I am in the process of selling my property in Bangalore. The purchaser is looking for a loan from the bank. The bank is asking for the following additional documents - Copy of GPA dated 17.11.2003 (doc No - 293 /2003-04) - copy of sanction plan for the building I don't have these documents. I wanted to know if a) these are mandatory docs and b) is there a way for me to get these? We checked with the RWA and they don't have these documents.. Regards, Gourav
1. Sanction plan and GPA are mandatory documents you or your previous seller must have got same from.builder.
2. If GPA is registered then certified copy of same can be obtained and for sanction plan you can ask the builder or obtain copy from.concerned municipal authority.
file RTI application with BBMP and obtain copy of sanctioned plans of your property
2) if it is registered GPA you can obtain copy from sub registrar office
3) these are mandatory documents
Dear Sir,
The following documents are necessary to this effect: the basic procedure to sell a property legally in India.
I. Letter of allotment: It confers the allotment of the property from the relevant authority or society, to the original buyer.
II. Previous sale deeds: The seller should have the original sale deed from the previous owner(s) of the property. It makes it possible to trace the ownership of the property. A property with clear documentation and title is likely to command a higher price in the market.
III. Sanctioned plan: The approved building plan and occupation certificate issued by the competent authority. For example; in Delhi that would either be the DDA or NDMC depending on the area of jurisdiction.
IV. Encumbrance certificate: This is an evidence of free title. A property free of encumbrances commands a higher price in the market.
V. Sale Deed or agreement: Once the aforesaid documentation has been completed, the seller executes a sale deed in favour of the buyer on the basis of agreement to sell entailing all terms and conditions duly listed on a non-judicial stamp paper. After complete clearance of documents, both parties sign the sale deed.
Dear Sir,
Sanction Plan may be mandatory but GPA is mandatory if you have mother document. Anyway it is a discretion of the bankers. Ask your party to approach any other bank if this bank is not agreeing with available documents.
You can ask them to provide the same in writing and also ask them if the aforesaid documents are not available what other documents establishing title is required. You can file a complaint to banking ombudsman for the same
These all are chain of document,for any missing document bank may decline loan - mainly PSU banks, private bank will overlook the missing document.
1. You can obtain certified copy of GPA dated [deleted] with document No.,293/2003-04 from the Sub Registrar's Office in which the GPA is registered.
2. Copy of sanctioned plan be obtained from the Developer/Landlord, since you say that it's not available with RWA.
3. These are mandatory documents to be produced for obtaining the loan.
Sanction plan is Mandatory, You can file an RTI application before Municipality to obtain certified sanction plan of property. you can also obtain Registered Gpa certified copy from Concern SRO.
If you dont have these document then you may have to approach your seller or the builder who sold this property to you.
Since the bank is insisting on these documents, it would be your duty to provide the same or you may have to look for some other buyer who will purchase the property without bank loan.
RWA may not have such documents as the builder would not have given the individual copy to the RWA while handing over the conveyance deed to the RWA.
Yes the documents mentioned by you are mandatory requirement for bank to sanction loan.
You can get copy of GPA from revenue department in which you have registered your property.
And copy of sanction plan for building can be fetched from municipal corporation.
