4 documents you must check prior to a property purchase in Navi Mumbai

Any financial decision you take needs to be reinforced with considerations of every pro and con of that decision. And things are no different when you are purchasing a commercial property in Navi Mumbai. In fact, you should actually put in more thought behind this decision as the investment amount would be heftier than in other investments. So, it is vital that you check all the relevant documents pertaining to the property before you take the plunge and make an investment. But what exactly does one mean by the term ‘relevant documents’? What are these relevant documents? Well, we know that these questions may spring to your mind upon reading the previous statement and we have hence prepared a list of these documents that you must absolutely check and verify before you buy offices in Navi Mumbai.

After you have zeroed in on a property in Navi Mumbai, you must verify the paperwork that all builders in Navi Mumbai or anywhere in India are supposed to complete and provide you with. This paperwork would include the commencement certificate, environmental clearance, approved building plans, land title, etc.

1. Title Deed

You must always verify the land title and confirm if the land actually belongs to the builder or if they just have development rights for the land. Merely possessing development rights is not enough and it may lead to a title dis[ute between the builder and the actual owner of the land in the future. And the people most affected by it would be the property buyers. So it is better to be safe than sorry. Don’t shy away from taking the help of professionals (lawyers) to get the deed thoroughly checked, examined and verified. Some builders would try to present an NOC from the local panchayat or the concerned local body and convince you that the property belongs to them. This, however, isn’t enough proof that the title of the property is clear. The most genuine and reliable builders in Navi Mumbai such as Vishwa Green Realtors would always present an authentic title deed which proves their undisputed ownership of the property.

2. Release certificate

If the property you are buying is in resale, bear in mind that the property and its ownership documents may have been pledged to a bank in order to acquire a loan. If this actually is the case, you would need to obtain a release certificate from the concerned bank, which would prove and confirm that the loan has been fully repaid.

3. Environmental clearance

We have seen many cases of developing projects getting stuck and scrapped because they weren’t cleared by the environmental bodies. Most builders won’t do such a thing purposely, provided they are genuine and honest, but it is still better to err on the side of caution. Verify from the civic authority and the concerned environmental authority that the property does not fall in the no-development zone. The city master plan, which would be available from the civic authority, would confirm the land-use zone of the property.

4. Miscellaneous documents

Ask for and check the Encumbrance certificate, a document which proves that there are no legal dues pending on the property. Also ask for the property tax receipts besides other bills from the previous owner of the property. This too will ensure that there aren’t any pending legal dues, which is something that you must be certain of if you are buying flats in Kharghar, Panvel, Vashi, or any other area of Navi Mumbai. Apart from this, you should also verify if the layout of the property has been approved by the concerned authorities. You can crosscheck the same with the local civic body.

The 4 documents mentioned here are absolutely crucial for ascertaining that the property is safe for investment or purchase from the legal point of view. Make sure you verify them before you make the purchase.