Streamline your tax compliance with our expert-assisted GSTR 9 & 9C services @ ₹14,999/-

Tax efficiency, interest avoidance, and financial control with advance payment @ 4999/-
Sale Deed

Possession Certificate – Format and Rights of the Property

Possession certificates are documents which are granted by the court to the individual who has been adjudged to be a legal possessor of a property. The certificate is a proof that the person is the legal owner and is entitled to live in it. A possession certificate also proves that the person is allowed to sell, transfer or mortgage their property.

Poshan Vyavastha: Why Is It Needed?

A possession certificate is a document that proves that you are the rightful owner of a piece of property. It is issued by the government authority responsible for the registration of properties in your state or union territory. The certificate contains the details of the property, including its location, area, and any restrictions on its use.

The possession certificate is an important document because it gives you the legal right to use and occupy the property. It also protects you from any claims by other people who may claim ownership of the property. If there is a dispute over the ownership of the property, the possession certificate can be used as evidence in court.

If you are planning to buy a property in India, it is important to make sure that you obtain a possession certificate from the seller. This will ensure that you are the rightful owner of the property and will protect you from any future disputes.

Format of Possession Certificate

The format of a possession certificate may vary from one developer to another, but it typically contains the following information:

– The name and address of the developer or builder.

– The name and address of the purchaser (i.e., the person who has taken possession of the property).

– The address of the property.

– The date on which possession was taken.

– A description of the property (e.g., number of bedrooms, square footage, etc.).

– The terms and conditions under which possession was granted (e.g., full payment made, occupancy permit obtained, etc.).

You can skip the hassle of making sure the possession certificate is of the right format with Vakilsearch today.

Who Needs to Obtain a Possession Certificate?

A possession certificate (PC) is a document that proves that you have the legal right to occupy a property. It is usually issued by the developer or builder of the property, and states that all construction on the property has been completed in accordance with the approved plans and regulations. The PC also confirms that all outstanding dues have been paid to the concerned authorities. In some cases, the PC may be issued by the local municipality or panchayat.

Anyone who has purchased a property in India will need to obtain a possession certificate. This is especially important if you plan on taking out a loan against your property, as most banks and financial institutions will require a PC as part of their due diligence process. Additionally, some states may make it mandatory to obtain a PC before you can register the property in your name.

Rules and Regulations for Obtaining a Possession Certificate

In order to obtain a possession certificate in India, there are certain rules and regulations that must be followed. First and foremost, the applicant must have all the necessary documents in order such as the title deed, sale agreement, and so on. The application for the certificate must then be submitted to the competent authority, which is usually the sub-registrar or district registrar. After the application has been processed, the authority will issue a possession certificate to the applicant. This certificate is generally valid for a period of one year and can be renewed thereafter.

Eligibility Criteria for Application

The application for a possession certificate can be made by any person who is eligible to make an application for the registration of sale deed of the property. The applicant must be the owner of the property or his/her authorised representative. The application must be made in the prescribed format and accompanied by the required documents. The prescribed fee must also be paid.

Get Legal Advice

Validity of the Possession Certificate

The possession certificate is a document that proves that the person who holds it is the rightful owner of the property. The certificate is valid for a period of 12 years from the date of issuance, after which it needs to be renewed. The certificate can be transferred to another person only with the permission of the original holder.

What if the Person Can’t Move Into the Property Within 180 Days?

In India, a person can be registered as the owner of a property only if they have a possession certificate. This certificate is proof that the person has the right to live in or use the property.

If the person cannot move into the property within days of taking possession, they may lose their right to the property. The possession certificate must be obtained from the local authority where the property is located.

The possession certificate is valid for one year from the date of issue. After that, the property owner must renew it every year. If the property is sold, the new owner must obtain their own possession certificate.

The possession certificate gives the property owner several rights. They have the right to live in or use the property. They also have the right to sell or lease the property.

Overall, the possession certificate is an important document for anyone who owns a property in India. It gives them several rights and ensures that they can keep their property for as long as they want.

Ready to get your possession certificate? Contact Vakilsearch now!

Subscribe to our newsletter blogs

Back to top button


Remove Adblocker Extension