Why is Thrissur the ideal location for a family to settle down? It is rapidly emerging as a financial and commercial hub of the state – and drawing many people there.
Purchasing real estate is vastly different from purchasing any other asset.. You have to understand the real estate market trends in Thrissur if you want to purchase an apartment there to get the best deal.
There are several documents that you need to furnish as per RERA norms:
1. Sale Agreement
This document encapsulates the terms and conditions of the sale, the property value, and loan amount. For resale property, the loan is a percentage of either the market value or agreement value.
2. Sale Deed and Title Deed
The most important document in property transactions, it acts as a record of transfer of ownership to the buyer from the seller. It must be signed by all parties and duly registered in the sub-registrar’s office where the property is located.
3. Title Search and Report
This document is a verification of the property title history and contains details like title holders’ names, joint tenancy, property description, etc after verifying the title history of the property as seen in the registrar’s records.
4. RERA Certificate
The builder should obtain this certificate if the project is constructed on a plot that is more than 500 square m or if there are 8 or more apartments in the building. The RERA certificate acts as a proof of the builder’s credibility and is an assurance about past project performance.
5. Property Tax Receipt
Receipts prove that the taxes on the property are paid and there is nothing outstanding. It serves as a document of legal support of the property and can be furnished as proof of ownership and other purposes.
6. Encumbrance Certificate
It’s important to ensure that there are no loans or other encumbrances on the property, and this certificate is the proof. It is required to apply for a housing loan, and includes details of all transactions of the property
7. Occupancy Certificate
When the construction of a building is completed, the municipal corporation conducts an inspection to ascertain that the construction adheres to the original plan that was passed, and that the building is fit to be occupied.
8. NOCs
Depending on the location of the project, the builder may have to obtain no-objection certificates from several government authorities like Environment, Pollution, Sewage, Traffic, Forest, SEZ, and any others that are applicable.
9. Sanctioned Building Plan by Statutory Authority
The builder must submit this plan so that potential buyers are aware of approved plans, and can see if there are any deviations.
10. Power of Attorney
In case you are unable to be present to conduct the transactions you must draw up a POA so that a trusted person can transact on your behalf. It ensures smooth dealing and protects your interests.
11. Development Agreement with the Builder
This t is a legal agreement between the builder and the buyer, and it describes the terms and conditions of property development.
Conclusion
Thrissur will be the next real estate hotspot thanks to the increased employment and entrepreneurial opportunities. It is already famous as the cultural capital of Kerala. Varma Homes brings you premium 2 and 3 BHK apartments with world-class amenities to take your living experience to the next level. We provide exemplary customer service and help you throughout the entire process, including assistance in getting the necessary documentation.
As a reputed builder, we adhere to all regulations and deliver excellent living spaces to home buyers. Contact us for more details.
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