Home buying is a joyful experience and registering the property the right way is an integral part of the entire process. It is easy to choose a home of our choice but the complex part of it is becoming the lawful owner. Whether it is buying, selling, renting, or leasing of a property, section 17 of the Indian Registration Act 1908 states that it is compulsory to register all the concerned documents. Home buyers should be very clear about the paperwork and legal issues and should never hesitate to get help from professionals. Let us now go over the process of purchasing a property as well as how to conduct the registration procedure. In almost every state in India, registrations are done at the sub-registrar’s office. Now, online registrations have brought down the hassle, enabling timely services for both plots and flats registration.
Property registration is mandatory for every Indian citizen. The person in whose favor a property is registered becomes the owner. If the documents are not duly registered, the law does not recognize the registered owners nor provide them with any rights over the property. Thus, if you are thinking of buying or selling land, check out the following:
Have these documents when you go in for registering the property:
The duly registered document could be collected from the sub-registrar after 2-7 days. The certificate with all the registered information would be provided, and the original copy of the deed would also be given. You should register your property within four months from the date of execution of the transaction.
Online transactions have turned property registrations easier. Stamp duty can be calculated easily from the online portal. Keep the following in mind for property registrations:
Many Land Laws of India, as well as the Registration Act of 1908, were enacted to secure the lawful transfer of land. Land registrations are a must as they generate income for governments and local authorities. Once the land is registered, the government keeps a track of your property and it will help authorities to prepare a land-use map. The registrations will also help the government solve any future land-related issues (after a few decades).
Above all, the registered land owner will be eligible for compensation if the land is needed by the government for any development or infrastructure projects.
Now that we have understood the need for registration and all the necessary documents for it, let us know the procedure or know-how for the process.
Encumbrances: Before proceeding with the property sale, it is very important to know if there are unresolved debts, liabilities, or any overdue taxes for the property you are planning to buy. For this, you need to obtain an encumbrance certificate (EC) from the government. The EC which is proof of ownership of the property contains all the transactions registered with the Registration Department, relating to the particular property for a certain period.
The buyer should verify for any encumbrances, at the sub-registrar’s office in the municipality where the property is located, and get them resolved before going ahead with the deal.
After obtaining the EC, a verbal contract can be reached between the seller and the buyer for the acquisition of the property and they can go ahead to complete the sale document. Legal advice is a must to complete this step. Paying the stamp duty and registering the sale deed is the final part of the procedure. To execute this, one must submit all the above-mentioned papers at the sub-registrar’s office and complete the registration.
Even if you go in for an online registration, you can complete the process only by showing up at the sub-registrar’s office. For the online procedure, you need a mobile number as you will receive OTPs during the registration procedure, and an SMS once everything is completed.
After all the procedures are completed, registration of the property paperwork takes roughly two weeks. We will have to go to the sub-registrar’s office to get the papers and documents.
