Settlin has ensured that I know the basics about the Bangalore real estate. I would love to share my learning with the world.
Following are the most crucial documents that you need to have for your property (or a property that you want to buy).
A document entitling the property to an owner. The most important document for any property. Without this, property is government’s.
A document confirming that a building, house or project has been completed, in compliance with the existing regulations and submitted floor-plan. It precedes an occupancy certificate.
Occupancy certificate (alias Possession Certificate)
A document confirming that a property is ready to be occupied. Applicable for certain residential complexes, viz. buildings
- consisting of more than one basement floors
- consisting of more than five floors
- has a development plan approved by BDA (hence, all builder flats)
Occupancy certificate is now a mandatory requirement for securing A Khata for apartments.
Encumbrance Certificate (alias No Encumbrance Certificate)
An NOC document ensuring that there are no encumbrances, i.e., outstanding loans/charges on the property.
A Khata — B Khata
Type of accounts (registrations) issued by BBMP for the purpose of property tax. It simply means that if you want to pay the tax for a property, you can quote the account and do so.
The most common cause for a property being a B Khata is that the construction has not been according to the sanctioned plan, or BBMP has not yet verified it.
Only applicable in case of a co-operative society, when the society issues share certificates to owners of the flats. An outgoing member transfers his shares to buyer signifying transfer of ownership of the flat.
A BBMP scheme to ensure easy conversion of B Khata properties to A Khata, by simply paying a nominal penalty for the construction and sanctioned plan differences. The scheme officially ended in March 2016.
The conversion is still possible if all the required documents are there. This scheme was more like a VDS for income tax. To regularise properties with a penalty.
The scheme has never been approved by the courts as a legal option. But considering the demand, there is a high chance that such a scheme will soon find its place in the BBMP offices again.