01 Feb-2024

11 Important Property Documents Required for Purchase of Property in Trivandrum as Per RERA

Posted onFeb 01, 2024
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Real Estate Market Trends in Trivandrum, Trivandrum

Thanks to the rapid growth of the IT industry, today Trivandrum is a top real estate destination for NRIs and entrepreneurs and professionals from other cities in India. The real estate industry is witnessing unparalleled growth for this reason. If you plan to buy a home there, you should be aware of the real estate market trends in Trivandrum, and be aware of the formalities involved. Today we’ll look at the documents required as specified by RERA:

1. Sale Agreement

This document sets out the terms and conditions on which the sale is based and is very important in a real-estate transaction.

2. Sale Deed and Title Deed

This is the most crucial document, and it states that the property is transferred from the seller to the buyer. It is signed by all concerned parties and registered in the office of the sub-registrar in the area where the property stands.

3. Title Search and Report

This document contains names of titleholders and joint tenancy, and describes the property. It verifies the title history of the property by checking the records in the registrar’s office.

4. RERA Certificate

Every building that has 8 or more flats, or that is constructed on plots of 500 square metres or more, need this certificate. It’s the builder’s responsibility and also acts as a guarantee of previous projects.

5. Property Tax Receipt

Tax Receipts are proof that all taxes due on the property have been paid and that no pending dues exist. It is also a valid proof of ownership and accepted in many places, including when you apply for housing loans.

6. Encumbrance Certificate

You need to ensure that the title to the property is clear and that there are no encumbrances or loans existing on the property. This certificate also includes transaction details of the property and is needed when you apply for loans.

7. Occupancy Certificate

The occupancy certificate is issued by the municipality once they inspect the building and make sure that it has been built as per the previously approved plan and is ready for occupation.

8. NOCs

The builder has to obtain various no-objection certificates depending on the location of the project from authorities like pollution, environment, forest, coastal, and so on.

9. Sanctioned Building Plan by Statutory Authority

The builder is required to submit the sanctioned plan so that the buyers can know what the approved plan was, and compare to see if it was adhered to or changed.

10. Power of Attorney

There are many, benefits of opting for a home loan in Trivandrum, especially if you’re a taxpayer. However, it may be possible that you are unable to sign forms for the loan and for the property purchase due to absence.Then, it is mandatory to make a POA in favour of a trusted person so that everything can proceed smoothly.

11. Development Agreement with the Builder

This document is a legally binding document between the buyer and the developer that sets out the terms and conditions for the development of the property.

Conclusion

When you purchase an apartment from a reputed builder like Varma Homes, you don’t have to worry about chasing all these documents. They have dedicated customer service executives who will guide and help you in getting everything ready so that the transaction can proceed smoothly and quickly.

Varma Homes brings you luxury lifestyle with premium 2 and 3 BHK flats in Trivandrum with Varma Sreekaryam, Varma Suburban, and two in Poojappura, Dr Pai’s Legacy and Heritage. Come and explore these magnificent living spaces and live life king size.

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