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Documents To Verify Before Buying Commercial Properties

Alright, folks! Are you ready to embark on an exciting journey into the realm of commercial property buying in Pune, India? You bet! Pune, a city buzzing with endless opportunities, presents a golden chance to set up your dream shop and watch your business flourish.
But hey, before you dive into this adventure headfirst, let me spill the beans on a secret to a successful purchase – verifying those all-important documents! Oh, yes! We’re talking about the nitty-gritty details that’ll save you from future headaches and ensure a smooth sail. So, let’s dig into the juicy details of the top documents you got to check out before sealing the deal on your new shop in Pune for sale!

Sale Deed: Ensuring Ownership
The first document to scrutinize for commercial properties is the sale deed, which serves as the primary proof of ownership for the seller. It outlines the transfer of property rights from the seller to the buyer. Verify that the sale deed is registered with the appropriate authorities and cross-check all the details mentioned. This will safeguard you from any potential legal disputes in the future.

Building Plan: Compliance and Structure
The building plan is another crucial document for commercial properties that warrants your attention. It provides the layout and structure details of the commercial property. Check if the building plan aligns with the actual construction, and if any modifications were made, ensure they are approved by the concerned authorities. This step ensures that the property complies with the building regulations and safety standards.

Completion Certificate: Assurance of Finishing Touches
A completion certificate indicates that the construction of the commercial property is finished as per the approved building plan and meets the required quality standards. This certificate assures you that all necessary amenities and facilities have been provided as promised by the builder.

Tax Payment Receipts: Clearing Financial Obligations
To avoid any legal liabilities or surprises, verify the tax payment receipts of the property. Ensure that the seller has paid all relevant property taxes and there are no pending dues. This verification will prevent you from inheriting any tax-related issues after the purchase.

Encumbrance Certificate: A Clean Slate
The encumbrance certificate is a crucial document for commercial properties that reveals the property’s legal status, confirming that it is free from any monetary or legal liabilities. This certificate assures you that there are no pending mortgages, liens, or legal claims on the property.

Conversion Order: Land Usage Authorization
In the case of commercial properties, a conversion order is essential. This document grants the change of land use from agricultural or residential to commercial, enabling you to establish your shop or business without any legal hurdles.

Possession Certificate: Claiming Ownership
The possession certificate is a vital document that signifies the actual handover of the property from the seller to the buyer. It’s essential to obtain this certificate upon taking possession to safeguard your ownership rights.

With these essential documents verified, you can confidently invest in commercial properties in Pune. However, remember to consult with legal experts and professionals during the process to ensure a smooth and secure transaction.

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