Remember these Pointers While Going to Register Your Property
Mar 07, 2018 Home Trading Steps
According to the provisions of the Registration Act, 1908, after buying a property it is mandatory to register its sale agreement.
Here are some easy tips to remember that will help you with the process of registration without any hassle.
Plan your day: the timings of the Sub-Registration Magistrate office operates between 9.30 am to 6 pm on all working days. Their lunch time is from 2 pm to 2.30 pm, so you need to plan your day accordingly.
Prepare beforehand: a day before the registration, organise all your necessary documents that are required at the time of registration. Important documents like Aadhaar card, PAN card, voter ID card, driving license or even passport along with the property documents should be kept handy. These are the first things that you need to show when your name gets called at the registration office. It is better not fiddle with the papers again and again as then you might be at a risk of losing papers. Before you leave for the registration, be sure that you have all the required papers. Keep the entire day for the registration as you never know how much time the registration process might take.
Payment of registration charges: these days the stamp duty and registration charges are actually paid much before you appear at the sub-registrar’s office for the registration of the process through the digital mode. Hence it is advised to take a lawyer’s help to take care of the transaction part as well. It is only after the stamp duty and registration charges are paid that an appointment for property registration is taken.
TDS: in case the property transaction is worth more than Rs 50 lakh, then the buyer needs to submit the proofs which show that the buyer has deducted one percent as TDS from the value of the property. Make sure that you have kept that paper with you.
Presence of witnesses: witnesses are important. During the entire process of registration, the witnesses need to be present with you carrying a valid ID proof with them.
Delivery of the registry paper: once you produce the receipt that you get at the time of registration, your documents will be handed over to you. Ideally, it takes 15 days to get registered. If you have taken a home loan then the bank might send their representative to collect the documents or even you can also collect the documents and give it to the bank.
Here are some easy tips to remember that will help you with the process of registration without any hassle.
Plan your day: the timings of the Sub-Registration Magistrate office operates between 9.30 am to 6 pm on all working days. Their lunch time is from 2 pm to 2.30 pm, so you need to plan your day accordingly.
Prepare beforehand: a day before the registration, organise all your necessary documents that are required at the time of registration. Important documents like Aadhaar card, PAN card, voter ID card, driving license or even passport along with the property documents should be kept handy. These are the first things that you need to show when your name gets called at the registration office. It is better not fiddle with the papers again and again as then you might be at a risk of losing papers. Before you leave for the registration, be sure that you have all the required papers. Keep the entire day for the registration as you never know how much time the registration process might take.
Payment of registration charges: these days the stamp duty and registration charges are actually paid much before you appear at the sub-registrar’s office for the registration of the process through the digital mode. Hence it is advised to take a lawyer’s help to take care of the transaction part as well. It is only after the stamp duty and registration charges are paid that an appointment for property registration is taken.
TDS: in case the property transaction is worth more than Rs 50 lakh, then the buyer needs to submit the proofs which show that the buyer has deducted one percent as TDS from the value of the property. Make sure that you have kept that paper with you.
Presence of witnesses: witnesses are important. During the entire process of registration, the witnesses need to be present with you carrying a valid ID proof with them.
Delivery of the registry paper: once you produce the receipt that you get at the time of registration, your documents will be handed over to you. Ideally, it takes 15 days to get registered. If you have taken a home loan then the bank might send their representative to collect the documents or even you can also collect the documents and give it to the bank.
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