What things to check before buying a flat in Pune?

Following is the list of documents that must be verified before you purchase a new flat in Pune.

• Sale Deed.
• Building Completion Certificate.
• Encumbrance Certificate (EC)
• Conversion Certificate.
• Khata Certificate.
• Occupancy Certificate.
• Commencement Certificate.

What should check before buying a flat?

9 Important Things to Remember Before Buying Flats

• Property Price: The first step in selecting a house or a flat is to fix a budget.
• Flat’s Carpet Area:
• Land Record:
• Legal Check of Property:
• Apartment Possession:
• Financing Banks:
• Builder-Buyer Agreement:
• Location of the Flat:

What is RL in property?

RL stands for Reduce Level. It means you will be the owner of 1600 sq-ft property but you have to construct the house/flats within 1400 sq-ft. 200 sq-ft you have to leave for the road.

What is EC in property?

An Encumbrance Certificate or EC is a certificate of assurance that the property in question is free from any legal or monetary liability such as a mortgage or an uncleared loan.

What is CF NOC?

A No Objection Certificate (NOC) is a legal document issued by a housing finance company or bank to a customer declaring that he/she has no outstanding dues towards the lender. Sometimes referred to as a “No Dues Certificate”, an NOC can be obtained from the lender once the loan has been paid off completely.

What precautions should be taken before buying a flat?

Can stamp duty be refunded?

Generally, for all property transactions, the buyer has to pay certain amount as stamp duty. You can claim the refund of stamp duty paid on such instrument, if the same has not been executed. The government deducts 1\% of the stamp duty, subject to a minimum of Rs 200 and a maximum of Rs 1,000 of the stamp duty paid.