Procedure 1. Check for encumbrances at the office of Sub-Registrar of Assurance
Time to complete: 5 days
Cost to complete: Rs. 10,000
Name of Agency: Sub-Registrar of Assurance
Comment:
The purchaser should conduct a search of the property in the Registry and the Revenue Office, noting the location details of the property and the time period to be checked. While investigating the title it should be verified (1) that the legal ownership document is in the name of the owner, issued by the Revenue Record Department under the seal of the Tahsildar, (2) that on the date of purchase the title of the owner for the preceding 30 years (preferably) shows no mortgage or other encumbrance as still existing on the date of purchase, (3) the property is transferable and heritable, (4) the transferor is competent and/or authorized to transfer the property, (5) the transferee is qualified to be a transferee, (6) the object or consideration for the transfer is lawful, (7) the transfer has been made and completed in the manner prescribed by law, (
the property
being sold is free of restrictions for sale under the Urban Land
(Ceiling & Regulation) Act, 1976 and a Clearance Certificate for the property
has been issued by the U.L.C. (Urban Land Ceiling) Authorities. Also,
all papers with regard to payment of taxes, the electricity bills and
water bills need to be checked.
If the seller is a Company incorporated under the provisions of the Companies Act, 1956 then it is prudent to take search in the office of the Registrar of Companies to verify whether there is any charge on the property registered under the provisions of Section 125 of the Companies Act, 1956.
Procedure 2. Preparation of the final sale deed by the purchaser’s lawyer
Time to complete: 7 days
Cost to complete: INR 18,000 - INR 21,000
Name of Agency:
Comment:
The lawyer prepares the final sale deed and then engrosses the document on green paper leaving the date and place blank then this document is then submitted for stamping.
The fee for the lawyer is around 1% of the property value.
Procedure 3. Payment of Stamp Duty on the final Sale Deed through franking at the designated bank.
Time to complete: 1 day
Cost to complete: 5% of property value
Name of Agency: Bank
Comment:
Deposits the said fees in the designated bank. The designated bank issues a receipt and marks the first page of the printed sale deed with the stamp duty received. This printed sale deed with stamp duty details will then be executed.
Procedure 4. Execute final sale deed and submit documents to the local office of the Sub-Registrar of Assurances
Time to complete: 1 day
Cost to complete: 1% of market value of the property (Maximum INR 30,000) + INR 20 per page of final sale deed for scanning charges (paid in cash)
Name of Agency: Sub Registrar of Assurances
Comment:
The execution of the sale deed in front of the 2 witnesses is commonly done at the same time and place where the buyer submits documents to the Sub-Registrar.
The documents are submitted to the office of the Sub Registrar of Assurances within whose jurisdiction the property is located. The authorized signatories of the seller and purchaser are required to be present along with two witnesses. Once the document is registered, a distinct document number is assigned to that document. The record of registration is kept in the office of sub registrar of assurance.
The documents are submitted to the Reader of the Sub-Registrar of Assurances for scrutiny. After scrutiny, the Reader indicates the registration fee required, which is 1% of the transaction value or Rs. 30,000/- whichever is less on the document itself. The due registration fee is to be deposited with the cashier against a receipt. After depositing the fees, the documents are presented before the Sub-Registrar in accordance with Section 32 of the Registration Act, 1908. Normally, the Seller hands over the peaceful vacant and physical possession of the property to the buyer simultaneous to the deed being presented for registration. Upon payment of the required registration fees and computer service charges in cash, as per the receipt, the document is returned within 30 minutes of getting the receipt.
The documentation shall include:
1. Document required to be registered (in duplicate)
2. Two passport-size photographs of the authorized signatories of both parties.
3. Photo identification of each party and witnesses i.e. voters' identity card, passport, identity card issued by Govt. of India, Semi Govt. and Autonomous bodies or identification by a Gazette Officer.
4. Certified true copies of certificate of incorporation of both seller and purchaser.
5. Copy of the latest property register card (to be obtained from the City Survey Department) to indicate that the property does not belong to the government
6. Copy of the Municipal Tax bill to indicate the year in which the building was constructed
Procedure 5. Apply to the Land & Survey Office for mutation of the tile of the property
Time to complete: 30 days
Cost to complete: INR 300
Name of Agency: Land & Survey Office
Comment:
After receipt of the registered title deed, the purchaser applies to the Municipal Authority seeking mutation of the title of the property in its favour. The authorized signatory has to submit the duly signed application along with the affidavit, indemnity bond, and a certified/notarized copy of the registered title deed.
After the assessment of the request for mutation, the Land & Survey Office decides the value for levying tax on property and then issues a letter of mutation in favour of the purchaser. Cost includes: application fee is INR 100; indemnity bond on INR 100 stamp paper, obtain an affidavit at INR 50 and notarize the sale deed for INR 50.
Time to complete: 5 days
Cost to complete: Rs. 10,000
Name of Agency: Sub-Registrar of Assurance
Comment:
The purchaser should conduct a search of the property in the Registry and the Revenue Office, noting the location details of the property and the time period to be checked. While investigating the title it should be verified (1) that the legal ownership document is in the name of the owner, issued by the Revenue Record Department under the seal of the Tahsildar, (2) that on the date of purchase the title of the owner for the preceding 30 years (preferably) shows no mortgage or other encumbrance as still existing on the date of purchase, (3) the property is transferable and heritable, (4) the transferor is competent and/or authorized to transfer the property, (5) the transferee is qualified to be a transferee, (6) the object or consideration for the transfer is lawful, (7) the transfer has been made and completed in the manner prescribed by law, (
the property
being sold is free of restrictions for sale under the Urban Land
(Ceiling & Regulation) Act, 1976 and a Clearance Certificate for the property
has been issued by the U.L.C. (Urban Land Ceiling) Authorities. Also,
all papers with regard to payment of taxes, the electricity bills and
water bills need to be checked.If the seller is a Company incorporated under the provisions of the Companies Act, 1956 then it is prudent to take search in the office of the Registrar of Companies to verify whether there is any charge on the property registered under the provisions of Section 125 of the Companies Act, 1956.
Procedure 2. Preparation of the final sale deed by the purchaser’s lawyer
Time to complete: 7 days
Cost to complete: INR 18,000 - INR 21,000
Name of Agency:
Comment:
The lawyer prepares the final sale deed and then engrosses the document on green paper leaving the date and place blank then this document is then submitted for stamping.
The fee for the lawyer is around 1% of the property value.
Procedure 3. Payment of Stamp Duty on the final Sale Deed through franking at the designated bank.
Time to complete: 1 day
Cost to complete: 5% of property value
Name of Agency: Bank
Comment:
Deposits the said fees in the designated bank. The designated bank issues a receipt and marks the first page of the printed sale deed with the stamp duty received. This printed sale deed with stamp duty details will then be executed.
Procedure 4. Execute final sale deed and submit documents to the local office of the Sub-Registrar of Assurances
Time to complete: 1 day
Cost to complete: 1% of market value of the property (Maximum INR 30,000) + INR 20 per page of final sale deed for scanning charges (paid in cash)
Name of Agency: Sub Registrar of Assurances
Comment:
The execution of the sale deed in front of the 2 witnesses is commonly done at the same time and place where the buyer submits documents to the Sub-Registrar.
The documents are submitted to the office of the Sub Registrar of Assurances within whose jurisdiction the property is located. The authorized signatories of the seller and purchaser are required to be present along with two witnesses. Once the document is registered, a distinct document number is assigned to that document. The record of registration is kept in the office of sub registrar of assurance.
The documents are submitted to the Reader of the Sub-Registrar of Assurances for scrutiny. After scrutiny, the Reader indicates the registration fee required, which is 1% of the transaction value or Rs. 30,000/- whichever is less on the document itself. The due registration fee is to be deposited with the cashier against a receipt. After depositing the fees, the documents are presented before the Sub-Registrar in accordance with Section 32 of the Registration Act, 1908. Normally, the Seller hands over the peaceful vacant and physical possession of the property to the buyer simultaneous to the deed being presented for registration. Upon payment of the required registration fees and computer service charges in cash, as per the receipt, the document is returned within 30 minutes of getting the receipt.
The documentation shall include:
1. Document required to be registered (in duplicate)
2. Two passport-size photographs of the authorized signatories of both parties.
3. Photo identification of each party and witnesses i.e. voters' identity card, passport, identity card issued by Govt. of India, Semi Govt. and Autonomous bodies or identification by a Gazette Officer.
4. Certified true copies of certificate of incorporation of both seller and purchaser.
5. Copy of the latest property register card (to be obtained from the City Survey Department) to indicate that the property does not belong to the government
6. Copy of the Municipal Tax bill to indicate the year in which the building was constructed
Procedure 5. Apply to the Land & Survey Office for mutation of the tile of the property
Time to complete: 30 days
Cost to complete: INR 300
Name of Agency: Land & Survey Office
Comment:
After receipt of the registered title deed, the purchaser applies to the Municipal Authority seeking mutation of the title of the property in its favour. The authorized signatory has to submit the duly signed application along with the affidavit, indemnity bond, and a certified/notarized copy of the registered title deed.
After the assessment of the request for mutation, the Land & Survey Office decides the value for levying tax on property and then issues a letter of mutation in favour of the purchaser. Cost includes: application fee is INR 100; indemnity bond on INR 100 stamp paper, obtain an affidavit at INR 50 and notarize the sale deed for INR 50.
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