Registering Your Property? Here’s A Guide
Home buying is a daunting process. Out of all the steps, property registration is probably the most complex one. Due to a number of legalities and paperwork, it is always advisable to take assistance from a good broker or a real estate agent.
Under the Registration Act, 1908, it is mandatory to register the sale deed. Post that, follow these handy tips that would help you complete your registration process hassle-free:
Keep all the documents ready that are required at the time of registration a day before.
Plan your day according to the schedule of the office of the Sub-Registration Magistrate which operates between 9.30 am and 6 pm on all working days.
Since all things are done digitally these days, stamp duty and registration charges are paid much before you actually appear in the sub-registrar’s office to register your property. Take a lawyer’s assistance to take care of this part of the transaction, too. It is only after paying stamp duty and registration charges that an appointment is taken for property registration.
Ensure you have all the right documents that are needed during the registration process along with your Aadhaar and PAN Card. You can also use your voter ID, driving licence or passport in place of Aadhaar.
In case the deal size was of over Rs 50 lakh, the buyer will have to submit a proof showing he has deducted one per cent as TDS from the property value. Do not forget to keep that paper with you.
Your witnesses are quite crucial for the process to take place. They have to be present with you through the entire process and must have a valid ID proof along with them.
It usually takes 15 days for your documents to get registered. Your documents will be handed back to you only after you produce the receipt that was issued to you at the time of registration. In case you have taken a home loan, the bank might send its representative to collect the document. You could also collect the papers and give it to the bank yourself.
With KPDL, we ensure your entire home buying process goes seamless and you get your dream home in no time. Take a look at our latest project, 24K Sereno, (The project has been registered via MahaRERA registration number P52100005080) one of the most desirable Residential apartment in Baner. It has premium 3 RLK apartments and a world of lifestyle amenities.