Kalpataru documentation

Documentation

 

This section gives you an overview of the paperwork it takes to purchase an apartment or villa.

 
 
 
 
Kalpataru documents
01
 

What are the documents that should be verified before buying a residential / commercial unit?

 

Ownership Documents of the Land Owner/Promoter including title certificate .

Development Agreement, if the Developer/Promoter is not the owner and has acquired the development rights.

Intimation of Disapproval (IOD)/Development Permission/ Commencement Certificate and the building plan/s approved by the competent authority.

Commencement Certificate.

Other permissions issued by the competent authority depending on the nature of plot/type of development.

If the construction is completed then the Occupancy Certificate issued by the competent authority.

Draft of Agreement for Sale and brochure for specifications, layout and amenities in the flat/complex/layout.

 
 
 
 
 
Kalpataru documents of purchase premises
02
 

What documents are required to be executed if the intended purchaser wishes to proceed for purchase of premises?

 

The Developer/Promoter shall execute an Agreement for Sale as per the provisions of the Real Estate (Regulation & Development) Act, 2016

 
 
 
Kalpataru agreement for sale
03
 

What is the procedure for execution of the Agreement for Sale?

 

The procedure involved is three-fold:

 

Firstly, the payment of adequate stamp duty on the Agreement for Sale

Secondly, Execution of the Agreement for Sale by the Developer/Promoter and the Purchaser/Allottee(s) and;

Thirdly, Registration of Agreement for Sale.

We shall deal with the above aspect in detail as under:

Stamp Duty
Execution
Registration

Unless there is an agreement, the stamp duty shall be borne and paid by the purchaser as per Section 30 of the Maharashtra Stamp Act, 2013. The stamp duty to be paid on the Agreement for Sale shall be equivalent to 5% on the market value of the unit. The mode of payment of stamp duty is E-Payment through GRAS (Govt. Receipt Accounting System).

After the payment of stamp duty on the Agreement for Sale, the same shall be duly executed by all the parties, i.e. the Developer/Promoter and the Purchaser/s.

All the pages of the document should be signed by all the parties.

The duly stamped and executed Agreement for Sale should be presented at the office of the concerned Sub-Registrar of Assurances for registration within 4 (four) months from the date of execution of Agreement for Sale.

Registration of the Agreement for Sale is compulsory as per Section 17 of Indian Registration Act, 1908.

The registration fees shall be an amount being 1% of the market value of the unit, subject to maximum of Rs.30,000/-.