BUY UNDER CONSTRUCTION PROPERTY

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HOW TO BUY UNDER CONSTRUCTION PROPERTY ?







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commencement certificate

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    WHAT IS RAJA CHITHI ( commencement certificate )? A commencement certificate is a document that proves the legitimacy of a real estate project. We explain what exactly a commencement certificate is and its importance for a developer, as well as a home buyer. A commencement certificate is a document from the local municipal authority that permits the developer to begin construction of the project. The commencement certificate (or CC) is usually granted, only after the developer has met the legal requirements and obtained the relevant sanctions for the building’s plan. Before beginning the construction of a new building or project, the developer must obtain a commencement certificate from the local authorities. Once the developer submits his plan for the project, the municipal authority will begin conducting several preliminary checks, before authorising that the project is fit for commencement. During this time, the developer must be able to provi...
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MASTER FILE

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              WHAT IS MASTER FILE ? This is refer to that the master file is a document created when a property is purchased for the first time. It is field in the public land records and its purpose is to keep track of the initial mortgages and liens that might be associated with property. THINGS NEEDED FOR MASTER FILE. Sale Deed/Title deed /Mother deed/Conveyance Deed RTC Extracts Katha Certificate and Extracts Mutation Register Extracts Joint Development Agreement  General Power of Attorney  Building plan sanctioned by statutory authority NOC from Electricity Deptt/Pollution Con trol Board/W ater Works/ Air Port Authority Supplementary agreement / Ratification Deed (if any) Allotment Letter from the builder/co‐operative society/Housing Board/BDA. Sale Agreement between Builder and 1 st Owner Construction Agreement between Builder & 1 st Owner Copy of possession letter from the builder Payment receipts paid to...
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SATAKHAT

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                   WHAT IS SATAKHAT ? The Satakhat is a vernacular word for the agreement where by the executor agrees to sell but not exactly sells the property it is always an agreement to sell under certain terms and conditions. If it is registered the other party can not sell it to any third party without taking NOC from the other party of the Satakhat. Mostly in cases of the Loan the repayment is guaranteed  by the satakhat against any property where in case the repayment of loan dues is not done by any cause the loan amount can be derived out of the Satakhat Property. It\'s enforcement is depend on the terms and conditions which are mentioned in it and the time is the essence of these agreements to sell. Where by the sale deed is a deed of instant sale against a consideration amount and physically handing over the possession of the property to the purchaser which is an essential ingredient of the sale deed.  
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