An individual pays an enormous amount of money to buy a property. Therefore, it is essential that he should thoroughly familiarize himself with the legal steps that he has to undertake to register a property in his name.
Here we will give you a complete list of things you have to do that will make your experience in registering a property in your name as smooth as possible.
The first thing that you should do before you go in for the registration of the property in your name is to search the details of the past registrations of the property (there are no fees for this searching of the past history of a property). You can make the online search yourself through the Delhi government website.
You have to understand that registration of property is done for different kinds of deeds like:
- Sale Deed
- Conveyance Deed
- Gift Deeds
- The Will
We will now give you a step wise procedure that you have to follow when you are registering through any of these above-mentioned methods.
1). Sales Deed: If you are interested in buying a flat in any residential projects in New Delhi, then you can register the sale deed in the sub-registrar office.
There are cases where the entire process of registration of the sale deed process is taken care of by the real estate developer in Delhi through whom you are buying a property. However, you still need to go to the sub-registrar office to sign the legal documents that will transfer the property to your name.
However, if you are buying an independent property, then the first thing that you need to do is get the complete record of the previously registered property. In the process of registering the property in your name, you have to give a stamp duty which will depend on the area where you are buying the property and your gender. If you are a male then you have to pay 6 percent of the total cost of the property. And if you are a woman then you have to pay only 4 percent of the total value of the property. The stamp duty also varies for different circles of the city and you have to find out what rate is applicable to the area where the property you wish to buy is located.
The registration fees of the sale deed are around one percent of the total value of the transaction of the property. Additionally, you also have to pay Rs. 100 as posting fees. During the registration process, you also have to submit the photocopy of some documents that will prove your identity like the driver’s license, PAN card, EPIC Card, Passport, Aadhaar Card or any government issues identity card.
You need to get a no objection certificate from the Tehsildar office of the subdivision of the district to prove that the property in question is not under any acquisition process.
In case the property is on a lease from any government department like the M.C.D, DDA, L&DO, Industry Department, Labor Department and others, you will require a permit from the relevant lessor to register your property in your name.
If the transaction exceeds Rs. 5,00,000, then you need an Income Tax clearance certificate.
On getting all these documents, your next step will be to purchase the e stamp paper of the correct value of the property as per the circle rate applicable from the nearest Stock Holding Corporation of India Center (SHCIL) or their authorized collection centers. To know more about the addresses of from where you can purchase e stamp duty you can visit the website.
You have to make an appointment with the sub-registrar for the purpose of registering your documents. This you can do by either going to the office and making the appointment online.
On the day of the appointment, you have to visit the office of the sub-registrar along with the appointment slip (if you have visited their office to seek appointment) or the mobile SMS that is sent to your phone if you had made the appointment through the online process.
After the sub-registrar finds everything okay with the document submitted by you, then you need to submit your biometric identification in the form of your fingerprints and photographs. After this process is over, you need to collect your receipt.
You will get your registered deed at the delivery counter between 3pm to 5pm.
2). Conveyance deed: If you want to convert a leasehold property into freehold property, then you will need a Conveyance deed and register it at the sub-registrar office. The stamp duty applied on registering the Conveyance deed is the same that you have to pay as in the case of the sales deed (6% for men, 4% for women and 1% of registration fees).
3). Gift deed: If somebody has gifted you a flat in any of the residential projects in New Delhi (lucky you!), then you need to register the property in your name.
The first part of the process is to get the property has to be valued by an approved valuer. After the value of the property is determined then you have to register the property by paying the stamp duty and registration fees (same rate applicable as the one which an individual has to pay on registering a sales deed).
4). The will: If you want to register a will then you do not have to pay any stamp duty. However, you need to pay Rs. 600 to register the property in your name and has to take two witnesses who will sign the deed in the presence of the registrar.
These are the complete process that you have to follow to registrar different kind of deeds. It is very simple but in case you are still a bit hesitant, then you can take the services of an expert and legalize your procession.