In India, registering one’s newly purchased property is a one chore that all buyers are under legal obligation to fulfil. This means that as part of purchasing an immovable asset, which may be in the form of land or house, one is required to pay a certain portion of the value of property as stamp duty to the state government, after which 1 percent registration charges are levied. The main objective behind this process is to register the property in the buyer’s name in official government records, thereby making them the certified owner of that said property. An original copy of the registration certificate is kept in the records of the registrar’s office and acts as an evidence in case of any disputes in future.
In our country, all transactions involving the sale of an immovable property of a value more than Rs 100, should be registered according to the clauses in Section 17 of the Registration Act, 1908, which means that all transactions have to be registered with the office of the registrar of that area. In India, with an aim of facilitating the buyers, many state governments have launched e-services for online property registration. One can do this by logging online and filling up details about the property, and can also pay the stamp duty and registration charges online. At the time of online flat registration and online plot registration one is required to submit a list of documents along with the online form.
However, one needs to know that only one part of the online property registration, like calculating the stamp duty and payment of the fees and can be done online. Here, we have made a list of the points for a smooth online registration process that you must be aware of:
1: After logging online, you make an estimate of the value of your property, depending on the circle rates applicable in your area.
2: You compare the circle rate with the price paid. For calculating the stamp duty, the rate that’s higher of the two values would be applicable.
3: Purchase non-judicial stamp papers of the calculated value.
4: Stamp papers can be purchased either in person or online. When purchasing in person, you can buy these papers from licensed stamp vendors. E-stamps can be purchased online.
5: Get the property deed ready and typed on the stamp paper. The subject matter would differ on the basis of the nature of transaction: sale, lease, mortgage, power of attorney, etc.
6: All the parties will visit the sub-registrar's office for registering the document, along with two witnesses. Each witness should carry their photographs and identity documents,
7: After registering the sale deed, one gets a receipt. Between two and seven working days, one can approach the sub-registrar's office to collect the sale document.
8: Once completed, you can get the sale deed verified.
At this point, we would like to point out that property registration should be done under the guidance of a lawyer. One should avoid seeking third-party assistance to complete the process.
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