A Sale deed is one of the most valuable legal documents in the purchase or sale of property. It is governed by the provisions of Section 17 of the Indian Registration Act, 1908 and is an important document for the buyer/transferee as well as the seller/transferor.
The purchase or sale of property is not legally complete until a sale deed is signed both by the buyer and the seller. Usually a sale deed is signed only after both the parties are satisfied and agree to comply with the terms and conditions as mentioned in the sale agreement if earlier executed between them.
Important things to note with respect to Sale deed in Delhi.
1. Stamp Duty and transfer duty is payable @4% if the vendee is a woman and 6% if the vendee is a man, firm or company etc.
2. Registration fee is 1% of the total value of consideration in sale Deed plus Rs 100. For pasting charges payable through bank pay order.
3. The stamp duty payable on the sale deed should be as per circle rate fixed by the revenue department of Govt of N.C.T of delhi for the locality in which property is situated. If the sale consideration is more than the minimum circle rates fixed by the Govt., then the stamp duty will be calculated on the sale consideration amount mentioned in the sale deed.
4. Both the Vendor(s) and Vendee(s) have to be present along with their two passport size photographs and identification documents i.e. AADHAR card and PAN card.
5. Two witness alongwith identification documents need to be present during the presentation before the Sub- Registrar for the registration of the sale Deed.
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