PROPERTY REGISTRATION IN DELHI

PROPERTY REGISTRATION IN DELHI

PROPERTY REGISTRATION IN DELHI

If you have decided to purchase an immovable property worth more than Rs.100, then it is mandatory to get the property registered in your title. According to Section 17 of the Registration Act 1908, every purchase of immovable property worth more than Rs.100 has to be registered mandatorily. As well as the transfer of immovable property as gift and property leased out for more than 12 months also has to be registered. The registration document shall contain the conditions for sale and other related details. And the document has to be duly stamped.

ADVANTAGES

 

Avoid fraud: - the registration allows the authorities to keep a check on the fraudulent transaction of properties.

Creates evidence: - the registration document act has evidence that would prove the title of the document before any court of law.

Establishes title: - the title of the property will be established accurately.

Easy taxation: - the amount cost involved in the transfer of property can be accurately determined which allows the process of taxing much easier.

DOCUMENTS REQUIRED IN DELHI

 

·         The property document that needs to be registered (duly stamped).

·         Duly signed (by the claimant) sale deed, PAN CARD/NUMBER.

·         The ID card of executants and claimants (for all deeds) (passport, PAN card, Aadhar Card, Driver’s License or Voters ID).

·         Two passport size photos of buyer and seller along with two witnesses.

·         No objection Certificate required under section 8 of Delhi Land (Restriction and Transfer) Act, 1972 by Tehsildar of sub Division of the District to the effect (The property is not under acquisition).

 

Income Tax Clearance Certificate is required under section 230 of the Income Tax Act, by concerned Income Tax officer whereas, the transaction exceeds Rs.5,00,000/

 

PROCEDURE

 

·         The property document which is duly stamped must be submitted before the Registrar of assurance within the jurisdiction where the property for the transaction is situated.

·         The authorized signatories of both seller and buyer must be present before the registrar with witnesses.

·         Both the executants and the witnesses have to present their ID cards along with the property document which is a passport, PAN card, Aadhar Card, Driver’s License or Voters ID.

·         Signatories must submit Power of Attorney if they are representing someone else.

·         Property-card along with proof of payment of stamp duty has to be submitted.

·         The registrar will verify the documents and see if the stamp duty paid is sufficient.

·         In case of a deficit in stamp duty, the registrar will refuse to register the property.

 

 

For more information on this visit www.taxaj.com

Posted by Pooja

Team Taxaj

 


    • Related Articles

    • APEDA Registration – Process, Documents Required, Advantages

      APEDA Registration – Process, Documents Required, Advantages The Agricultural & Processed Food Products Export Development Authority, or commonly known APEDA, was established in 1985 as per the prescriptions mentioned in the Agricultural and ...
    • RCMC - Meaning and Registration Process

      RCMC - Meaning and Registration Process   A Registration Cum Membership Certificate (RCMC) is a certificate issued by the Federation of Indian Export Organizations (FIEO) and/or one of the various Export Promotion Council (EPC) or Commodity Boards – ...
    • Eating House License - Registration process

      Eating House License The food industry is the fastest growing industry in the country. Preference and lifestyle of people are changing. Setting up an eating house is a great idea but before setting up an Eating House one must research thoroughly ...
    • RNI Registration

      RNI is an abbreviation for Office of Registrar of Newspapers of India. This authority was brought out in 1956 to oversee the compliance requirements for publication of newspapers in India. The Press Commission of India brought out this authority by ...
    • Shop And Establishment Registration - Process, Documents required and Benefits

      The Shop and Establishment Act in India was implemented to govern the rights and working conditions of workers that are employed in the unorganized sector. The act requires all commercial establishments like theaters, eateries, hotels, amusement ...