If search report of the SBI has approved/cleared the property and the bank is willing to give you home loan, you may safely go ahead and purchase this property.

Since, this flat (once constructed)will come in the share of the land owner, any Agreement of sale that you enter into is going to be between him and you.

No possession certificate will be given to the land owner by the builder. However, once the project is complete, the concerned competent authority will issue the completion and the occupancy certificate.

Just in case, to be fully ensured, you may get done the title search of the property from your end as well. Contact a local Lawyer to do so.

1) take 30 years title search

2) check whether originaltitkr deeds are with seller or not

3) whether sharing agreement between landowner and builder is registered or not

4) it is better to purchase flat after OC is issued by muncipal corporation

5) if you have taken bank loan then bank will do due diligence before sanctioning of loan

1) Search report is enough to get loan.

2) owner will sign the sale agreement and builder had provided possession certificate to owner.

3) you have to Index II, sale agreement, corporation tax, electricity bill, in sale agreement which is registered with registrar.

If you require any further clarifications, please call via consultation call and give rating to me.

Title deed, land records, development agreement, development power of attorney, possession letter

Contact the builder and ask him to provide all the document relating to her project and you have to check whether the project is approved by all the authorities I.e the water department , Nagar Palika the environmental clearance the parking area Etc and for the purpose of land you need to go to the nearest register office and check whether the record off land is clear for more than 15 years weather proper sale deed in favour of the builder has been executed by the previous land owner I must say contact a local lawyer.

If the SBI has approved the project through their Team please check for the legal opinion.

sharing agreement between the builder and the owner of the land.

Encumbrance certificate from the sub-registrar with respect to the apartment.

1) you can sign agreement of sale with the builder now

2) occupation certificate is issued by municipal corporation

3) possession letter is issued by builder

I want to buy a flat through SBI home loan which is land owner's share.what documents should I check? The last title document till the origin has to be validated. Should not have missing documents. If POA has been executed, it has to be verified. Apply for encurmbrance certificate.

Before full completion of construction of the flat can I sign the sale agreement if yes who else will sign there? The absolute owner and the previous documents will reveal for how long he is the owner and whether he was in possession, etc.,

Does the land owner require possession certificate from the developer to sell the flat? Yes.

Can I sign sale agreement right now(before completion and OC is not yet issued)?

What is Possession certificate and who will issue it? Is it required before signing agreement? You can sign the sale agreement as the bank may require to process the loan, PC will be given by the builder. Yes it is required before signing.

1. First of all verify the mother deeds to ensure about the ownership of the land.

2. Ensure that the original link deeds are shown to you to ensure that the land has not been mortgaged with any Bank as in that case, the lending Bank will have 1st Charge on the said land and any structure constructed thereupon.

3. Conduct registry search and Court search for at least 15 years to ensure that the property is unencumbered.

4. Then verify the development agreement, sanction plan issued by the Municipal Corporation.

5. You should register the sale deed only after OC/CC is issued by the local Municipal Authority and possession letter is issued to you and after your taking physical possession of the said flat.

6. However, you shall have to execute the sale agreement beforehand setting all the terms of the deal including completion period, exist clause, penalty to be charged on the vendor for late completion/registration of the flat etc.

7. Ideally, the land owner also should also take physical possession of his allocation of flats through a letter from the developer before selling the same to his buyers.

1. Agreement for sale is executed before even the construction starts. You shall have to sign it now.

2. It shall be signed by the seller and if the seller has given POA to the developer for selling his share of the flats, then by the developer.

3. Possession certificate is a certificate issued by the developer to his buyer or the buyer of the land owner by which he gives the possession of the specific flats to the said buyers after construction of the flats are completed.

1) flat is in ready position or under construction?

2) If search report is completed by SBI people and there is no issue found in it, than you can sign agreement.

3) Developer or Builder mostly issue possession certificate and it given at the time of flat is ready to use.

Hi,

The under construction flat is registered in the name of seller? If not the sale agreement will be transferred in your name by the developer and not basis of the tripartite agreement between you, developer and bank the bank will finance the amount for the purchase.

The registration of the property can be done at the possession stage and the registered sale deed will be submitted to SBI.

Yes the points noted by you herein-above are right, and you can purchase the flat after observing the said points.

Also check the title of the land, ask a local lawyer to provide you non encumbrance certificate.

Regards

Your understanding is correct

1) you have to check Land Owner agreements and developer agreements.

2) please check POA with developer which land owner had did.

1. Ordinarily land owner should be able to sell his share of the flats but in certain cases, it is stipulated that those flats also will be sold by the developer or those flat will be sold only after the flats falling under the share of the develiper are sold of.

2. You shall have to specify the conditions clearly in the said agreement for sale.

3. Other things are O.K.

Yes

For the documents to be vetted and scrutinised, you may engage the services of a local lawyer who will intimate you about the requirement of further necessary documents in this regard, for verification.

The possession letter shall be given by the builder.

The completion certificate and OC also to be procured by the builder through the concerned authorities.

.

Sale agreement is different to that of the sale deed.

The sale agreement is a document to be signed at the initial stage itself which will have an elaborate description about the property, construction and all other relevant details, including the conditions of sale, forfeiture and other clauses therein.

.

The possession letter is issued by the developer in favour of the buyer stating the date of possession of the property. The original copy of this document needs to be produced for securing a home loan. A possession letter alone would not suffice for legal possession of the property unless OC has been obtained.

You are absolutely right about it.

Certificate of Occupancy or completion certificate is a document which is issued at the end of the construction by a local government agency or planning authority. The document is a proof of the building's compliance with applicable building codes and other laws. It indicates that the property is in a suitable condition for occupancy. The developer is responsible for obtaining occupancy certificate and is issued only once the building has been completed in all respects and is ready to be occupied. A completion certificate is received by the builder from the metropolitan authorities upon completion of construction.Occupancy Certificate is necessary while seeking loans from banks and financial institutions or while applying for water, sanitation and electricity connection. Legally, a home buyer cannot move into the property without the document. The certificate is also important in scenarios when a buyer applies for Khata or when purchasing a re-sale flat. The sale of the apartment would not fetch a good price without OC.

Obtaining Occupancy Certificate and Completion certificate can be mandatory under respective State laws. As per these state laws, one cannot legally move into a building unless the developer gets an occupancy certificate from the respective local administrative or civic bodies. The corporation or municipality can ask the apartment owners to leave such illegally occupied flats or impose heavy penalties in the name of ‘regularization’.

You can do agreement to sale and later give him possession when oc is received. Else you can also execute sale deed and take your money. You need to inform the developer about the same. If it is a redevlopment then also to committee or Society.

They can't stop you for the same. You don't need permission of developer as it is your owned property. Yes OC is given by municipal corporation after completion of construction and other requirements as per the sanctioned plan.

No

It is typographical error

It should not affect registration of flat and bank loan

Affidavit can be executed that both are one and same person

The spelling error from one document to another will not have any impact on the registered sale deed executed in your favor.

The name in the sale deed document should not differ to that of his own title documents

1) It may create problem of name spelling, its better to get clear by online official government gazette that previous he was writing has name as "Pradip" and now on all records like Pan card, Aadhaar card etc..as "Pradeep".

It will not affect the registration. No affidavit is required.

1. You shall have to ask the land owner to get an affidavit executed before a 1st Class Judicial Magistrate affirming that he has executed the sale agreement as Pradeep Kumar Saha as per his PAN Card and other documents where as his name has been written as Pradip Kumar in development and sharing agreement and both Pradeep Kumar Saha and Pradip Kumat Saha are the one and the same person and the sale deed will be executed by him as Pradeep Kumar Saha.

2. Being backed by the said Affidavit affirmed by him, you are not expected to face any problem while registering your sale deed and also from any body after the sale deed is registered.

hello,

Yes a amendment has to be made in the Joint development agreement and sharing agreement. Otherwise the bank might raise an objection, Registration might not cause any problem but the bank will raise an objection.

Regards