Payment: Since everything is done digitally these days, stamp duty and registration fees are paid before you show up at the sub-registration office to register your property. Also hire a lawyer to handle this part of the transaction. Only after payment of stamp duty and registration fees will an appointment be made for the registration of real estate. Documents required for [Property Registration in Maharashtra The property registration procedure has now become much more transparent and with the greatest possible clarity without the intervention of an intermediary. While the registration process is not fully computerized and also involves paperwork, the process is simple. The application form can be downloaded online and duly completed with the required documents prior to submission. Expressions that reflect the submission of documents for certification by a person are defined in section 32 of the Registration Act 1908. As stated in section 33 of the Registration Act 1908, the person in charge, representative or agent must present the document to the relevant register in order for it to be registered in accordance with the requirements of the Act. Each property buyer must take a payment to prove in court when he/she made the payment for a specific plot of land purchase. Documents that need to be registered must be submitted within four months from the date of signature, accompanied by the required fee.
If the deadline is exceeded, you can submit a request to the Deputy Registrar within four months to tolerate the delay, and the Registrar can accept the registration of these documents against payment of a fine, which can be up to ten times the original registration fee. The registration fee for ownership documents is 1% of the property assessment, subject to a maximum amount of Rs 30,000. This document is provided to the buyer by the developer and sets a date on which the developer would grant ownership of the property to the developer. The original copy of this document must be submitted in order to obtain a home loan. A letter of assist is one of the most important documents required to obtain a home loan. It is issued by a developer or housing authority and contains the description of the property and details of the amount paid by the buyer to the developer. Remember that a letter of assist is not the same as a sales contract. A letter of allocation is issued on authority letterhead, while a contract of sale is documented on stamped paper. In addition, an allocation letter will be sent to the first owner and other owners can request a copy of the original letter from the seller. Under the Indian Registration Act, 1908, it is important for every landowner to register their property with the registrar of the county property tax office. To know the entire procedure for registering real estate, please follow the steps below: Inspection and approval: We deal with inquiries from the Office and registration with the competent authorities.
All parties must be present when registering the property at the registry office. This is a comprehensive list of land registration documents you should have with you when registering your land. I hope this helps 🙂 collect the original payment receipts from the developer when you buy a new property. If you are buying a resale property, ask for a copy of the seller`s receipts, which must be presented to the bank. Power of attorney is legal proof that the holder of the power of attorney is the person authorized to work on behalf of the owner for the purchase or sale of a property. In this article, we have discussed in depth all the important documents required during the process of registering real estate, land, resale and much more. I hope that if you are leaving or planning to buy a property, it will be useful to you. All real estate transactions in India must be registered under the Registration Act, 1908 and require land registry documents.
The exchange of physical assets must be documented in order to acquire ownership of the property on the date of signing the deed.