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What documents need to check before buying flat in Mumbai?

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What documents need to check before buying flat in Mumbai?

Documents required for buying a property are as follows:

  1. Draft Agreement – Sale Deed.
  2. Property owner’s original agreement – You can see this agreement and also take a copy of it.
  3. Earlier sale deeds/sale documents if the case is of reselling.
  4. Share Certificate of the society.
  5. Bills such as of electricity, telephone.

What to ask when buying resale flats?

5 good questions to ask your property agent before buying a…

  1. Do I need to pay the COV?
  2. Is this resale flat eligible for SERS?
  3. How much did the seller pay for the flat?
  4. How long has the flat been on the resale market?
  5. Are there any possible red flags?

What documents need to checked while buying a flat?

5 documents you must verify before buying ready-to-move flats

  • Sale deed. A sale deed tops the checklist while verifying documents for your new home.
  • Completion/Occupancy Certificate.
  • Building plan.
  • Encumbrance certificate.
  • Mutation certificate.
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Can I buy resale flat without agent?

Can I buy a resale HDB without an agent? Yes, you can. Before doing so, you will need to visit the HDB Resale Portal for an instant assessment of your eligibility to do so, as well as information on CPF housing grants and the HDB housing loan.

What should I check for resale?

7 Important Things to Look Out For When Buying a Resale Flat In 2022

  1. Take a walkabout.
  2. Bring a compass (or use a compass app)
  3. Check water heater(s)
  4. Check for loanshark graffiti.
  5. Swing by the flat a different time.
  6. Check for relevant amenities.
  7. Check for sagging doors.

How do you get a resale flat?

A happy middle ground: resale flats….Just like an astute auntie at a sale, this list will tell you if the resale flat you’re looking at is treasure or trash.

  1. Look out for signs of a loan shark problem.
  2. Find out if your unit is facing the sun.
  3. Check on the house’s lease.
  4. Take note if the place is in a livable condition.

How long does resale application take?

On average, it will take about 8 weeks from the date of HDB’s acceptance of the resale application, to process the application.

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How many times can I buy resale HDB?

In essence, an eligible Singapore Citizen is allowed to buy the above properties twice in total, not twice per type of property. If you have already bought 2 such properties, you will not be eligible to apply for a new flat or be listed as an essential occupier in an application.

Is PMAY applicable for a resale flat?

No, you cannot avail of subsidy benefits under the Pradhan Mantri Awas Yojana for a resale flat. This scheme is applicable only for the purchase or construction of new houses and the extension or improvement of existing homes.

Is GST applicable for resale flats?

As per the latest GST tax structure, any residential project that has obtained a completion certificate, or any ready-to-move-in property can’t be classified as a service. So, in the case of resale of such properties, there will be no GST levied.

What are the documents required to buy property in Mumbai?

Certificate of Commencement. Certificate of Completion. Land information – like M.H.A.D.A, M.M.R.D.A, Freehold Land, Leasehold Land, etc. NOC from the builder to buy investor’s flat. Public notice in the newspaper on buying property in Mumbai is highly suggested. It could be one in English language and one in local language.

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What documents do I need to check before purchasing a resale flat?

Here is the list of the documents that you need to check before purchasing a resale flat: Title Report – You should ideally conduct a Title Search at the Registrar’s office in order to retrieve the chain of documents that reflect the history of the flat.

Is buying a property in Mumbai a good idea?

Buying a property, especially in Mumbai is like a dream getting executed. But it will take hardly any time for your dream to get ruined. To avoid this, it is vital to know what documents to be checked before buying a property, whether a ready one or a property that is under construction.

What should I do before buying a flat?

Before you purchase a flat, you have to have a title and document search conducted by a competent advocate. You cannot do it yourself. You have to use the services of a competent advocate. It is a professional job to be done with professional assistance. Do take Xerox copies of all the documents at the time of entering into agreement.