Property purchase requires financial commitments and a lot of paperwork. It is much more than just deciding on the property location, prices, carpet area, amenities, and property features. It takes several other things to be in order. There are many real estate builders offering affordable housing in Mumbai with modern luxury. Regardless of which developer and residential project in Mumbai attract you most, the registration must be done right.

So, you are ready to register a residential property in Mumbai. This is perhaps the most crucial process. A bit of carelessness here can cost you much, causing unwanted inconveniences. This post will disclose five things you need to keep in mind before the registration process. So, here we go without further ado.

Authenticity of Property and Builders in Mumbai

Not all real estate developers in Mumbai are equally credible. Some builders are not experienced with a good track record. So, checking the credibility of the developers in Mumbai is crucial for property registration. Inquire about their accomplished and ongoing residential projects in Mumbai before registering. Also, ensure that the paperwork regarding the property is clear and straightforward. It is vital to avoid untoward events and disputes in the future.

Consult a Lawyer

Legal transactions like property registration require hiring a lawyer. It would safeguard you from any potential risks and fraudulent activities. A lawyer is a professional that can help you with the entire registration process. He is versed with all legal formalities and can verify documents about property. Consult him if the documents provided by the real estate developers in Mumbai are genuine. He can also ensure that no transactional irregularities take place during the registration.

Requisite Documents

Property registration involves working with piles of documents. However, the lure of affordable housing in Mumbai makes buyers neglect some important documents needed during the registration. Make sure you carry all the requisite documents with you. Not doing so may lead to unexpected delays and inconveniences. Here is a list of documents you may need to present at the time of registration.

• Sale deed in present seller’s name and khata certificate
• Latest tax paid receipt along with latest bank statement regarding outstanding loan
• Agreement of sales and construction accomplished by the developer in favour of the seller
• Latest electricity bill and receipt for the property
• No objection certificate from the apartment’s association
• Sanctioned building plan and occupancy certificate from the builder
• Joint development agreement
• General power of attorney and Sharing/supplementary Agreement between landowner and builder
• Copy of all previously registered agreements (in case of re-sale)
• Conversion Order issued by the concerned Authority
• Photocopy of Society Share Certificate and Society Registration Certificate
• Personal identification documents

Demand Draft

Don’t forget to have a demand draft with the accurate amount for stamp duty payments and registration charges. The charges may vary from state to state. If you are a Mumbaikar, inquire about how much it will cost to register a residential property in Mumbai and get the demand draft issued accordingly.

Check for Various Approvals and Licences

You need to check various certificates and licenses in case of buying a property from a real estate developer in Mumbai. Check if the building abides by the security measures regulated by the state government. You can also ask about commencement of work certificate, environmental clearances, and verification certificate for the land use as per the city master plan.