Real Estate Property Registration Laws in India | Required Documents, Process, Deadlines
Registration of documents in India comes under the Indian Registration Act. Under this law, various documents are registered so that protection of evidence, fraud prevention, and title can be ensured.
Essential documents required for compulsory registration
- Registration Act 1908, According to section 17, all transactions, including the sale of a real estate (with a value greater than Rs 100) should be registered.
- This means that all transactions related to the sale of real estate should be registered, as no real estate can be purchased for Rs. 100. Apart from this, the property given on lease for a period of 12 months, along with the real estate gift, is also essential to be registered.
- In particular cases, if a party can not come to the sub-registrar’s office then the sub-registrar can appoint an officer to take the registration document from the person’s house. In ‘real estate’, any rights of land, building and these properties are attached.
Process and required documents for Property Registration
- Documents that are to be registered will have to be deposited in the office of the Sub Registrar. Keep in mind that documents in the area where the property is located will be deposited in the sub-registrar’s office. To register the documents, the customer and the seller must be present with two witnesses.
Both parties must have their own ID proof. The documents which are valid for this are the Aadhar card, PAN card or any identity card issued by the government. If both the signers are representing someone they have full power.
- If any company is a party in any agreement, then the person representing it must have a necessary copy of the necessary document such as Power of Attorney / Letter of Attorney, Board of Company’s Resolution, so that it can complete the registration process.
- In addition to payment of stamp duty and real documents, you also need to show property card in sub-registrar office. Prior to registration of documents, the sub-registrar will check whether the stamp duty has been paid according to fixed rates. If there is any disturbance in the stamp duty payment, the sub-registrar can refuse to register the document.
Deadline and fees for Property Registration
- Documents, which are mandatory to be registered, should be deposited with fixed fees within four months of execution. If the time limit elapses, you can file an application in the sub-registrar’s office and apologize for the delay within the next 4 months.
- A registrar can register documents by fines (which can be 10 times the actual registration fee). The property registration fee can be 1 percent of the property.
- The documents you were given for the first registration were given after 6 months. But after the computer comes to the sub-registrar offices, you are returned by scanning the documents the same day
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