If you own immovable property, then you must know that it holds the potential to generate remarkable income. The Indian Registration Act, 1908 contains the law of registration of documents. Ideally, the rules under Property Registration Delhi affect a plethora of obligations on buyers and sellers to pay taxes when it comes to entering into property transaction arrangements. All transactions which involve the sale of immovable property for a value more than Rs.100 must be registered under Section 17 of the Registration Act, 1908.
Things we covered for you
+
Is Property Registration in Delhi Mandatory?
Yes. In simple terms, it effectively means that all the transactions pertaining to sale of the immovable property need to be registered, as no immovable property can be bought for just Rs 100. Furthermore, all the transactions under the gift of an immovable property beside a lease for a timeframe of more than 12 months have to be registered.
In some cases, if a person cannot visit the sub-registrar’s office, the sub-registrar may order any of its experts to accept the documents for registration at their house of the individual. Hence, immovable property is all about land, buildings, and any rights attached to these properties.
The Workings of Property Registry in Delhi
Some of the properties which require mandatory registration include- instruments of the gift of immovable property, non-testamentary instruments or transactions that have the sale of immovable property for a value more than Rs.100, lease of immovable property from one year to another year, and contracts to transfer immovable property for purposes as per in the Section 53A of the Transfer of Property Act, 1882.
Read: Transfer of Property Act: Meaning, Types and Laws
Book Best Packers & Movers with Best Price, Free Cancellation, Dedicated Move Manager
This is third
This is third
This is fourth
This is fourth
This is fifth
This is fifth
This is six
This is six
This is seven
This is seven
This is eight
This is eight
Documents for which registration is not mandatory include Agreement of mortgage, Promissory note, Instrument of partition by the officer, Grant of immovable property by the guidelines of the government, Will and lease of immovable property not more than 12 months. The documents that need to be registered have to be submitted to the office of the Sub-Registrar of Assurances, amid whose jurisdiction the property aligns with the subject matter of transfer. The signatories must carry their proof of identity, including an Aadhaar Card, PAN Card, or any other evidence of identity issued by a government authority.
If they are representing someone else, then signatories also have to furnish the power of authority. Hence they also need to adhere to the registry charges in Delhi. Suppose a company is a party to the agreement. In that case, you need to carry adequate documents, including the power of attorney/letter of authority, besides the copy of the resolution of the company’s board authorizing you to carry out the registration. Besides the original documents and proof of payment of stamp duty, you need to present the property card to the sub-registrar. The sub-registrar will verify if adequate stamp duty has been paid or not for the property, as per the stamp duty ready reckoner, before registering. Read more about stamp duty from here.
Essentials to Know About Land Registration in Delhi
1. Documentation
You need to have several documents for registration. Besides the identification papers, IT returns reports, bank documents, and other financial documents; you need to have several different forms to complete the registration:
- A no-objection certificate, also known as NOC from the society, claims that it doesn’t have any objection to the sale or lease or transfer or gift of the property.
- A letter from society featuring all the essential building details, including the number of floors, year of construction, built-up space, etc.
- Xerox of the recent municipality assessment bill.
- Property card copy.
- The process will also require stamped and registered transfer deeds if the property isn’t purchased by the developer directly instead as a secondary registration.
2. Registrar and Registration Fee
To complete the process, you need to pay property registration charges in Delhi. Still, the process starts with making an appointment with the Sub-Registrar of Assurances. At the same time, you have to arrange the number of fees, which accounts for 2-3 percent of the market value of the property. You need to pay the fees before the registration of the property. Then you need to submit the payment order or the demand draft for the amount you need to pay as a registration fee once you are allotted the token number.
Read: The Impact of Right of First Refusal (ROFR) in Real Estate
3. Adjunction
After you pay the property registration charges in Delhi 2021, then the process of determining the market value of land and property starts. This value helps you in selecting the stamp duty that has to be paid for the property. In the case of old properties, adjunction plays a crucial role because the registrar office is not likely to have all the updated details of the depreciation of an ancient property. The validity of the adjunction is around six months, but it should be done within a month if the document is signed. Additionally, delay leads to unnecessary interest charges.
4. Witness
Even if you choose to go for online property registration in Delhi, one thing you must know is that your witnesses play a crucial role in the process. They need to be present in the entire process and carry a valid ID proof along with them. Ideally, witnesses should be the people whom you know well. You need to bring at least two witnesses for the procedure, and they need to sign in the presence of the registrar. The id proofs can include a driving licence or a voter’s ID and passport. You shouldn’t consider their roles only as academic under any circumstances.
Read: Complete Guide to VVMC Property Tax
5. Formalities
The document is returned for you for registration with all the Delhi property registration details after all the formalities and details are done. You can either collect it yourself or give some the authority to collect it on your behalf. The documents are most likely to be managed by your bank if you have taken a home loan, or you can collect and give them to your bank. The registration takes around 15 days, and you will get the document only if you provide the receipt that was issued during registration.
Things to Know About Online Property Registration in Delhi
In the majority of the Indian states, the buyer can complete a considerable part of the property registration process online. You can avail of the online services to part-finish the registration process depending on the state where you live. But you need to appear at the sub-registrar’s office, along with the seller and two witnesses, for the final step to complete the transaction. It would be best if you revisited this office to collect your registered property documents once the registration is complete with the online registry of property in Delhi.
Read: Property Mutation: A Vital Step in Property Ownership
No doubt, the majority of the states allow one to carry out a large part of the property registration process online. Still, one needs to visit the sub-registrar’s office for the final process to complete the property plot registration in Delhi. Hence you can’t wish to complete the entire process online, but at the same time, you can use online channels to pay the stamp duty, provide all the details and book an appointment at the sub-registrar’s office.
The owner has the risk of losing the property as unregistered properties hold no legal validity. Additionally, the owner would not be able to claim thecompensation that is typically offered to land/property owners if the government were to acquire this property at any point. Above all, it is mandatory to register the sale deed under the provisions of the Registration Act, 1908.
As paperwork is so critical, get the assistance you need so that you can avoid any issue that might arise. With NoBroker Legal assistance you get end-to-end assistance with your property purchase. You get experts to help you with your property title check, sale agreement/deed drafting, registration and more! Click the link below to see how we can help.
FAQ’s
What are the documents required for property registration?
Aadhaar Card, PAN Card, or some other proof of identity that is issued by a government authority is some of the accepted documents for this purpose. If you are representing someone else, then the signatories also have to furnish the power of control.
What are the privileges given to citizens for property registration?
In the sub- registrar’s office, all the citizens are treated equally. Hence, there are no separate privileges for women or senior citizens.
What happens if you fail to register the property?
You are putting a considerable risk if you fail to register the purchase agreement of a property. In any court of law, a mandatory document required to be registered but is not registered cannot be admitted.
What is the time limit for House registration in Delhi?
Along with the requisite fees, the documents which need to be registered have to be presented for registration within four months of its execution.
What is the procedure for registering the property?
You need to submit the documents which need to be registered at the office of the Sub-Registrar of Assurances. It should be within the jurisdiction of the property. Along with two witnesses, the authorised signatories for the seller and the purchaser have to be present for the registration of documents.
Very great post. I simply stumbled upon your weblog
and wanted to mention that I have truly loved browsing
your blog posts. In any case I will be subscribing for your rss feed
and I’m hoping you write again very soon!