Registering a property is an integral part of any property deal, property registration happens naturally hence the ‘un-registering’ audience is very small. Property registration enables you to possess all land rights in your name without any legal complications. Registered document of the property on a person’s name provides all the legal and communal land/property rights to him/her. The property registration process is almost same in all parts of the country, but few provisions vary according to the locality or states.What is property registration? Property registration refers to the registration of property documents in the registrar’s office with relevant property details. Any document changes in ownership and transactions of the property are needed to be registered with the Registrar’s office. The registration of property document with concerned authority guarantees you the legal ownership of the property. The property registration is mandatory under the provisions defined in the registration act of 1908. Registration of property documents gives you the ownership rights for the same property. The registration of property helps revenue department to impose property taxes on the property owners. Property registration allows property owners to further confer permissions for any kind of property transactions and helps to resolve various property disputes. Property registration process in HyderabadHyderabad is a growing real estate hub and will continue to grow even after the Telangana split which will boost the real estate market of Hyderabad. Properties in Hyderabad have to be registered with the municipal corporation of Hyderabad at registrar’s office. The municipal corporation uses collected property registration fees for the development of infrastructure and welfare of people.What is Patta?Patta is one of the pre-requisites of property deal and property registration process. Patta is a legal document issued by the revenue department in the property owner’s name under the seal of the Tahsildar. The document which ensures that the land belongs to the person who has registered the documents of land ownership is known as Patta. The Patta also confirms that the land does not belong to the government or any other person. Patta can work as an evidence to prove the ownership of land in cases of conflicts with the government or any third person. Even the government will have to offer compensation for the acquiring land from the owner having Patta. Patta can act as the main ownership determinant of the property. For Property registration process, Patta is a very important document which used in the procedure.What is Encumbrance Certificate?The encumbrance certificate testifies that property under the transaction does not possess any legal dues or fines. The certificate ensures that the property is legally ideal to transfer, sell or buy with all possibilities. The certificate ensures that the under the purview of legal formalities, the property is transferable of inheritable. While buying a property, buyer should ensure that the property does not have any pending bills or debt from the previous owners. One should check all the papers regarding payment of taxes, electricity bill and water bills etc.What is the procedure of property registration in Hyderabad? The property registration process in Hyderabad has various provisions are procedural steps. Each and every step of the procedure has a very important part in the whole process of the property registration. One should follow all steps involved in the property registration for better transparency in the registration process.Check for encumbrance certificateBefore buying any property buyer has to conduct a research to make sure that the property doesn’t have any bad history associated with it. Buyer can search for the property details in the registry and revenue office. Encumbrance certificate from the revenue department will enable you to know the up to date history of the property from Property tax details to electricity and eater bills etc. All the record are available in the Sub-registrar’s office in computerized form and almost all the records are public documents. Anybody who wants to search the records must apply to the registrar and then the registrar will issue the non-encumbrance certificate.Prepare final seal deedIt is not a mandatory procedure to create a final sale deed for the property but preparing one will help you for your personal purposes.Stamp Duty and registration feesThe Stamp duty is assessed on the documents which need to be registered and the stamp duty value differs for every document depending on the property value. The present stamp duty rates for property registration are as followsMunicipal Corporation:Property registration rate 9.5 per cent of the property value which includes 7 per cent for stamp duty, 2 per cent for transfer fees and 0.5 per cent for registration feeOther Places:Property registration rate is 9.5 per cent of the property value which includes 6 per cent for stamp duty, 3 per cent for transfer fees and 0.5 per cent for the registration fee.Final presentation at Sub registrar’s officeAt the time of the final presentation of property details, in front of the registrar buyer and seller must be present on the given date along with all the significant documents and two witnesses at the office. The stamp duty and registration fees must be submitted to the concerned bank against a receipt of the payment. After submitting the amount, the receipt must be presented to the Sub-registrar by the parties according to the section 32 of the registration act, 1908. Once the proper procedure is completed the document will be registered in the registry of the revenue department and it will be returned immediately back to the buyer.What documents are required in the process?After submitting the stamp duty and registration fee, following documents are to be deposited in the sub-registrar’s office which registering the property document.
- Four passport sized photographs from both parties;
- Photo identification of the buyer and seller along with the witnesses;
- Power of attorney in favor of the person executing the sale deed;
- Concerned Property photograph;
- Approach route map to the property from the nearest registered landmark or main road;
- Affidavit from both parties stating that the transaction follows the terms of the urban Land Ceiling (ULC) act;
- Latest receipt of payment of Municipal Authorities.
The applicant must stay informed about the changes in the stamp duty and registration charges which will differ from one jurisdiction to another.займ на карту без отказов круглосуточновзять кредит онлайн