Documents required for the registration of immovable property?
Below are some documents required for the purposes of registering the immovable property:
Passport-size photos of both seller and buyer
Verified copy of the original sale deed
Copy of N.O.C under land ceiling act
Copy of latest property card
Copy of municipal tax bill
Construction complete certificate
Recorded agreement between the purchaser and the builder
The registration of property basically refers to registering the changes in ownerships related to the land or any other immovable property. The Indian law which governs the registration of property is the Indian Registration Act, 1908.
Is registration of property compulsory?
As per the Indian Registration Act, 1908 all transactions which involve the sale of the immovable property above the value of Rs 100/- need to be compulsorily registered. Registration of property is a full and final agreement signed between the two parties.
Where is the registration of the property done?
The registration is done by the Sub-Registrar in the Registrar office under whose jurisdiction the immovable property lies.
Process of Registration
Following are the procedures or processes of property registration:
You need to estimate the value of a property according to the circle rates
Compare the existing rate with the actual rate paid (paying stamp duty).
You will have to buy non-judicial stamp papers of the value (whichever is higher between existing rate and the actual rate paid)
Now you need to get the deed prepared and typed on stamp papers. The subject matter varies according to the nature of the transaction
The next step is to get the deed registered at the sub-registrar’s office. You need to bring two witnesses and the necessary documents as mentioned above
After the sale deed gets registered, you get a receipt. About 2-7 days after that, one can re-approach the sub-registrar’s office to collect the sale deed
Once your original sale deed is registered, you can also get it verified using the details of registry and date from the office of the registrar.