HOW TO REGISTER YOUR PROPERTY/LAND

Introduction 

Land or property registration refers to the registration of the document, change in ownership and other transactions involving immovable property. Whenever you purchase an immovable property or a residential land/plot, it is imperative to get it registered with the concerned authority to ensure legal ownership and a title is guaranteed. This helps to reduce the risks related to frauds and assists in solving disputes with ease, in addition to the creation and maintenance of an up-to-date public record.

Procedure for Registration of Property/Land

According to Section 17 of the Registration Act, 1908, all transactions that involve the sale of immovable property for a value exceeding Rs 100, should be registered. This effectively means that all the transactions of sale of immovable property have to be registered, as no immovable property can be purchased for merely Rs 100.

Land registry in India is something that is handled by the individual authority of each State. In India, each State has its respective land and property registration authority. Each authority set certain rules and regulations about the form and charges that are required for registering land. The rate or registering fees can be different in different states. However, more or less, the entire process of land registry is the same across the nation.

Followings are the various steps to register a property 

I.  Verification of the Title of the Property

The first step that an individual needs to follow is to go to the office of Sub-Registrar. The main purposes of a visit are to search for documents that connect to the property purchased. One must check the details of the location of land & property. The documentation of the property varies based on whether the property has been bought from a developer or is it bought from a secondary sale. The obligation for the verification of the property, title, however, lies on the buyer before registration. The cost of this process may go up to INR 10,000 and can take about five days to go through this stage.

II.   Estimation of the Value of the Property

 In the second stage, the value of the property needs to be estimated so that the stamp duty can be levied upon it. The stamp duty is calculated on a price which is higher than the actual price paid by the buyer, or it is calculated as per the circle rate of the area.

III.   Preparation of Stamp Paper 

One now requires to buy non-judicial stamp papers equivalent to the value of the stamp duty or one can buy stamp paper lesser in value of the stamp duty, and the rest of the stamp duty can be deposited in the bank. Stamp papers can be purchased online(e-stamp paper) or from a licensed stamp vendor.

IV.    To Get the Sale Deed Ready 

This step requires the sale deed to be typed on the stamp papers. An attorney generally does this on behalf of the buyer. The subject on the deed varies as per the nature of the transaction, from the lease, sale to the power of attorney, mortgage etc.

V.     Payment of Charges 

After the sale deed is ready, the fee for Stamp Duty on the final Sale Deed is made through the collector of stamps. The amount of money is required to get deposited at a bank. The registration charges are also needed to be paid before the registration of the property. The entire process can take one day to complete. That amount of money that is paid for the cost of Stamp Duty differs from one State to another. While residents of Delhi and West Bengal have to pay 6% for registration of property, a Mumbai resident pays 2%, and a Jharkhand resident has to pay 3% for property registration. This percentage is calculated on the total value of the land & property that is registered.

Similarly, registration charges also vary from State to State, although in most of the states, it is one percent of the value of the property. Stamp duty and registration charges are also calculated based on the type of land/property, like agricultural land, urban apartments and single houses. For instance, some states take into consideration the total constructed area in case of independent houses while calculating stamp duty and registration charges. Whereas, in the case of apartments, the super built-up area is also taken into consideration.

VI.     Document Verification and finally registration

Then comes the stage where the execution of the final Sale Deed is done in the Sub-Registrar’s office. All the parties need to carry two photographs and their identification documents. Two witnesses are needed at the time of registration. It is mandatory to submit all the documents that verify the real estate transactions that took place between the purchaser and the supplier of the land.  The fees and all other chargeable amounts that include the amount for scanning of the Sale Deed, are to be paid at the office of Sub-Registrar. 

VII.     Mutation of Names 

After the registration procedure is completed, the buyer can go to the local municipal authority to do the mutation of the title of the land & property. The entire process normally takes around one month.

Once the documents are duly verified, the registration procedure is done. The Sub-Registrar then will hand over the original documents and keep a copy with him/her.

Online Land Registry in India

In the present day, there is the facility for registering the land and other properties online. Land registry is made mandatory to secure the personal property as well as the property of the State. This also helps in proper governance. If the land is registered, it gets justified and proper land management services from the government. It is the right as a citizen of India to register one’s land and property and give and take all the benefits to and from the government.

The Land Registration Act, 2002 has introduced the system of online registration of land. This system has brought several benefits for the people as well as the government and municipal authorities. This has helped to get rid of all the boring paper works, and all the edition and addition can be done easily with the help of technology. Further, all lands can be tracked properly just by one click on the button of the online land registration system. This has also eliminated errors and has encouraged transparency in the valuation of the land.

Conclusion

Typically, the Land Laws of India along with the Registration Act, 1908, has helped a lot in the proper transfer of lands from one owner to another. The laws also help to solve all possible disputes that may arise in the future. The government and the municipal authorities can impose the proper tax on these lands which are registered and thus can earn capital that can be invested for the development of India. This registration of land and property also helps the government officials to track a record of each property and create a proper land map of the country. With proper registration of land, one can get proper compensation if that piece of land is acquired by the government or some other private companies. So, it is always beneficial to get one’s land or property registered in lieu of the law of the land.