Documents are proof of the legitimacy of anything that exists, especially tangible assets. In such a case, one can imagine the importance of documents while planning to buy property in Mysore.
With a sector as huge as real estate, frauds are bound to happen despite the GoI having taken many actions like imposing RERA rules on developers or builders, sellers, promoters, etc. to cut them out. However, genuine documents can serve as a proof of legitimacy of any property but potential real estate investors must know what documents to exactly look at before buying property in Mysore.
Every property purchase when you buy property in Mysore is a sale that is taking place. The sales deed is a document that serves as the proof of the same. The sales deed is evidence of the ownership of the property and at the same time, it also serves as evidence in case of transfer of the property from one owner to another, such as from the seller to the buyer. Being the evidence of sale, this document must be kept safe by the owner as it will be just as important when the buyer wishes to resell the property anytime in the future for any reason. In case of the property being a gift, you may want to look for the gift deed instead.
We live in a world where only words without any proof cannot be trusted, especially when it comes to business. As the real estate sector involves business from seller – whether a pre-owner or developer or builder – to buyer, the points that the involved parties during a property purchase have agreed upon are documented in the sales agreement. Of course, the agreement is only valid when signed all the parties involved – the seller and the buyer. Always look for the sales agreement when you buy property in Mysore.
Somewhat similar to the sales deed, the title deed also serves as evidence of ownership, but more than that, the title deed serves as proof of right to own and thus to use the property. The title deed is more of a statement of the right of ownership of the property. The title deed also shows the history of ownership of the property unlike sales deed that is different for every sale.
Completion certificate and occupancy certificate
The completion certificate (CC) serves as proof that the property in the picture has been built following all construction norms legally. This avoids any legal complications in the future in terms of the building. After completion, another occupancy certificate (OC) verifies that the building is suitable for occupancy and provides water supply, electricity supply, etc. both of these certificates are essential documents to look at before you buy property in Mysore.
While it is always better to make any property purchase under the guidance of a reputable real estate consultant that has valuable experience and thus knowledge in the field, one can remember to check these documents during property purchase. As real estate investment is a once-in-a-lifetime sort of investment to a majority of potential investors, ensuring that all legal formalities are completed if the safest approach to buy property in Mysore.
If you want to consult a genuine real estate consultant to help you buy property in Mysore, your search ends at GSS Projects! The company has been around since 1995 and has made a great progress in the field of real estate. Contact us for help from an expert team, rest assured that you will get the best of services.