HOW TO GET YOUR PROPERTY REGISTERED ?

 



HOW TO GET YOUR PROPERTY REGISTERED ?

 

INTRODUCTION

Knowledgentia Consultants is the best law firms in Delhi for Property Registration in India. Since property registration in India is a process involving lot of intricacies, professional guidance from lawyers skilled in the process always serves as a boon. In case of sale, transfer, gift or lease, property needs to be registered if it exceeds valuation amount Rs. 100 in case of immovable property as per the Registration Act.

 

STEP BY STEP TO GET YOUR PROPERTY REGISTERED IN INDIA

 

1.      DUE DILIGENCE AND VERIFICATION OF TITLE OF THE PROPERTY

The first step is to verify the title of the property and identify the real owner so that transfer and registration is a smooth process. The same should be done with the help of professionals so that there are no lapses in further process.

2.      STAMP DUTY CALCULATION AND PAYMENT OF DUES

Stamp duty amount varies from one state to another and needs to be calculated specifically. It is vital that there are no pending payment dues, encumbrances and charges on property. Stamp duty is basically a tax which purchasers of property must pay on the agreement of sales. Now the indirect taxes, sales tax, and value-added taxes are replaced by GST.

Stamp duty charges vary depending on many other factors like:

  • Whether property is old or New
  • Whether property located in rural area or in a city.
  • Owner’s gender
  • Whether property is for commercial or residential purposes
  • Whether property is a flat or a house

3.      DRAFTING THE SALE DEED/AGREEMENT

The Sale deed includes all the terms and conditions related to the sale and purchase of property, such as the amount of earnest money paid, the final selling price/sale consideration for the property and the timeline of that payment, among others. The document is usually drafted by buyer’s lawyer but it is advisable all involved parties take professional help to analyse terms and conditions in order to avoid confusion or misunderstandings. It is important that both seller and buyer mutually agree to all terms and conditions.

4.      REGISTRATION AND EXECUTION OF THE SALE DEED/ AGREEMENT

Although the sale agreement is created on a non-judicial stamp paper, it is vital to get it registered at the office of the Sub-registrar. This is done in front of the purchaser, the seller, and the witnesses at the sub registrar’s office within whose jurisdiction the location of the property falls. A number is given for the document. The number is unique.

This document is given to a person called the reader in the Sub-Registrar office for scrutiny. He will indicate the required fees. The fee is 1% of the value of the transaction. The fee is paid to the cashier and a receipt is given in exchange.

DOCUMENTS REQUIRED FOR PROPERTY REGISTRATION ARE MENTIONED BELOW:

  1. Aadhar card.
  2. Pan Card
  3. Passport-size photographs of seller and buyer
  4. Copy of the original sale deed that has been verified.
  5. Copy of NOC if required
  6. Copy of the latest property register card.
  7. Copy of Municipal tax bill.
  8. Construction completion certificate.

 

WHY CHOOSE KNOWLEDGENTIA TO GET YOUR PROPERTY REGISTERED IN INDIA

At Knowledgentia, we have an expert team to deal with all matters relating to transfer, dispute resolution with regards to immovable property. Considering our clients who are NRI’s we are also able to assist them through online procedures to effectively manage their property in India. We handle the entire ambit of resolution of property disputes including but not limited to issues regarding title, registration, possession, ownership, partition, tenancy, leasehold issues, easements rights, illegal possession of property, mutation and provide satisfactory solution. We have earned a name as one of the most client focused firm providing property registration services in India with a talented team of property transfer lawyers in India and property dispute lawyersin India. We are your one-stop solution for all kinds of legal, compliance and supplemental matters concerning property registration in India. In case of any query regarding this matter you may email us at info@knowledgentia.com or visit our website -https://knowledgentia.com/.

 

PUBLISHED BY MS. APARNA JAIN, MS. HARINDER NARVAN AND MS. AASHRIKA 

 

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