After Bangalore, Hyderabad is the next big name in the field of IT. The latest IT hub of India, Hyderabad is gaining a lot of momentum as far as real estate is concerned. The Pearl City of India has turn up into a real estate hotbed. The city development has attracted lot of investors and more and more people are looking for properties in Hyderabad. Before investing in land or property, it is quite essential to register it with the authority concerned for lawful ownership. Like other cities, even this city follows a legal process for registration of properties. Registering any property through legal process saves you from falling into unlawful trap. So if you are planning to invest in real estate properties of Hyderabad, follow the process mentioned below so that you can be proud owner of your property.Required documents for property deal:Before you move on with the property registration process, you need to first visit the sub-registrar office and trace the property at the revenue office and registry. You have to take along with you the following documents:
- Patta / Legal document, issued in the name of the owner by the Revenue Department under the seal of Tahsildar
- Encumbrance Certificate (EC) verifying that the property does not have any legal dues pending
- In case of property transfer, check all the payment related papers are cleared like taxes, water bills, electric bills and other such payments
Sales Deed and Stamp Duty:Without Sales Deed, your property buying process is certainly incomplete. You require a final sales deed prepared by the lawyer. The sales deed is ready within 2 days. Similarly, payment of stamp duty as well as other such fees related to property is very essential.Stamp duty is currently calculated as follows:
- Locations that fall under Municipal Corporations – 9.5 % of property value = 7 % stamp duty + 2 % transfer fee + 0.5% registration fee
- Locations that fall under special and selection grade municipalities – 9.5 % of property value = 7% stamp duty + 2 % transfer fee + 0.5% registration fee
- Other locations – 9.5% of the property value = 6% stamp duty + 3% transfer fee + 0.5% registration fee
- After the stamp duty and registration fee is deposited, you are required to submit the legal documents in the sub-registrar office.
Copy of the documents to be submitted:Along with the above requirements, you also need to submit the documents mentioned:
- Certified true copies of the Certificate of Incorporation of buyer and seller
- Four passport size photos of the both authorized parties
- Identity proof (like voter ID, PAN Card, passport issued by government of India or autonomous bodies of both the parties as well as witnesses
- Power of Attorney of the person who is carrying out the Sales Deed
- Road map of the property concerned from the closest landmark
- Certified affidavits of both seller and buyer to confirm that the transaction in regards to the Urban Land Ceiling (ULC) Act
To scrutiny the documents, it should be submitted to the sub-registrar of Assurance. Once the deed is forwarded for registration, the possession of the property can be transformed to the potential buyer.займ на карту без отказов круглосуточновзять кредит онлайн