You would have entered into an agreement with the builder an year or so back. In some cases, it can be more than 2 years. After a long wait and paying EMIS, the day you were eagerly waiting for will come. It’s the handing-over day. The builder after completing all his promises will invite you and hand over the keys to your apartment along with some important documents. This is a big list of documents and in some cases, a few could be missed. This article will list out all possible documents that one need to collect from the builder before taking possession of the property.
The list of documents are:
Agreement between you and the builder: This is the initial sale and construction agreement that you two would have signed at the time of purchase. Make sure to acquire the original copy.
Project Completion Certificate: This is an extremely crucial piece of paper. Once the construction is fully completed, the builder has to get this completion certificate from the local government body like DTCP/CMDA or Corporation.Allotted Parking: If you have been promised a dedicated car parking space, then that need to be mentioned in the copy. Please cross verify the same. The builder usually pastes a sticker of your door no. in that parking space.
Tri-Partite Agreement: This usually comes into the picture if the builder has taken a loan from a bank or a housing finance company. Do not confuse this with your housing loan. This is a loan taken by the builder to construct the property alone.
Power backup details: If Power back was promised at the time of purchase, make sure you get the copies for the same. Cross check whether it is installed and working correctly.
Payment Receipt: This is also very important. In most cases, you would have paid only a small amount upfront like 15% and rest in part payments at various stages of completion. The mode of payment might have also changed. Eg: for the initial payment, you would have given check and for the 2nd and 3rd, it would be bank loan and for the 4th, you might have paid cash. IN the final receipt the builder has to provide a detailed break-up of all your payments along with check number and date received.
Maintenance Agreement: You would have paid a lump-sum amount along with the cost. This amount will be used for maintenance once you start using the property. In most cases, it will be for first 2 years and in some cases, it can be one year. When you collect the documents, do collect the agreement copy for this maintenance too. Mostly it will the builder or his sister concern who offers this service.
Registry Papers: You and your builder would have registered the sale deed in the Government Registrar office in a well-paid Stamp paper. Please collect the original documents and also possible any mother documents if any.
Property tax Registration: This again would be inclusive of your sale deed amount. It is the responsibility of the builder to get your home registered in property and water tax and provide you a receipt.
These are just some of the documents that you have to collect from your builder. Some of the documents mentioned above may not be applicable for all buyers, so consider them carefully. Other possible documents can be Electricity board registration, environmental clearance, etc.