What Is The Property Registration?
As you have finalized the property of your choice and you want to purchase the property. Property registration is the most important step to own the property legally. The law does not consider someone as a property owner if the property is not registered in his name. The law does not accept unregistered individuals as owners of the property. So property registration is very important.
Registration of property is the complete & final agreement that states all the conditions & amounts under which the property is being sold and bought by the buyer & seller. After the preparation of the agreements, the documents are needed to be stamped and the duty fee needs to be paid.
Important Documents For Registration Of Property
- Signed & Executed Duty Stamp
- The property owner has to sign the sale deed & appear in the Registration Office
- Patta (ownership) transfer application with court fee
- PAN Card & Aadhar Card
- The ID Card of the witnesses
- The ID Card of the Claimant & Executants
The Registration of all the properties is performed under the Registration Act, 1908
Complete Procedure For Your Property Registration
1) Calculation Of Stamp Duty
The ownership of a property does not change without property registration & payment of stamp duty. Stamp duty is a tax charged by the Government Of India on the purchase or selling of properties. Generally, Stamp duty is 3-10 % of the government rate of the property. While the Registration charges are 1 % of the government rate.
2) Payment Of Stamp Duty
There are mostly three ways to complete the payment of your stamp duty -
- Non-Judicial Stamp Paper: You have to buy the non-judicial stamp papers from the authorized stamp vendors in your localized area. The price of stamp papers must be equal to the value of stamp duty.
- Franking Method: You have to go to the franking center or Bank having the machine. Once you pay the stamp duty in the bank, they will put the stamp mark on your sale deed or document confirming the payment of stamp duty.
- Online Payment Of Stamp Duty: You have to pay the stamp duty online directly to the Stock Holdings Corporation of India Limited (SHCIL). After payment, you will get the e-stamp having all the details of the buyer & property.
3) Print The Sale Deed:
You have to make a draft of the sale deed consisting of all the details of the buyer, seller & property details. Once, the draft is complete, you have to print the draft on stamp paper. Both the buyer & seller have to sign on each page.
4) Registration at Sub-Registrar Office:
You should make an appointment or token from the sub-registrar office. The buyer, seller & two witnesses must have to present at the Sub-Registrar office at the time of Registration. This is the final step of the registration of your property.
Why You Should Consult An Expert Before Buying Any Property?
- Fraud Prevention: You should pay attention to various things while buying any property. A legal consultant will help you to not lose your money.
- Pending Dues Or Loans: You should check for any pending dues or loans against the property.
- Cases Or Title Suit: Many times the seller tries to sell their property with pending cases on it. A lawyer can guide you about the legal aspect of that case.
- Draft and File the affidavit, sale deed in court.
- Stamp Duty Calculation: An expert will help you know your property’s correct circle rate and correct calculation of stamp duty & registration fees.
How Lead India Can Help You:
- Hassle-Free & Smooth Process: You do not have to worry about the process of property registration. We will draft & file all the paperwork & documents.
- Avoid Property Scams: We will check for all the loans, debits, & payment of property taxes. We also ensure the pending title cases on the property. We will check for the real owner of the property.
- Property Experts: We have a team of trained professionals with a lot of experience in successful property registrations. We have served more than 15000 clients all over India.
- Free Legal Advice: You can get our free legal advice on the call regarding your issues related to property registration.
Need Help?
Get assistance from our support team in finding the right lawyer