Owning a home is a dream for us. Building our own equity is a matter of pride. Ownership rights give us freedom from rent as well as tax benefits. Homeownership creates a sense of belonging to the community. We feel attached to the city and its people. We get more involved in the local cause and control the immediate surroundings. So, we need to know every detail of the legal process involving purchasing a property. One such process is the registration process.
Steps involved in the registration process
✔ Title verification of the property
The documentation process is different for the new buy or the second-hand buy of the property. For a recent purchase of the property, then the onus lies on you to verify the title and if it is a second-hand property, then acquire the document from the owner of the property.
✔ Value estimation of the property: For paying the stamp duty, estimating the property’s value is crucial. The calculation of the stamp duty depends on the property’s price or the area’s circle rate.
✔ Stamp duty papers: You must purchase non-judicial stamp papers from licensed stamp vendors, or you can acquire e -stamp paper.
✔ Sale deed: Get the sale deed ready with the help of an authorized attorney. The subject of the sale deed is based on the nature of the transactions.
✔ Payment of stamp duty and registration fees: Once the sale deed is ready, stamp duty is paid through stamp duty collectors, and the registration charges are paid during the registration process of the property.
✔ Appointment with the sub-registrar – For the registration of the property, get an appointment with the sub-registrar. For the process, you must carry 2 photocopies of the sale deed, the original, and two witnesses.
✔ Document submission: Submit the documents that include NOC, ID and Address proof, DD, or the cash payment of the stamp duty.
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