In India, if you buy any property that costs more than 100 rupees, you have to get that property registered, and not doing so is a punishable crime. Whenever the sale or purchase of any immovable property is made, registration for that property is required. Online Land Registration in India is governed by Section 17 of the registration Act 1908.
Laws Applicable To Property Registration
The Indian Government has enforced two laws on property registration, and both laws should be strictly followed by every citizen of India who is buying or selling property.
Following are the two applicable laws:
- Registration Act, 1908: Under section 17 of the Registration Act, 1908, it is compulsory for all Indian citizens that immovable property that costs more than Rs 100 should be registered in government records, and not doing so is a punishable crime.
- Indian Stamp Act, 1889: Every person must pay stamp duty on documents of the property that is to be registered.
New Rules For Registering A Property In India
A new set of rules have been implemented from 2020 for the Property registration by the Indian government. All these rules should be strictly followed by everyone while registering a property. Following are the new set of rules that you should follow:
- Now you will not have to wait for long as copies of all the documents will be available on the same day due to technological advancements and everything getting computerised.
- A non-registered property that is acquired by the government cannot demand compensation under Income Tax 80C.
- A property that is not registered has no legal validity, and it stands as not valid evidence in court.
These are some of the new rules and regulations that are implemented and have to be strictly followed by everyone.
Documents Required For Property Registration
Submitting all the necessary documents is one of the essential steps during the registration of a property. You should register all the required documents within four months from the date of execution, and in failing to do so, you will have to face some penalties.
The registration of documents for a property will take 2-3 days for metro cities and up to 7 days for rural areas. Following are the documents you should keep ready to save yourself from any type of delay in submitting the documents.
- Passport-size photographs of buyer and seller
- Identity proof of both the parties- Aadhar card Document, Pan Card
- Power of attorney
- The latest property registers card copy
- A copy of the municipal tax bill
- Property Registers card copy
- Construction completion certificate
- NOC (No Objection Certificate)
- Payment receipt of Stamp duty and registration fee
- Verified Sale deed copy
What Is the Property Registration Process?
Following are the steps that you have to follow to register your property:
- Firstly, estimate the property value based on the circle rate in that area.
- Once you are done estimating that property’s value, you must purchase a nonjudicial stamp paper from a licensed stamp vendor, or you can buy it online also.
- Then a deed must be signed on the stamp paper based on the transaction’s nature.
- After this, to get that deed registered, the buyer and seller must visit the subregistrar’s office and two witnesses. Don’t forget to carry the photographs, identity proof, and all the necessary documents mentioned above.
- Then, you must pay the registration fee before the registration of that purport. Remember, the registration fee might vary from state to state, so gather all the details about the registration fee from the registrar’s office very carefully.
- Then all the documents you submit will be verified, and you will receive a receipt after the deed is registered. Visit the office of the registrar after two to seven days to collect the sale deed. The registration of documents for a property will take 2-3 days for metro cities and up to 7 days for rural areas.
Now that the technology is getting increasingly advanced, the government has provided facility to get your property registered online. However, this facility is only available in a few states. But it is spreading quickly and will soon be available in the entire country. You can pay the stamp duty and registration fee online and will receive a payment receipt for it on the website. You can make payments using Net banking, a debit card, or a credit card.
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