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Buyers guide 3 Checklist For Buying A Property Below mentioned is the checklist for buying a property with brief explanation Land titles construction permits Approvals from authorities Agreement Title clearance certi ?cate Income Tax clearance -I and A St

Checklist For Buying A Property Below mentioned is the checklist for buying a property with brief explanation Land titles construction permits Approvals from authorities Agreement Title clearance certi ?cate Income Tax clearance -I and A Stamp duty and registration Society clearance and membership Taking possession of the at Checklist for buying a property Land titles construction permits Approvals from authorities Ownership of land in favor of the builder Conveyance of property in favor of the society Urban Land Ceiling and Regulation Act clearance certi ?cate if applicable Power of Attorney executed by the landlord in favor of the developer in case it is joint development between landlord and developer Permission to use land for non agricultural purpose Original plans approved by municipal authorities total area number of oors etc Commencement Certi ?cate issued by municipal authorities permitting the developer to begin construction Occupation Certi ?cate issued by authorities certifying that the building is complete and ?t for occupation C Agreement Check the serial number of at oor is clearly indicated in the agreement Carpet area built-up area and purchase consideration of property is clearly stated Floor plan of the speci ?ed property is annexed with the agreement All the amenities type of construction oorings doors windows sanitary water supply electrical ?ttings etc are clearly speci ?ed The agreement is duly stamped and signed and lays down a payment schedule Original stamped receipts and previous sale conveyance deed in case of resale properties Title clearance certi ?cate Obtain a title clearance certi ?cate from the advocate certifying that the property intended for purchase is unencumbered and has a clear marketable title Income Tax clearance -I and A A transaction is incomplete and invalid if No objection certi ?cate from the Appropriate Authority is not obtained in case of immovable properties in certain cities transacted above a certain value The current -I limits have been laid down for various cities as under Sr No City for which Form No -I is required to be ?lled Provided the apparent consideration exceeds Greater Bombay Rs lakhs Delhi Rs lakhs Calcutta Chennai Bangalore Ahmedabad and Pune Rs lakhs Chandigarh Jaipur Cochin Trivandrum Nagpur Rs lakhs Please check the rates again with respected authorities CThe seller must obtain a Income Tax clearance certi ?cate u s A of the Income Tax Act specifying that the seller has no dues outstanding in terms of the Income Tax payable by him It is necessary to submit this certi ?cate at the time of registration of the property Stamp duty and registration Stamp duty is payable as per true market value as per rates prescribed by the Stamp o ?ce The agreement is to be registered with the sub-registrar under the provisions of the Indian Registration Act with a period of four months from the date of its execution Society clearance and membership No objection from society for transfer and sale of at Payment of necessary transfer charges to the society Obtain the share certi ?cate from society duly