Documents required for buying Property in Amritsar

Amritsar: An Ideal place to invest in Property:

Considering its strategic location, and good socio-economic and civic infrastructure, Amritsar is perhaps one of the best cities to live in today. In the last few years, several real estate developers have proactively invested in Amritsar’s real estate and given a further boost to the city’s socio-economic status. Owing to these developments, today there is a huge demand for properties for sale in Amritsar. The following slides elaborate on the documents that people need in order to buy property in Amritsar.

Original Copies of all the Documents

Before going ahead with any property deal, people must always ask for the details of the property which include information like survey number, surrounding land details, size of the land and more. Also, copies of ID proofs of both, the buyer and the seller must be included and made available for scrutiny before the deal is taken any further.

Valuation

This document is issued by the Tahsildar and gives a legitimate valuation of the property so the buyer is well-aware of the price point and does not end up paying way higher than the current market price.

certificate

Encumbrance Certificate

This certificate testifies to the fact that there are no financial or legal liabilities on a particular property. With the help of this document, buyers can rest assured that they are not being duped into buying a disputed property. Also, whether it is a property for sale in Amritsar or any other city in question, whenever there is any requirement for a loan banks will always ask for this certificate.

Khewat Number

This is another document that is needed for the purchase of property in Amritsar. While in many other states it is known as the Khata number, in Punjab it is known as the Khewat number. This is basically an account number that is given to landowners when they jointly own a land parcel. When ownership of the property changes, this Khewat number changes and is thus an essential document required to establish ownership rights of the property.