What Are

The Documents and Stages

Documents that are vital in taking you closer to the home you desire.

Which documents are needed to verify while buying a residential or commercial unit?

  1. The landowner/promoter requires the ownership documents including title certificate while a developer/promoter who is not an owner but has acquired the development rights requires development agreement.
  2. Certificates like Intimation of Disapproval (IOD)/Commencement Certificate/Development Permission and the building plan/s that are approved by the competent authority. Plus a commencement certificate.
  3. Depending on the nature of the plot or the type of development, other permissions issued by the competent authority.
  4. The occupancy certificate issued by the competent authority if the construction is completed.
  5. The sale agreement draft, brochure for specifications, layouts and amenities in the layout.

Is the agreement for sale executed by the developer/promoter?

As per the provisions of the Real Estate (Regulation & Development) Act, 206, the developer/promoter need to execute an agreement for sale if the intended purchaser wishes to proceed for purchase of premises.

What is the procedure for execution of the agreement for sale?

  1. The payment of adequate stamp duty for the agreement for sale.
  2. Execution of the agreement for sale by the developer/promoter and the purchaser/allottee(s).
  3. Lastly, the registration of agreement for sale.

How to do the registration of Stamp Duty Execution?

  1. The stamp duty should be borne and paid by the purchaser as per Section 30 of the Maharashtra Stamp Act, 2013 unless there is an agreement.
  2. The stamp duty should be equivalent to 5% on the market value of the unit that has to be paid on the agreement for sale.
  3. The stamp duty payment is made through E-Payment through GRAS (Govt. Receipt Accounting System).