While purchasing your dream house, a major issue is accumulating all the relevant documents that will be required for home loan or property purchase. You might come across different articles where only a few necessary documents will be mentioned. However, your investment is going to be big and spending so much money is a big deal. Thus, it is essential to know which all documents you will be requiring.
Even after compiling the entire list, there are several things which you need to understand. These are relative to the document you will be presenting. You must know what the specific document all about is. Why that particular document is required. What is its relevance? Whether or not is it customary to have that document? Should you have an extra copy of that document? Is it required for property purchase or for home loan?
Below is a consolidated list of all the necessary documents. All these documents answer all your doubts and you will have absolutely no problem while making a property purchase or applying for home loan.
List of Documents Required for Property Purchase or Home Loan
|1||Sale Deed, Mother Deed, Title deed, Conveyance Deed|
|2||Latest Electricity Bill|
|4||Deed of Declaration|
|6||Loan, Charge, Mortgage by the builder|
|7||Mutation Register Extract|
|9||Joint Development Agreement|
|11||General Power of Attorney|
|13||Sanctioned building plant by authority|
|14||Auction Sale Confirmation Letter|
|15||NOC from air port authority, water works, Pollution Control Board, Electricity Department|
|16||Sale Agreement between the 1st owner and the builder|
|17||Possession Letter from the builder|
|18||Allotment letter from the BDA, Housing Board, Co-operative Society, Builder|
|19||Construction Agreement between the 1st owner and the builder|
|20||Any current or past loan on property|
|21||Payment receipts paid|
|22||Sale Agreement with the seller|
|23||Sanctioned Layout Approval Plan|
|24||Tax Receipt: from date of registration|
|25||EC for last 13 years: From registration until that date|
|26||Betterment Charges or Conversion order paid receipt|
|27||Demand Letter from Vendor|
|28||Valuation Report or Detailed Cost estimate from the Architect|
|29||NOC from the building or Society association|
|30||License for Construction|
|31||Approved plan of Extension or Construction|
|32||No-due certificate from Society|
Different banks will require different documents depending on their policies. Above is a complete list, though not all the documents will be required. With above documents, on the go, availing home loans will be very easy.