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Property Registration :- |
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The property location, legal ownership document, date of purchase of the title, property transfer and inheritance issues, if transferred the legal authority of the transferee, clearance certificate from urban land ceilings authorities, payment of all dues like property taxes, electricity and water bills and any previous alterations in the property registration are the points that require careful scanning. This entire process can cost up to Rs. 10,000 and take 5-7 days to complete. |
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House Registration Agreement :- |
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This process takes place at the Local Stamp Duty Office and takes around 7 days to complete. The fee involved is Rs. 100. |
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Preparation of Property Sale :- |
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This is done by an authorized house registration attorney on behalf of the purchaser. The final deed is printed out on a green paper with stamp duty stamp affixed on it. This involves a fee of 1% of the property value and might take 7 days again. |
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Final Registration :- |
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The house registry or land registry is then stamped, executed, and finally registered in the presence of seller, buyer and two witnesses at the office of the Registrar of Assurances at 5% market value of the property as Stamp Duty. This process takes just 2 days to complete. |
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Submission of Documents :- |
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The completed home registry is then submitted to the Reader of the Sub Registrar of Assurances for scrutiny. Then at the payment of 1% of the transaction value or Rs. 30,000 whichever is less, the documents are presented before the Sub Registrar. The seller then hands over possession of the property to the buyer. The documents are handed over to the buyer within 30 minutes of submission of the payments receipt. |
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The Title of The Property :- |
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The purchaser now has to apply to the local Authority to get the title of the concerned property mutated in his favor with all the relevant documents that your Real estate attorney would guide you about. The Authority then assigns the property value for levying property tax and then issue a letter of mutation in favor of the purchaser.Here is a list of sites to help you finalize all the necessary documents. The sites are listed to assist you in all matters relating house registration and documentation. |
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