After the stamp duty and registration costs are paid, the property is registered in the name of the new owner.
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New Delhi: Buying a dream home is everyone’s aspiration in life. Starting from the paper work to planning, the whole process of buying a home in India is lengthy and involves several procedures that may vary from state to state. After choosing a residential property, the next step is to get it registered in your name. Even if the buyer has paid the total amount, the ownership of the new house will not be considered legal unless the property is registered.
As per Section 17 of the Registration Act, registration of a home in India is mandatory until and unless the worth is less than Rs 100. After the stamp duty and registration costs are paid, the property is registered in the name of the new owner.
The registration process for home buying is a complicated procedure with potential long-term effects if not done rightly. Hence, the home buyers must exercise caution when registering any property. They need to verify that the previous owner has cleared all of his dues by checking the documentation pertaining to when and how the property is transferred from one owner to another. The encumbrance certificate also needs to be verified for any pending lawsuits or mortgages.
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List Of Documents Needed For Property Registration
- Passport-size photographs of buyer and seller
- Identity proof of both the parties- Aadhar card, Pan Card
- Construction completion certificate
- Payment receipt of Stamp duty and registration fee
- Latest property registers card copy
- A copy of the municipal tax bill
- NOC (No Objection Certificate)
- Power of attorney
- Property Registers card copy
- Verified Sale deed copy
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These documents must be registered within four months of the sale deed execution and the home buyers need to submit an application to a sub-registrar with a justification for the delay in case the submission window has been breached and pay a penalty for the same.
