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Rajeeb   20 October 2019

Purchasing property from auction sale

Dear All,

Recently I have purchased one auction sale of a Bank seized Land with building at Rourkela and is under Orissa Housing Board. I have deposited full bid amount on second week of September and soon after bank has given us the physical possession of the house. After that we have applied to the Orissa Housing Board for changing of ownership and now pending our application.

So far we have received below listed documents from the Bank,

  1. Finalization of the auction process and deposit of Balance bid amount.
  2. Sale certificate and possession of landed property
  3. Sale certificate
  4. Photocopy of the registered Lease Deed executed between OSHB Authority, Bhubaneswar with the borrower (main owner of the property)


Now we intend to request below listed documents from the bank for changing of ownership and for our future record.  


Original housing related documents:

  1. Extracts - Khata certificate or extract of the property.
  2. Copy of Building Plan - A copy of the building plan approved by the statutory body to establish that the construction of the property is legal and is done according to set rules and regulations.
  3. No-Objection Certificates (NOC) - Need to check the numbers of NOC required for OSHB and to keep for our personal record.
  4. Allotment Letter to the first owner (In original) - Allotment letter issued to the first owner by the OSHB, stating the descripttion of the property and details of the amount paid by the buyer.
  5. Sale Agreement between first owner and the OSHB (In original) - This document lists includes all kind of information about the property ― the terms and conditions, the possession date, the payment plan, the specifications, the details about the common areas and facilities, etc.
  6. Possession Letter (Issued to the first owner by OSHB) – In original
  7. Encumbrance Certificate - An encumbrance certificate is required to prove that the property does not have any pending legal dues or mortgages. In India, a Form 15 is issued if a property has any encumbrance registered; otherwise, a Form 16 will be given to the owner, stating there are no encumbrances.
  8. Completion Certificate - This document / paper establishes the fact that the building is constructed according to an approved plan.
  9. Occupancy Certificate - An occupancy certificate is issued by the OSHB to establish the building is finally ready to be occupied and the construction has been done according to a sanctioned plan.
  10. Documents related to the electric connection & water connection to the house. We request for the Payment Receipts from the seller.
  11. Documents related to the Property Tax or holding for the house. We request for the receipts paid by the previous occupier/owner.

Documents related to the Loan – Between main property owner and the Bank

  1. Mortgage Deads
  2. Lease Dead
  3. Certificate of Encumbrance of Property (prior to taking loan from the Bank)
  4. Power of attorney prior to take loan from the Bank (if any)
  5. Valuation certificate prior to take loan from the Bank (if any)
  6. Legal opinion of the property prior to take loan from the Bank (if any)
  7. Copy of Notice and documents related to the Demand Notice for loan settlement, before sale and for auction sale.

Additional documents

  1. Copy of No-objection certificate (NOC) requested by the Bank from OSHB prior to awarding loan
  2. Copy of No-objection certificate (NOC) requested by the Bank from OSHB for this auction sale
  3. Copy of a recovery certificate from Debt Recovery Tribunal (DRT) prior to the Auction sale
  4. For our case the main owner was not the confirming party to the property transaction or any other documentation. Basis that we request to the bank for an indemnity certificate for any future claims from the owner.


Please suggest of any addiitonal informations or documents I should request from the bank. Please advice if any other precautionary steps should I follow for this property?


Thank you in advance.

 1 Replies

Rajeeb   07 November 2019

Dear Experts,

Can you please advice on my query?

Thank you in advance..

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