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POSSESSION | Hand-Over FAQs

Q1. What is the Property Handover Process?

In order to take handover of your property, the process shall be as follows:

  • “Letter of Intimation” i.e. a demand note for possession installment will be issued
  • Complete Payment and documentation should be done towards final payment request sent including total sale consideration, other charges like IBMS, Maintenance related charges such as electricity supply charges, piped gas charges etc.
  • “Offer of Possession” to be issued. It will only be issued if dues are cleared as per “Letter of Intimation”. This letter will be valid till a respective timeline and all possession formalities should be completed within specified valid timeframe. In case “Offer of Possession” expires holding charges and maintenance charges will be levied as per Apartment Buyer’s Agreement
  • Execution of final documents related to possession such as Possession letter, Inventory List, and Maintenance Agreement will be done. Keys handover will also be done
  • In order to execute the documents above, he/she/they must produce all the necessary documentation after which he/she/they can take possession of the property. The documents required are as follows:
     

  • Individual Owners and HUF:
  • All Payments as per final SOA
  • NOC for possession from respective bank in case the unit is under mortgage
  • Indemnity cum Undertaking
  • Power of Attorney or Notarized Letter of authorization from all owners/spouses (if they are not present)
  • Photo ID proof of all owners
  • Original Buyers' agreement
  • PAN card

  • Company Ownership:
  • All Payments as per final SOA
  • NOC for possession from respective bank in case the unit is under mortgage
  • Indemnity cum Undertaking
  • Board Resolution Authorization - Letter of authorization on company letter-head signed by the authorized signatory authorizing the representative to do the handover
  • PAN Card of the Company &Copy of ID Proof of authorized signatory (for signature verification)

Q2. What will happen on the day “Possession” is scheduled?

"Possession" is an opportunity to formally collect keys of your apartment post completion of documentation formalities. You will visit your home with one of the Project/Facility Management Representatives' in order to complete the possession process. During "Possession”, any matter that requires attention will be recorded on a Snag list and we will ensure all these Snags (subject to acceptance by our Representative) are rectified. You will receive a call/intimation from our relationship team to schedule an appointment for your "Possession" basis the "Handover Schedule".

Q3. Can I authorize someone to take the "Possession" on my behalf?

Yes, you may. We would require an attested Special Power of Attorney with an authorization letter with the name and number of your representative, clearly stating that you wish to authorize him to take-over "Possession" of your unit on your behalf. Please include a copy of your id proof for signature verification.

Q4. Can I change my "Possession" date?

Yes, you can change your unit possession date only once, as long as it is within the time period scheduled for the hand-over, subject to receipt of all payments.

Q5. Can I rent my property once it's handed over to me?

Yes, you can rent out the unit post Possession. You would be required to share the details of the tenant with the Facility Management team.

Q6. I want to sell my property but haven't paid in full, can I get the keys to show the property to a prospective tenant?

Handover of the keys can be done after all associated formalities are completed as explained above.

Q7. Is it possible to get the keys to my home one day before the handover date?

No, we will issue keys only on or after the handover date.