FAQ
Frequently Asked Questions
How many properties can I own?
You can own as many properties as you want.
What is property registration?
It refers to the registering of documents relating to transfer, sale, lease or any other form of disposal of an immovable property. Registration is compulsory by law for all properties under Section 17 of Indian Registrations Act, 1908. Once a property is registered lawfully, it means that the person in whose favor the property is registered, is the lawful owner of the premises and is fully responsible for it in all respects.
What documents would I need at the time of possession?
- Original copies of the chain of title agreements and Building Plan approvals
- Original registration and stamp duty receipts
- Possession Letter
- Original share certificate (In case of societies)
- Proof of payment of all dues like maintenance charges, electricity bills, phone, water and property taxes up to the date of handing possession
- NOC from the Society or other concerned body confirming no objection to the transfer
How could I verify that the documents shown to me by the seller are genuine
- Projects approvals can be verified from the corporation or the sanctioning authority’s office
- Ownership documents can be confirmed from the Sub Registrar’s office where they are registered
- Share certificate related to societies can be verified from the concerned Society itself
What documents do I need to check if I am buying a resale property?
Clear and marketable Title, Sale Deed, Encumbrance Certificate, latest tax receipts, Occupancy Certificate, Building Plan Approvals and Possession Certificate
What documents are required to get a resale property registered ?
New Sale Deed, PAN Card, Photographs
What documents are required for registration of a new apartment/plot?
Sale Deed, No Objection Certificate (NOC) from builder, NOC from banks, Building Plan approvals, Completion Certificate, PAN Card and Photographs
What documents are needed for registration of an independent house?
Allotment papers of the plot, Building Plan approvals, Transfer Deed (in case of multiple owners), Sale Deed, PAN Card and Photographs.
What documents should I check before buying a new property?
- Sale Deed
- Title Deed
- Approved Building plans
- Completion Certificate ( Newly Constructed)
- Commencement Certificate( Under-construction property)
- Conversion Certificate( If agricultural land is covered to non-agricultural)
- Khata Certificate (especially in Bangalore)
- Encumbrance Certificate
- Latest Tax Receipts
- Occupancy Certificate
I have two housing loans on two different properties. Can I get tax rebate for both the loans?
Yes, you can get the benefit on both loans. However, the total amount that you will be entitled to will not exceed Rs 1,50,000 for both the homes.