Keep these in Mind while Preparing to Register your Property
According to the Registration Act, 1908, it is mandatory to register the sales deed of the property when buying it. Without the registration of sales deed, the entire process of name and title transfer is of no use. Sales deed is the proof that you have paid your dues, stamp duty and registration charges when buying the property.
As a buyer, the entire process of buying a property can be really exciting. You might have made all the preparations, got all your documents ready. We make a list all the things you need to keep in mind before going to register your property.
- Documents:
Keep all your documents handy. From the documents required at the time of registry to your ID proofs, keep everything in a file, so you do not forget it before you leave for the registration. Make a checklist of the required document and put them together.
- Be there on time:
Keep schedule clear for the day. The working hours of sub- registrar’s office are from 9 am to 6 pm on all working days. Registering a property can take a whole day and be prepared to spend your entire day there.
- Payments and transactions:
The appointment for registration is only given once you have paid all your dues, stamp duty and registration charges. If you are not sure about how the transaction will happen, then you can take the help of a lawyer who can guide you through the process.
- Witness signature:
While registering your property, you will need witnesses. It is better if they are going to stay with you through the process and carry their valid ID proof. Keep in mind that your witness should know you closely and not only for the academic or professional purpose.
- No special queues:
At sub- registrar’s office there are no queues for women or senior citizens. Everyone is treated equally, and you cannot proceed until your turn comes.
- TDS:
If the transaction is over Rs 50 lacs, then the buyer will have to present the receipt of one percent TDS deduction from the property value. Keep the receipt with you when you go for the registration.
- Document collection:
It usually takes 15 days for your property documents to get registered. They will be handed to you afterwards. The sub-registrar will give you a receipt at the time of submitting the document. Make sure you take the receipt with you when you go to collect the document. They will not hand over you the documents unless you produce the receipt.
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