Having a home of your own is one of the cherished dreams everyone has. Buying a property is one of the most important and major decisions that people works on. People invest their hard earned money into it. So land registration or property registration involves a lot of crucial paperwork before you invest your hard earned money into it. So it is better to have a pre-hand knowledge of the complete legal and other paperwork that involves in the land registration process in India.
Nowadays Apartments in Thrissur are very much in demand. People are planning to buy flats in Thrissur. Even builders are launching new and high rise projects in Thrissur. Thrissur is a great place to dwell, because of the weather, the connectivity and more over Government is investing into several projects that is opening up new scope of business and job. Land registration process for buying apartments in Thrissur are simple and systematic. Now buying flats in Thrissur have become more easy as the whole process of land registration has become online.
The land is considered as one of the most valuable assets for buyers. And after registration of and GST in India, systems and paperwork has changed a lot. The real estate sector has brought huge change both for buyers and sellers. The RERA has been drafted keeping all the concerns of the land buyers so that things remain smooth and easy for them and the buyers may not get deprived. The whole process of buying remains in vain if you do not go for “registry”. And the registration documents are the only proof for your land ownership and avoid any such further disputes.
To know about the complete process of land registration below mentioned are the complete process of land registration which includes the land holdings, title deeds, registration deeds, registration act and registration fees. Go through it thoroughly to have details knowledge of it before you finalize your property.
Land registration fees that are applicable in India
Different states have different land registration fees and stamp duty charges. In India, the registration fees and stamp duty varies from state to state. It varies from 0.5- 3 percent of the property value. This is subjected to the maximum of certain property value or the percentage demanded, whichever is less. In Meghalaya and Manipur, the land registration charge is one percent of the property value and can be charged maximum up to rupees thirty thousand. But here in this case if you buy land of fifty lakhs, in that case, one percent comes to fifty thousand, but in that case, too you need to pay thirty thousand only. Similarly, in Bihar, the registration value is 2 percent of the land. In Delhi, it is 1 percent of the land value. Whereas in Kerala, the registration charge is 2 % and the general stamp duty rate is 8%, so total 10% need to be paid off the land value. But the registration is revised by the government on a certain interval. Stamp duty is put on the agreement value and that varies from land to land and state to state. If a female purchases a land she gets a rebate on registration fees and stamps duty charges too.
The land registration process in India
The land registration process in India comes under section 17 of the . All the states except Jammu and Kashmir are covered under this act. As per this act, it declares the buyer s the owner of the immovable property that is valued more than Rupees One Hundred.
The land documents need to be submitted to the sub-registrar office that falls under the particular jurisdiction of the land purchased. The documents need to have authorized signature of the buyer and the seller along with two witnesses.
Along with the property card, you need to present a payment slip of the stamp duty that has been already paid before you go to registrar office.
You need to produce identity card while registration process. Adhaar card, PAN card or any other valid document for identity that has been authorized by Government is considered as mandatory. This is a mandatory process for both buyer and seller.
In case the buyer is buying the property from a real estate authority, in that case, there should be representative from the company who will act on behalf of the seller for the need to carry the signing document of the power of attorney, registration act and stamp act.
In case there is any defect in stamp duty the registrar has all the authority to cancel your documents.
Timeline guide for land registration process in India
You get four months from the date of execution to submit the compulsory documents at the sub-registrar office. If in any case, you fail to submit those documents you need to produce an application at sub-registrar office describing the actual reason for such delay. If the registrar accepts your application can permit you extended time to submit all the documents but in that case, you need to pay a fine of ten times of the original registration fees. If you stay abroad, in that case too, the documents must get registered and submitted within four months span.
The online registration process of land in India
To make things easy, Government is motivating people to go online. Even land registration can be done online. Now with the help of , land registration process has become easy. The middleman has been removed and things became much more transparent. Now you can start paying initial duties online and you can even get the land registration form online from where you can download it. You do not need to run to sub-registrar office for all the formalities of form fill up and submission of fees and registration documents.
Hope this information has been helpful for your land registration process.