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Homebuyers' guide: Key documents one must check before booking your dream home
Legal experts say the Thane builder’s arrest for selling flats with fake permits highlights why thorough due diligence is vital when buying property
The recent arrest of a real estate developer in Thane, near Mumbai, accused of selling flats using forged construction permits, has once again highlighted the risks homebuyers face in the real estate market.
According to the local police in Maharashtra, the developer allegedly used fake revised permits and maps to construct and sell apartments beyond the sanctioned limits of Mira Bhayander near Mumbai, duping homebuyers of crores of rupees.
According to legal experts, the Thane incident is a reminder that due diligence is critical in property purchases. Homebuyers should insist on original approvals, consult legal experts, and use the RERA portal for verification.
Below are the five things homebuyers should keep in mind before booking their apartment.
1. Title deed and ownership records
According to legal experts, the developer must have a clear and marketable title to the land in the form of a conveyance. Homebuyers should ask for this and verify it with the local sub-registrar’s office to ensure there are no disputes or encumbrances.
“Homebuyers must verify the ownership title and get legal due diligence done before committing funds,” CA Aditya Zantye, partner at AKORD & CO, said.
Documents like the property card, 7/12 extract, property tax receipts, and water connection bills are key documents to review, experts said.
2. Building plan approval
According to legal experts, municipal authorities must approve the project’s layout and construction plan. A fake or altered building plan, as seen in the Thane case, can lead to illegal structures. Homebuyers should cross-check the sanctioned plan with the municipal corporation.
Also Read: What is the lowest rent currently available in Mumbai’s real estate market?
3. Commencement and Completion Certificates
The Commencement Certificate (CC) proves that construction has been legally approved to start, while the Completion Certificate (CC) or Occupancy Certificate (OC) confirms that the project has been built as per sanctioned norms and is fit for possession.
4. RERA Registration
Under the Real Estate (Regulation and Development) Act, every project must be registered with MahaRERA in Maharashtra. Legal experts say homebuyers can verify the project and developer details on the official RERA portal to check for authenticity and compliance, as well as legal and other encumbrances of the project.
5. No-Objection Certificates (NOCs)
A genuine project requires NOCs from multiple departments, including fire safety, environment, water supply, and electricity. Hence, homebuyers must check for these NOCs as missing or forged NOCs can cause future legal and safety issues.
