You need to definitely keep these points in mind while registering property.
It is mandatory to register the sale deed under the provisions of the Registration Act, 1908. It is a process that is important and exciting for the buyer. You may have already read a lot about the process and we will give you some handy tips that will help you complete the process without any hassle.
Important steps required to register a property
Preparations
Keep all the important documents needed during registration ready. If you’re not careful you run the risk of losing papers. Before you leave the office, ensure that you have collected all documents.
Receipt
Since everything is done digitally, the stamp duty and registration fees are paid before you come to the sub-registrar’s office to register your property. Take the help of a lawyer to take care of this part of the transaction. Appointment to property registration will be taken only after payment of stamp duty and registration fee.
Witness
Your witnesses are very important to the process. They must be present with you through the entire process and have a valid ID proof with them. Your witnesses should be ideally known to you. Consider their role in any process as academic only.
TDS (TAX DEDUCTED AT SOURCE)
If the deal size is more than 50 lakhs, the buyer has to submit proof of deduction of one percent as TDS from the property value. Don’t forget to keep that paper with you.
No privilege
All are considered equal in the office of Sub-Registrar. For example, there are no separate queues for women or senior citizens.
Delivery
Typically, it takes 15 days for your documents to be registered. Your documents will be returned to you only after you produce the receipt given to you at the time of registration. If you have taken a home loan, the bank may send its representative to collect the documents. You may also collect the papers and handover them to the bank.
