Under the Registration Act, 1908, it is mandatory to register the sale deed on a property. This is an important step that signals that the transaction has been completed and the buyer now owns the property. Here are eight things to take note of when going to register your property:
Prepare in Advance – Gather together all the documents required for registration. Make a list of what is required and ensure that you have all the documents. Once the registration process is completed, make sure that you collect all your documents before leaving the office.
Office Timings – The working hours of the sub-registrar’s office are between 9:30 a.m and 6 p.m. on all workdays. They do have a lunch break in between. Ensure you check the timings of the office as post the pandemic, some of these might have changed.
Payment – Enlist professional help to pay stamp duty and registration charges online before you go to the sub-registrar’s office. The appointment for registration can only be taken after these charges have been paid.
TDS – In case of deals exceeding Rs. 50 lakh, the buyer has to submit proof of payment of 1% as TDS. This is an important step to be completed before the registration of property. Do keep the document of payment as proof with you.
Witnesses – The witnesses in a property deal are vital to the process. Ensure that you have reliable and reputable witnesses to your registration. These should be people that are well known to you.
Delivery Time – Typically, it takes 15 days for the registration of documents. These will be handed back only on the production of the receipt. These may be picked up by you or a representative of your bank.
Everyone is Equal – There are no special privileges for women or senior citizens afforded at the sub-registrar’s office. Everyone is treated equally.
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