There are certain important documents required for selling property in India. Before purchasing the property, the buyer will examine the documents. Before finalizing the sale, the buyer may insist on checking the original paperwork. Apart from document its is also important to learn about tax on selling property in India.
Below is list for NRI selling property in India documents required
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Contents
- Documents required to sale property:
- 1. Sale Deed
- 2. Mutation Register Extract
- 3. Power Of Attorney (POA)
- 4. Copy Of Building Plan
- 5. No-Objection Certificates (NOC)
- 6. Allotment Letter
- 7. Sale Agreement
- 8. Possession Letter
- 9. Property Tax Receipts
- 10. Encumbrance Certificate
- 11. Completion Certificate
- 12. Occupancy Certificate
- 13. Khata certificate
- Related
Documents required to sale property:
1. Sale Deed
The sale deed is one of the main documents a seller uses to transfer his ownership of the property to the buyer. The buyer then takes full ownership of the property. The buyer should confirm the seller’s title before signing the deed.
2. Mutation Register Extract
It is crucial for you to get mutation of property done in the government records. You must get that once you have registered the property in your name. The transfer of property is seen by a mutation, which also helps the authorities determine who is responsible for paying taxes. Even though it’s not a legal document, it will be essential if you ever wish to sell your property.
3. Power Of Attorney (POA)
Power of attorney is required, when the owner is away from the property. As the POA holder has legal rights to sign on behalf of seller, he/she must register the property in buyer’s name. POA is a essential step in procedure for NRIs to sell property in India.
Learn more about: Process of registering power of attorney for sale of property
4. Copy Of Building Plan
A copy of the approved building plan and the occupation certificate issued by the appropriate government are required.
5. No-Objection Certificates (NOC)
If the seller has not registered the property, builder’s NOC may be required. If the property has been registered, the society’s NOC may be required.
6. Allotment Letter
Out of all the documents, one essential document that you need to have is the letter from the appropriate society. It can be a society or authority that grants you the property’s allotment.
7. Sale Agreement
The sale deed is prepared using a sale agreement as a foundation. Out of all the documents, a sale agreement clearly outlines the terms and conditions. Under this, the buyer intends to acquire the property and the seller intends to sell the property.
8. Possession Letter
The seller hands over the letter of possession to the buyer that includes the date of possession. A letter of possession guarantees that the seller transfers its ownership of a property successfully to the buyer. Generally, the builder gives the possession letter. Possession letters in secondary sale are less prevalent.
9. Property Tax Receipts
Always look for the property tax receipts when purchasing a property that you will sell. This shows that the property has no outstanding debts. Also one must be aware of the amount of property tax on sale of property.
10. Encumbrance Certificate
The encumbrance certificate serves as proof of free title in transactions related to property. When purchasing any property, it must be ensured that there are no outstanding debts on the property.
11. Completion Certificate
A completion certificate is a declaration by the appropriate authorities. It shows that the building is complete as per the norms and regulations. A certificate of completion is necessary. This is because it gives the assurance that the property has been built in accordance with the authorised plan.
12. Occupancy Certificate
Upon project completion, a local government issues an occupancy certificate. This certificate serves as an evidence that the structure is complete and ready for occupancy. In order to live in a property, you must get an occupancy certificate (OC). Without the Occupancy Certificate, residing in a property is against the law.
13. Khata certificate
The certificate includes details about the property’s size, built-up area, and taxes. It tells us about the owner of the property and his tax liability. The document is absolutely essential for a smooth property transaction, however it is only legal in Bengaluru.
NOTE: The list of documents name may vary from state to state as per process and state rules.
Also Read: Khata transfer in Bangalore
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