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Aarti, a government employee, planned to buy a house three years ago. After completing the necessary paperwork, the builder promised to give the house to Aarti in 36 months. For this, Aarti was given a possession letter by the builder which had the date of handing over the house. But after three years, the project in which Aarti had bought the house was not completed. Complained about this in RERA. When RERA proved that there was a delay in handing over the house on the basis of possession letter, the builder was ordered to refund. Thus, possession letter is helpful while purchasing an under construction house.
When a builder or developer builds a property like a flat or a duplex, he gives a certificate to the buyer. This certificate bears the date of handing over to the home buyer.
Q. Does possession of the property lead to actual possession of the property?
A. Possession letter and actual possession of the property are two different things. Till the time there is no actual possession of the property, the possession letter is just a promise. This law document is helpful in any kind of delay or fraud in the transfer of property.
Q. Does possession letter prove ownership of the property?
A. The possession certificate is only a supporting document to prove the ownership. Cannot be used as the sole document to prove ownership. However, it is a legal document of ownership along with other documents.
Q. When is possession certificate required?
A. It is required if you want to take a housing loan for an under-construction property. This is also necessary in transferring property to someone else's name. If a person wants to transfer his property to someone else, then he will need a possession certificate. It will contain the name of the person transferring the property and the name of the person being transferred.
Q. What are the documents required to get the possession certificate?
A. Proof of property, ration card, contract letter, payment proof, ID proof.
