1. Title Verification:

   – Verify the title of the property by examining the chain of ownership through the property’s title deed, known as the “7/12 extract” or “property card” in Maharashtra.

   – Conduct a search at the Sub-Registrar’s office to confirm the property’s ownership, encumbrances, and any existing mortgages or liens.

2. Property Documents:

   – Obtain all relevant property documents, including the sale deed, property card, building plan approval, occupation certificate (OC), and completion certificate.

   – Ensure that the property is free from any legal disputes, litigation, or encumbrances by obtaining a no-objection certificate (NOC) from the society or developer.

3. Encumbrance Certificate:

   – Obtain an encumbrance certificate from the Sub-Registrar’s office to verify that the property is free from any pending legal dues or liabilities.

4. Mutation Entry:

   – Ensure that the property’s mutation entry is updated in the land revenue records to reflect the change in ownership.

5. Approval from Planning Authorities:

   – Verify that the property has received all necessary approvals from the local planning authorities, such as the Municipal Corporation of Greater Mumbai (MCGM) or the Maharashtra Housing and Area Development Authority (MHADA).

6. Payment of Stamp Duty and Registration:

   – Pay stamp duty on the property based on the property’s value as per the Stamp Duty Ready Reckoner published by the Maharashtra government.

   – Register the property transaction by paying the required registration fees and stamp duty at the Sub-Registrar’s office.

7. No Objection Certificates (NOCs):

   – Obtain NOCs from various authorities, including the society, municipality, collector, and environment department, as applicable.

   – Check for any specific NOCs required for properties located in coastal regulation zones (CRZ) or areas under special development control regulations.

8. Agreement to Sell/Purchase:

   – Enter into an agreement to sell/purchase with the seller/buyer, outlining the terms and conditions of the transaction, including the sale price, payment schedule, possession date, and other relevant clauses.

9. Tax Clearance Certificate:

   – Obtain a tax clearance certificate from the local municipal authority to confirm that all property taxes and dues have been paid up to date.

10. Power of Attorney (POA):

    – If purchasing the property through a power of attorney holder, ensure that the POA is executed as per the provisions of the Indian Registration Act, 1908.

11. Home Loan Documentation (if applicable):

    – If availing a home loan, ensure that all necessary loan documentation, including the loan agreement, mortgage deed, and other related documents, are in order.

12. Occupation Certificate (OC) and Completion Certificate:

    – Verify that the property has received the Occupation Certificate (OC) and Completion Certificate from the relevant authorities, indicating that the construction is complete and the property is fit for occupation.

13. Legal Due Diligence:

    – Conduct a thorough legal due diligence of the property by engaging a qualified legal advisor or property lawyer to verify all relevant documents and ensure compliance with legal requirements.

14. Payment Schedule:

    – Adhere to the payment schedule outlined in the agreement to sell/purchase and make payments through legitimate banking channels.

15. Transfer of Ownership:

    – Ensure that the transfer of ownership is recorded in the property records, and the new title deed is obtained from the Sub-Registrar’s office.

By fulfilling these legal requirements, you can ensure a legally compliant and hassle-free process of buying a residential property in Mumbai and Maharashtra.

For more contents click : plotforsales.com, Shelter Layouts Pvt Ltd.