According to Indian Registration Act- section 17, any transaction of immovable property amounting more than Rs. 100 is mandatory to be registered. This is a direct indication for registration of all the deals related to immovable property in India. Along with this, immovable property that is offered on gift deed or on a lease period exceeding a year, registration of all documents is mandatory. In case the party fails to reach the office of the sub registrar, the sub registrar is entitled to appoint any deputy officer for accepting documents for registration directly from the party’s house.
It is mandatory to get all the documents related to the purchase and sale of any immovable property in India registered so as to prevent fraudulent and restore the evidence of ownership. There are laws and procedure for registering a property in India.
Procedure of the Registration Process and Documents to be Submitted
Before proceeding further with the registration procedure and the documents required for transferring property ownership, you need to learn that immovable property refers to building and land. The documents for registration of the property needs to be submitted to the Sub Registrar under whose jurisdiction the property comes. Both the buyer and the seller along with their witnesses need to be present at the office at the time of property registration. These signatories further need to carry with them some ID proofs such as PAN card, Aadhar Card, Ration Card and others authorized by the Government. In case you are serving as a signatory for someone else, you need to provide the POA or Power of Authority documents.
Get the Stamp Duty Done Poperly
Along with your Id proofs and property documents, you also need to provide the sub-registrar the payment deed stamped duly by the court. The sub registrar will get the documents verified before getting them registered. However, if any deficit is found with stamp duty, the registration process can be refused by the registrar. Hence, it is essential to ensure that the paper work is done thoroughly before up approach the sub registrar for helping you out with the property registration process.
A Look into Time and Fees Consideration
The documents that are to be registered mandatorily needs to be presented to the sub-registrar within just 4 months from their execution along with the registration fees. In case you are unable to make the application for registration within this time limit, you need to explain the registrar in written the cause of such delay. The registrar will get the documents registered upon payment of fine on your part. This amount can be ten times that of the actual registration fees. In this context of registration, it is important to know that while earlier the documents of registration were returned to you after a time span of 6 months, now with digitalization, these documents are returned to you at very same day after getting them scanned.
Remember, any failure on your part in property registration process will bring about huge trouble in future.