Last Update: March 03, 2023, 14:24 IST
Buying your own home is one of the biggest aspirations of an average Indian. With all the consideration, planning and paperwork involved, buying a home or piece of land can be a time-consuming undertaking. The entire process of buying real estate in India is lengthy and involves a number of processes that may differ from state to state, starting from the basic option of purchasing a house or a piece of land and ending with the management of funds, registration and documentation. continues through.
After choosing a residential property, the next step is to get it registered in your name. Even if the buyer has paid the total final amount to the seller, the ownership is not considered to be legally effective until the property is registered.
As per Section 17 of the Registration Act, registration of immovable property in India is mandatory unless its value is less than Rs.100. Once the stamp duty and registration cost is paid, the property gets registered in the name of the new owner.
Registration of real estate in India is a complex process that can have potential long-term effects if not done properly. Consequently, you should exercise caution when registering any property. The buyer must verify that the previous owner has cleared all his dues by checking the documents related to when and how the property was transferred from one owner to another. The encumbrance certificate should also be checked for any pending litigations or mortgages.
Residential property registration is the final contract that specifies all the terms and amounts on which the property is being sold. You will need to submit a number of papers and pay a fee to complete the registration. The filing of the document serves as a record of the execution of the sale.
Documents required for property registration
Passport size photographs of buyer and seller
Identity proof of both the parties- Aadhaar Card, PAN Card
construction completion certificate
Payment receipt of stamp duty and registration fee
Latest property register card copy
a copy of the municipal tax bill
NOC (No Objection Certificate)
power of attorney
property register card copy
Attested Sale Deed Copy
The necessary documents must be registered within four months of the execution of the sale deed. You can submit an application to the sub-registrar justifying the delay in case the submission window is violated and pay the penalty for the same. Document registration may take up to 7 days depending on the location of the property.
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