PROPERTY REGISTRATION PROCESS IN INDIA
Property registration in India is a complicated process and requires a proper understanding of state and central laws that regulate the whole process. This is precisely why Knowledgentia Consultants which is the best law firm for property registration in India can be your most trusted partner for a hassle free and smooth registration. Property Registration in India is a process of formalizing the transaction through registration at sub registrar’s office after payment of stamp duty once there is a transfer of property from one person to another. Under the Indian laws, specifically Registration Act, all transactions involving a sale of immovable property valued for more than Rs.100 need to be mandatorily registered.
PROCEDURE OF PROPERTY REGISTRATION IN INDIA:-
- The first step is to get the title of property verified and conduct a proper due diligence.
- The next step is to estimate the value of property according to circle rates.
- Calculation of stamp duty and other charges that need to be paid for registration.
- Purchase of stamp papers as per total value.
- Preparation of sale deed with help of legal professionals and getting the same typed on stamp papers.
- The buyer and Seller have to reach at the sub registrar’s office along with two witnesses. Each person must be present with their original identity proof.
- After registration of sale deed, a receipt is generated.
- After 2-7 days, one can approach the sub registrar office to collect the documents including sale deed.
DOCUMENTS REQUIRED FOR PROPERTY REGISTRATION IN INDIA:-
- Two passport size photographs each of the buyer, the seller, and the two witnesses.
- Proof of Identities such as Passport, Aadhar Card, Voter ID Card, PAN Card or Driving License of the buyer, seller and the two witnesses.
- Copy of the latest property register card.
- Copy of the municipal tax bill.
- Proof of payment of stamp duty, registration tax, and payment to the seller.
- Copy of No Objection Certificate (NOC), if required.
- Sale Deed
- Stamp Paper
ONLINE PROPERTY REGISTRATION IN INDIA
Technology has now made e-registration of property possible as well. The process for online property registration in India is as below:-
- The first step is to find out if your state has an online portal for e-registration of property.
- Only certain parts of property registration can be done online such as:
- Finding out the stamp duty rates.
- Payment of the stamp duty and registration fee online.
- Receiving of the receipt for your payment online.
- After receiving the receipt, one has to visit the sub-registrar’s office to complete process of property registration.
- If the property value exceeds INR 50 lakhs, one has to pay 1% TDS on the property value. One can pay the TDS online.
- Certain information needs to be provided for online property registration such as type of property, ownership status, description of the property, proof of property, and your personal details.
WHY CHOOSE KNOWLEDGENTIA FOR PROPERTY REGISTRATION 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 lawyers in 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 email@example.com or visit our website –https://knowledgentia.com/.
PUBLISHED BY MS. APARNA JAIN, MS. HARINDER NARVAN AND MS. ASASHRIKA AHUJA AS ON 25.03.2022