Registration means the recording of a duly executed document in the Registrar Office with the Registering Officer & preserving of copies of the original document. Some documents are to be compulsorily registered to ensure conservation of evidence, assurance of title, publicity of documents & prevention of fraud. Every document, which is to be registered, should be presented at the proper registration office by the concerned person himself/herself, or the representative or the agent of such a person duly authorized along with witness and appropriate registration fee. The payment of proper Stamp duty on instruments confers legality to them. Such instruments get evidentiary value & are admissible in the Court as an evidence.
Property Registration in New Delhi
Property Registration in Delhi ensures the ownership rights to the person in whose name the property is registered. The entire process of land registry or property registry can be quite a nuisance if you do not have a real estate attorney briefing you about the legal formalities and documentation procedures to be followed. Fortunately, we are always there to guide you and take care of the entire procedure of property registration.
All kinds of property registration and firm registration in Delhi are done at the Sub Registrar offices which hold complete records of all previously registered property in Delhi.
Property Registration Procedure
The Procedure for Property Registration is as follows :
Property Due Diligence
The property location, legal ownership document, date of purchase of the title, property transfer and inheritance issues, clearance certificate from urban land ceiling authorities, payment of all dues like property taxes, electricity and water bills and any previous alterations in the property registration are the main points to take care of. Services of an advocate will be helpful in this.
Preparation of Agreement to Sell for the Property
It is always recommended to get a legally enforceable agreement drafted by an advocate which should be made on stamp papers with some advance payment to the Vendor and a specific time period finalized for the registration.
Preparation of Property Sale Deed
The Sale Deed is prepared by a property registration attorney on behalf of the buyer. The final deed is printed out on legal papers along with the stamp duty certificate attached to it. This requires payment of a registration fee of 1% of the property value and might take 7-10 days again.
The house registry or the property registry is then stamped, executed, and finally registered in the presence of seller, buyer and two witnesses at the office of the Sub Registrar with appropriate stamp duty determined according to the circle rate and the market value of the property.
Presentation Before the Sub-Registrar
The completed property registry is then submitted to the Reader of the Sub Registrar for scrutiny. After the payment of 1% of the transaction value, the documents are presented before the Sub Registrar. The seller then hands over the possession of the property in question to the buyer. The documents are handed over to the buyer within 30 minutes of submission of the payment receipt.
Mutation of the Title of the Property
The purchaser now has to apply to the local Municipal Authority to get the title of the concerned property mutated in his name with all the relevant documents that we would guide you about. The Municipal Authority then assigns the property value for levying property tax and then issue a letter of mutation in favour of the purchaser.
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