Are you planning to buy a property - From the Purchaser Point of View…

Documents needed from the Purchaser – Copy of all these
1. 3 months payslip
2. Latest revised offer letter
3. 6 months bank statement
4. 1 – 3 photos
5. Current Residence Proof – Phone Bill, Credit Card Bill, Rental Agreement
6. Permanent Residence Proof – Passport/Pan Card/Driving License
7. Pan Card
8. Saral and Form 16 for the last year (some banks may also ask for last two years’)
9. Your Housing Loan Details – If any – Get the reference number, address of the property, loan amount, and how many more months pending, etc.
10. Personal Loan Details – If any– Get the reference number, address of the property, loan amount, installment amount and how many more months pending, etc.
11. Marriage Certificate – Not needed (Additional information if you are a co-applicant).
12. Have the following information: Your PF, Savings, Life Insurance, Mutual Funds, Car, Two Wheeler and other investments/income details.

Documents needed from the Vendor – Copy of all these
1. Sale Deed. Read the Sale Deed. If it refers any other Sale Deed (if the vendor has purchased the property from someone else), get the old sale deed also. If the old sale deed refers another sale deed, get a copy the oldest one also. Read all the sale deeds carefully. Check if there a Minor guy involved in the sale deed.
2. Get the EC (Villangam in Tamil) document for 15 – 20 years. This will give you the clear information about the property sale history. You can also refer this and ask for respective sale deed.
3. Plan approval copy – Square Feet Details – See whether it is approved by CMC/BMRDA/BDA. Check if there is an illegal construction, which is not matching with the plan approved.
4. Electricity and Water Bills.
5. Up to date Tax Paid receipts.
6. Check whether they have paid the Betterment Charges to Corporation. Also they should have paid the Water connection charges.
7. See whether the Vendor has taken any loan from the bank to buy this house. If so, get the loan details. Ask the Vendor to get a No Objection Certificate OR a certificate which tells the amount required to transfer the Vendor’s loan from the bank to your housing loan bank, if you are planning to take a loan. The vendor will also be having a document, which will have the details about the documents submitted by the vendor to the Bank. Get a copy of it.
8. See if the property was under ITI/HAL notified area. If so get the required document also for your purpose.
9. Important: You also need to get a Khata copy for the house. Khata should be in the current owners' name. Don't accept previous owners Khata. You will not get loan sanctioned without this document. FYI: Khata is different from EC. If the owner doesn't have Khata, you can ask the owner to get FORM No.19 on the owner's name from the taluk office.
10. Assume one of the sale deeds says GPA holder has sold the property to the owner. In this case get the GPA agreement copy also.
11. Get a document copy of License for the Construction. FYI: Plan copy is different from License for the construction.