Your Guide To Property Registration
As per the Registration Act, 1908, homeowners in India are legally mandated to register the properties in their ownership. You may be familiar with the document called sale deed, which testifies to the transfer of ownership of the property, declaring you as the rightful owner of the same. However, it is advised that you have the sale deed registered at the earliest in order to legally complete the property transaction.
Here’s a quick and useful guide to property registration in India:
1. Prepare in advance: In order to have your property registered, you will need to seek an appointment at the sub-registration magistrate’s office. Get all your documents in order for the appointment, and bear in mind that there are no special queues for senior citizens or women.
2. Plan your day ahead: The registration process can take up to several hours, so plan your day ahead accordingly. The office of the sub-registration magistrate usually functions from 9:30 am to 6 pm (with a lunch break in between) every day, excluding weekends and public holidays.
3. Payment of fees: Before you arrive at the sub-registration magistrate’s office for your registry appointment, make sure that you have already paid the requisite fees (stamp duty and registration charges) for the process. Although you can calculate and pay these fees online, it is advised that you seek a legal expert’s assistance especially if you’re doing this for the first time.
4. TDS certificate for transaction: In case the value of the property transaction is above the sum of Rs. 50 lakhs, you will be issued a TDS certificate, which also you will be required to bring with you on this day.
5. Identity documents: Depending on the nature of the property transaction, there will be a list of property documents that you will have to carry to your registry appointment. Apart from that, you will also require to have on you some identification documents such as your PAN Card, Aadhaar Card, Voter ID or Driver’s License.
6. Bring a witness: It is mandated that each transacting party must bring at least one trustworthy witness along, and that this person must also carry with them the requisite identification documents listed above.
7. Account for delivery time: Bear in mind that it takes about 15 working days for the registration process to be successfully completed. Once it is completed, you can collect the registered documents from the office upon producing the receipt issued to you at the time of the registration.
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