the 1st flatholder and I am the 2nd flatholder. The flat was mortagaged to a bank. We have now divorced and I want to buy out her share. She is also agreeable. What is the procedure?
You can execute Relinquishment Deed. Ideally It should be part of alimony settlement.
Dear Nitin, i recently purchased a DLF flat in Gurgaon which was jointly owned by a mother and son duo. the sale deed has been duly registered in my name. I now want to get the ownership changed in MC property tax records. while checking the last tax paid receipt from the previous owner I realized it only mentions the son’s name. will this have any implication when I submit my application for mutation in my name? thanks. Best, SG
You need to clarify the same from seller and local MC. One possibility is that he might have included mothers name afterwards.
Dear Nitin,
I have recently purchased a house with HDFC Home Loan in Pinjore (Haryana). I have asked bank to give me in written all the documents list they have kept in original against the loan on their letter head. but bank has asked me to bring the letter on plain paper mentioning the list of documents & they will countersign it with their stamp. Will this letter on plain paper with bank stamp be legally valid or should i force them to give the confirmation on their letter head. & is it legal that bank should give the confirmation on their letter head.
It is advisable to get this list on HDFC Ltd’s letter head.
Hello Nitin, I registered an existing house in my name yesterday. Before the registration, the doc writer after looking at the sale deed of seller said that a duplicate of the sale deed exists & wanted to have a look as there is a mention of the word “original” in the sale deed. The seller said he has not applied for one & doesnt have it and we finished the registration. Will this loss of duplicate sale deed pose any problem to me in future?
In most of the cases, Duplicate Sale Deed is issued when Original is declared “LOST”. You can check from sub-registrar office who got “Duplicate sale deed” issued and reason for the same.
Though i am not scaring you but you have to careful as in many cases, i observed that owner sold property twice by declaring original sale deed as Lost.
Thanks a lot for your quick & valuable feedback! Appreciate it!
Hi, i bought a house in Chennai recently. the registration for the same was done by Novemeber. the owner wanted me to give 2 months time for vacating & handing over… and we even signed an agreement for the same. now, that the 2 month is over, when i approach him to hand over the house, he wants 15 days more.. should i give in.. what step should i take incase i want him to hand over the house immediately.
Ideally you should have taken vacant possession of property at the time of registration. I suggest you to file police complaint.
Hi, I bought a resale flat recently. We had registered sale deed with seller also and against that LIC sanctioned home loan too. After 2 months of sale deed, sellers wife has taken objection to sale deed and send letter to Corporation to restrain property tax and Electricity bill transfer on my name. Seller had purchased this flat from builder in 2010 while he got married in 2014. Seller is ready to help me doing transfer activities. What can i do?
Wife does not have any rights on property acquired by Husband before marriage. You may go ahead with transfer activities with the help of seller.
Hi Nitin,
I purchased a resale flat in Ghaziabad and executed the sale deed (registered).
My signatures are very small and fast. And I don’t write my full name in my signatures. It is just a small sign. After signing all sale deed pages when I signed the backpages at registrar office my hands were cold and I feel that those signatures do not exactly match enough. Is this a real problem or I am worrying unecessary?
If i sign twice, my signatures will also not perfectly. Basically to match signature, hand writing expert check the flow and characters. Though i have not seen your signatures but you may show it to few of your friends and relatives. If they also feel same then we will see what to do else i don’t think its an issue.
Hi Nitin
I bought a plot five years ago, and I want to sell it now, it was developed by a housing society and all previous land records before developing into housing society are with them, I had lost the original document of my previous owner, I have original of my sale deed, patta, Chitta in my name, EC also is clear indicating that I am the owner. Should I get certified copy of missed previous document or the photocopy is enough.
Pls check following post and follow relevant steps..Certified copy of missing documents is required.
https://www.nitinbhatia.in/home-loan/original-property-documents-lost-by-bank/
Hi Nitin
Do you have any idea regarding the TDS on property ?
I just wanted to know that, is 1% TDS is also applicable for NRI sellers ?
1% TDS is not applicable for NRI Sellers. For NRI seller TDS is deducted u/s 195 @ 20%. Please check my following post
https://www.nitinbhatia.in/real-estate/nri-tds-sale-property/
Hi Nitin, registration receipt is misplaced by the seller, also chain of agreement copy is not in original except the recent sale deed. i plan to purchase, please let me know alternative for this
Please check my following post
https://www.nitinbhatia.in/home-loan/original-property-documents-lost-by-bank/
Hello sir
some time back, i bought a new property,
After all procedure, builder gave me share certificate with some correction in it(white inked..)
Now the society is not ready to accept that and builder is not responding anything
What should be done now??
Thanks
You should get it corrected from concerned authority.
Hi Nitin,
I brought an individual house during last year and Khata transfer also completed, today when i checked the BBMP website for paying the property tax i saw still the system is showing previous owner name.
It would be great if you advice on procedure to change the name in property tax details and do we need to perform mutation against the property. What is the importance for both of this.
Thanks,
Sreenath
Change of name in Property Tax records is a separate process. You should visit the BBMP office under whose jurisdiction your property is registered. Carry copy of sale deed, last 3 property tax payment receipts and copy of Khata for same.
Hi Nitin,
I have executed agreement of sale as buyer last week. After registration, i came to know that my lawyer has done mistake while mentioning direction in property schedule. I believe that correction can be done with rectification deed which i have planned this week with seller. I am just curious that will rectification deed would create any issue for disbursement of loan from bank.
You may inform bank regarding same in writing and submit rectification deed with bank. Its a minor correction. I don’t think that therefore will be any impact your Home Loan.
thanks Nitin
Hi Nitin,
Our society developed 3 years before in pune and still no one paid property tax as we didnt get it. So can you plz advise what our next step for property tax. Still we didnt get NOC from builder. So will it neccessary to start tax by ourselve? Thanks you.
You may check directly with PMC. Hope you have Occupancy Certificate from builder. Also normally 1st Property tax is paid by builder. You can also check the property tax status with builder.
Hi Nitin,
I have a small query. I want to get a flat registered on my name. In that case would all the documents like electricity bill be on my name itself or can we have my husband name for all the bills.
Thanks in advance
All the documents including bills etc will be in your name only.
I want to purchase a flat in Bangalore. Flat is in company’s name. What all documents need to be collected from company? Company is an individual entity. So, documents will differ from property in individual’s name. Please help us…
The core list of documents required will remain the same. You may need additional documents which can be suggested only after going through the complete details. I suggest you to hire a local property lawyer who can help you.
I have purchased resale flat. I have taken loan from Bank and bank has put a condition of Builder NOC for disbursement. Now the builder is stating that the order by government for formation of society is out and that he cannot issue the certificate. now almost 1 month is over and still the society certificate is not received. Please advice alternate documents to be submitted to bank for disbursement and the NOC from society can be submitted at a later date and all formalities are complete.
You may give undertaking to bank regarding the same provided bank agree for same.
Hi Nitin, I am selling off my flat and buyer is taking home loan from bank.. We have not done sale agreement and are directly going for sale-deed(transfer deed).. I have received scan copy of cheque from bank with final amount but there is no signature on it.. Cheque is not signed by any bank authority… I am about to go for registration of sale deed by putting the clause that this deed is valid subject to realization of that cheque.. Do you think unsigned cheque is valid instrument for me to proceed with registration of transfer deed…
Thanks,
Jatin
Something not right here. You may visit bank which has issued the cheque to check the authenticity of cheques before registration. Without signature cheque has no value. Secondly without sale agreement or any agreement how come bank approved Home Loan..
Thanks for reply Nitin.. I will check with bank.. I thought home loan approval for resale house without agreement of sale was common.. I recently purchased house and bank approved my loan without any agreement to sale.. We had just provided the draft soft copy of transfer deed and account statement of down payment beforehand.. After scanned copy of demand draft I had gone for transfer. Deed with clause that it is valid subject to realisation of DD.. Bank handed over the DD after the transfer deed.. Do you see issues with this procedure?
Thank you in advance,
Jatin
I am not sure how bank is processing. There is a possibility that bank processed pre-approved Home Loan.
Hi Nitin,
I purchased a flat in June 2012 and got the possession in Feb 2013, I purchased it for investment purpose. We are not receiving municipal tax notice as society has not having completion certificate. Also as builder is not having the completion certificate the society has not formed yet. I am planning to sell the flat now, I have one query here. Can I sell the flat without comepetion certificate.
You have to check why the completion certificate is not available. Most probable reason is deviation from approved layout plan. You can sell the flat but buyer may find it difficult to get home loan.
Hi Nitin, Greetings. We are seeing our flat. Buyer is in US. He gave POA to his Dad. He agreed on Sale price. But he hasn’t paid any advance. He wants photocopies of all the legal documents before going for sale agreement. Please suggest is it advisable to handover the photocopies of the documents before going for sale agreement. Can we trust him? Will there be any risk in that. Please advise. Thank you.
I suggest you to take some token amount say 2 lakh before you handover copy of property papers. Secondly, please check whether POA is valid in India or not as there is a procedure to execute the same in case of NRI buyer.
hi nitin. the property was transfered recently in my mother’s name from father. the katha in my mothers name is mentioned as holder….. is it possible to get housing loan for it
You have not mentioned whether your mother is working or not.
Hi Nithin,
Had purchased a new flat in Bangalore 1 year ago, have with me registered sale deed and Agreement to Sell. Do not have any other documents like occupancy certificate etc.., also was not given Katha…, still electricity bill is coming in the name of builder itself, now would like to get Khatha, but BBMP is asking for Occupancy certificate, Mother deed, Old Katha and EC. Builder is not responding, pls help as what should i do now.
The apartment association should take it up with builder. Also check your agreement with the builder regarding transfer of khata, OC and handing over of other documents like mother deed etc to apartment association.
Hi, Nitin, I am Riaz recently I purchased resale flat, agreement is over, I go to HDFC housing loan loan will be sanctioned. What are the precautions are taken by me, tell me, like Mutation certificate issued by GHMC, Property Tax, Electricity name change , link documents, All these are over, When I sell this flat. Pls send all the details to me my email id is shaikr73@gmail.com
Please go through the posts shared by me in Home Loan and Real Estate section. For any personalized consultation on chargeable basis, you can check Paid Services section on this website.
Hi Nitin, My Father has purchased a flat with me as co -owner, we have got the name changed in MSEB, Could you please advice if my can be added in the Property Tax & Share certificate along with my father
You can include your name as co-owner.