How to  registered a Buy property ?

Step 1-Preparation

    • Complete Payment to seller as per Agreement to Sell.

    • No Dues Properly- Loan ,Taxes, Society Dues etc.

    • Property  can be transferred legally only by executing a Registered Deed and payment of stamp duly.

Step 2- Calculation of stamp Duty

    • Property Value=Maximum of Actual Value or Circle Rate.

    • Stamp Duty: 5-8% of Property Value.

    • Registration Charges-1% of Property Value.

    • Estimate S.D. online

    • Take professional help-Agent/Advocate/Document Writer.

Step 3- Payment of Stamp Duty

Method 1-Non Judicial stamp Paper

    • Purchase Stamp value from the authorized Stamp Vendor in your area.

    • Sale Deed is printed on these stamp papers.

Method 2-Franking( Bank)

    • Print Sale Deed on plain paper.

    • Pay stamp Duty at  Bank with Cash or Draft.

    • Bank attests the Sale Deed with the Stamp mentioning the paid stamp Duty value .

    • Make sure that the Bank has Franking Machine.

Method 3- E-stamping

    • Stock holding Corporation of India-Central Record Keeping Agency

    • Pay stamp duty at Authorized Collection Centers (ACCs)& scheduled Banks-RTGS,Draft or Cash.

 Step 4- Draft & Print Deed

    • Draft Sale Deed/ Conveyance Deed/ Gift Deed

    • Details of Buyer & Seller, Payment Details, Other Terms

    • Should not be a conditional Sale-Complete Ownership rights to be transferred.

    • Print the Deed on stamp Paper Buyer & Seller to sign on each page .2 Witnesses to sing on last page.

Step 5- Registration @ Sub-Registrar office

    • Take Appointment & Token No.(online)

    • Buyer ,Seller & @ 2 Witnesses to be present in person(PoA-GPA,SPA)of, 3 photos each.

    • All to carry Aadhar Card,ID proof ,3 photos each.

    • Signatures & Finger Prints taken in presence of Sub- Registrar.

Step 6- Collect Registered Sale Deed

    • Collect Token Slip after Signing Deed in Sub- Registrar Office.

    • Original Registered Deed can be collected in 15-20 days.

    • Bank will collect Original Registered Deed in case of loan.

Step 7- Mutation of Property

Rural Property/ Outside Municipal Limits

  • Change of Name in Land Records (RoR)

Urban Property

  • Change of  Name in Municipal Records (Property Tax)

Sale Deed

1-  Sale Price  –

2-   Advance (10%)   –  

3-  Agreement to sell (T&C of sale)  –  

4-  Payment+ Schedule    – 

5-  Sale Deed( Final Ownership Rights Seller  – Buyer.)

Establishes ownership right.
Conveys ownership from Seller to Buyer on paymert of consideration .
Right transferred

  • Right to Use
  • Right to Lease
  • Right to Mortgage
  • Right to Sell,
  • A form of Conveyance Deed (other forms –Gift/Will/Lease/Mortgage Deed)

Elements of Sale Deed

  • Details of Parties –Buyer& Seller (Name ,Age,Father’s Name, Address)
  • Schedule of Property – Location , Address, Description
  • Payment Details – Sale Price, Advance, Date & Mode of Payments
  • Handing over of Possession
  • No Encumbrances and Liens
  • Indemnity provisions for Parties

Precautions

  • Ensure Clear Title
  • No Encumbrances and Liens
  • Check for ambiguities in the Sale Deed (No Conditions)

Execution of Sale Deed

1 . Draft Sale Deed- Prepared By Legal expert

2 . Stamp Duty (5-8% of Property Value)

3 .  Signatures:-

 

  • Signed & executed Buyer and Seller ,including Thumb Prints
  • Two Witnesses

Registration

  • Registered at Sub – Registrar’s Office
  • Original Property documents presrnted by the seller
  • Power of Attorney, in case buyer not present
  • Sale Deed to be registered with 4 months from date of execution
  • Stamp Duty & Registration Charges borne by Buyer

 

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