Documents Required to Buy Property in Prestige Falcon City Luxe
When you decide to buy a flat, the excitement of moving into a new home is amazing. But before you get the keys, you have to deal with a lot of paperwork. The most important documents required to buy property in Prestige Falcon City Luxe are your basic ID proofs (like your Aadhaar Card and PAN Card), your family’s income tax papers, the official allotment letter from the builder, and the legal RERA clearance papers. Having these files ready makes it very easy to get a bank loan and helps you register the house in your name without any stress.
Prestige Falcon City Luxe is a beautiful, luxury apartment project built by the Prestige Group on Kanakapura Road in South Bangalore. Buying a home here is a big step, so let us look at the paperwork you need in a simple, step-by-step way.
1. Your Personal Identity Proofs (KYC)
Before the government lets you buy a house, they need to know exactly who you are. You will need to show these common ID proofs:
- Aadhaar Card: You need this because the registration office will scan your fingerprints to verify your identity.
- PAN Card: The government tracks big money transactions through your PAN number, so this is compulsory.
- Photos: Keep passport-sized photographs ready for the application forms.
- For NRIs (Indians living abroad): If you live outside India, you will need a copy of your passport, an OCI (Overseas Citizen of India) card, and a Power of Attorney document if a family member is signing the papers for you.
2. Bank Loan and Money Documents
Most people do not buy a luxury flat with cash; they take a home loan from a bank. To give you a loan, banks need to check if you earn enough money to pay them back. You will need:
- Income Tax Returns (ITR): Banks usually ask for your ITR files from the last 3 years to see your tax history.
- Bank Statements: A printout of your bank account history for the last 6 months to show your salary or business income.
- Salary Slips: If you work for a company, you must show your salary slips from the last 3 to 6 months.
3. Documents from the Builder (Prestige Group)
When you hand over your first booking amount (token money), the builder will give you specific papers. These are the proof that you own that particular flat:
- Allotment Letter: This is a letter from the Prestige Group stating that a specific flat number, on a specific floor and tower, is reserved just for you.
- Sale Agreement: This is a legal contract that shows the final price of the flat, your payment dates, and the date the builder promises to finish construction.
- RERA Papers: The Real Estate Regulatory Authority (RERA) is a government body that protects buyers. Prestige Falcon City Luxe has a RERA number, and you should keep a copy of this certificate.
4. Land Approvals and Legal Clearances
You must make sure that the building has permission from the Bangalore city authorities (like BBMP).
- Commencement Certificate (CC): This is a certificate given to the builder by the city council, proving that the building has permission to be constructed and follows all safety rules.
- Encumbrance Certificate (EC): An EC is a document that proves the land does not have any unpaid loans or legal fights going on in court. It means the property title is clean.
- NOCs (No Objection Certificates): These are safety certificates from different departments, like the Fire Force and the Pollution Board, proving the building is safe to live in.
