Your house is a valuable asset that you want to secure at all costs. Once you have chosen the property, you must consider fulfilling the legal requirements to avoid problems in the future. However, the Covid-19 pandemic has made all processes go online. Therefore, if you have purchased a house recently, you can register it online without having to step out of your house. You can also get online lawyer consultation for the assistance you need throughout the registration process.
Is registering your property necessary?
The Registration Act 1908 mandates that your property must be registered in your name under Section 17. The procedure is no longer voluntary but rather a legal requirement. As an owner or purchaser of a particular property, a certain percentage of the property value must be paid to the State government along with a 1% registration charge.
The registration process is different in different states. However, to provide timely and hassle-free services, most of them have enabled online registration. It is crucial to remember that delaying your property registration will cost you more money and legal disputes. When you consult a registration lawyer, business property, personal property, or other land gets registered quickly.
Here’s how you proceed
If you reside in a state where property registration is allowed online, there are few instances where you need to be physically present. Learn the procedure below.
Step 1: Based on the circle rates of your area, calculate the value of the property that you own.
Step 2: After that, the circle rate and the actual price paid have to be compared. When you pay the stamp duty, the higher value of the above two will be applicable.
Step 3: You now need to buy non-judicial stamp papers of the value that you calculated.
Step 4: You can purchase the stamp papers online or in person. But you must buy this stamp paper from a licensed stamp vendor, even if you are purchasing an online e-stamp. The stamp duty is then paid to the Collector of Stamps. But if you have already paid it, you would require proof of the same.
Step 5: Now, the deed has to be typed and prepared on stamp paper. The subject matter of the deed will vary based on the nature of the property transaction. It can be a lease, sale, power of attorney, mortgage, or any other type of land or property.
Step 6: The next step is to get your deed registered at the Sub-Registrar’s office. It is the only instance where you have to be physically present along with two other witnesses. You and the witnesses must carry identification documents, photographs, and the original copy of the deed.
The final step is to collect your sale deed from the Sub-Registrar’s office. Since all of this is a complex process, you can opt for online lawyer consultation. When you consult a lawyer business property or any other land registration becomes easier because they do most of the legal work on your behalf.