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(PROPERTY) Registration - An Overview
It is critical to demonstrate your control over any property, whether it is a magnificent mansion, a little cottage in the middle of a forest, a busy metropolitan flat, or a deserted plot. This is established by registering your property, which aids in the avoidance of later confusion, litigation, and disagreements. We present you a full explanation on how to get your property registered in a world of legal complications, expenses, and many regulations that relate to properties. This article focuses solely on property registration in the National Capital Territory of Delhi.
The registration of a property is a complete and binding agreement between two parties. A person can obtain the rights to a property on the day of the deed’s execution by registering a Sale deed.
PROCESS
Documents necessary for registering a property in Delhi:
- Two passport-size pictures of both buyer and seller’s copies of the sale deed
- Fee for e-registration Registration fee receipt with undertaking / affidavit
- E-stamp paper with the required value
- A self-attested copy of Pan Card or Form 60 Original ID Proof of the relevant Parties (Seller, Purchaser, and Witness) such as voter card or pan card if the transaction is for more than 5 lacs.
- Passport, driver’s licence, Aadhar Card, and, in the case of businesses, a power of attorney or board resolution. Here are the steps to take to register your property in Delhi online.
1ST STEP:
Make a deed on the internet. This can be accomplished by going to the Delhi registration portal and selecting Deed Writer from the options on the home page.
2ND STEP:
You can choose the form of agreement you want – most of the time, it’ll be a “sale” but if you’re donating your property or putting it up for lease, you can change your mind.
3RD STEP:
Select the property’s location and fill in the required information about the parties to the agreement, such as the seller and buyer’s names, as well as the names of the witnesses. You’ll also need to input the property’s consideration value.
4TH STEP :
By selecting the designated office of the registrar within which your property is located on the website, you can compute the stamp duty payable directly based on the circular rates in Delhi.
5TH STEP:
Make an e-stamp paper with the appropriate value. You can do so straight here on a website like the Stock Holding Corporation of India.
6TH STEP:
Make an appointment with the head of the revenue department in your area. Using the gateway, this may be done automatically. You’ll need to fill in the location and deed type information here. Check the box next to “all papers ready.”
You must physically meet the revenue register with the required documents and their Xerox copies at their facilitation counter after receiving an appointment. You can also change your appointment time. Take a copy of the acknowledgment receipt that includes the tracking number. This can be beneficial for checking the application’s status online.
FAQs
Each time a property changes hands, it must be registered in the name of the new owner under the different provisions of the Registration Act of 1908. Documents drafted to create, declare, assign, limit, or extinguish & any right, title, or interest in an immovable property worth Rs 100 or more must be registered, according to the Act. The same is true of documents drafted in response to a court order transferring any right, title, or interest in immovable property worth Rs 100 or more. When a property changes ownership, whether through a gift or a lease with a term of one year or more, registration of paperwork is required by law.
The buyer must pay stamp duty and registration fees at the time of registration. While stamp duty varies by state, property registration costs about 1% of the total transaction value. There is also a set charge for property registration in several states, such as Haryana and Maharashtra.
In the time of registration, the buyer and seller, as well as two witnesses each, shall be present at the sub-office. registrar’s If the buyer or seller is an NRI who is unable to attend in person, their legal representatives with a power of attorney must attend.
The registration process will take roughly two weeks to complete, after which you may pick up your documents from the sub-office. registrar’s Once the documents are ready for pickup, you will receive a notification on your registered mobile number.