Guide to Property Registration in Mumbai

Property buying in India is one of the good long-term investment option. When buying or selling a property it is compulsory to register. It ensures legal transfer and ownership of property. Registration act as a proof for transaction and registration is done after execution of agreement. The language of document can be English, Hindi, Marathi or Gujarati so that it can be registered in Mumbai.

Documents or Papers Required for Property Registration in Mumbai

• Adjudication
  Adjudication is process of getting market value and valuing property to ascertain stamp duty by collector of stamps. If the document is signed, adjudication must be done within one month of time else two percent interest per month will be charged. Adjudication is valid up to six months or December 31 of the year which ever is earlier.

• Registration fees
  Sub-registrar will determine registration fees payable and issue the challan/confirms to accept the pay slip. Pay the registration fees by challan/pay slip from nationalized bank as per procedure laid down by respective sub-registrar.
• No objection Certificate
  No Objection Certificate under the Urban Land Ceiling Act if the area of land transferred exceeds 500 sq. mts. in Mumbai City and if the land belongs to a government or semi- government body or to a charitable trust NOC of such government or charitable trust is required.
• Property Card
  Property Card of the land on which the property is being registered or situated.
• Original document and its copy
  The document must be printed or typed on one side only and in black ink. A photocopy should be taken on only one side of the paper and there should be butter paper between the two sheets of the photocopy.
• Proof of old construction
  It is better to get the document adjudicated in case the building is very old and proper depreciation is not given by the sub-registrar. If property sold or purchased is in the old building and the benefit of depreciation is claimed on the market value, then any one of the following documents is to be produced as a proof of old construction:

1. Municipal assessment bill of the building
2. Building Completion Certificate
3. Original registered agreement between the builder and Buyer or of any other flat in that building.

• Proof of identity
  You need to produce id proof with photo it can be copy of driving license, passport, PAN card, driving license, employee id, voter id and proof of your address with some document support.

Steps or Process involved in Registration of Property in Mumbai

The real purpose of registration is to ensure that every person dealing with property can confidently rely on the statement contained in the register. The process of registration mainly involves the following steps.

• Pay proper stamp duty:
  Ascertain stamp duty either you can find out the market value of your property and the stamp duty amount on it from the Ready Reckoner or get the document adjudicated.
• Registration Fees:
  Pay the registration fees by challan/pay slip from nationalized bank. This registration fee should be paid a few days before going for registration and the receipt is to be shown to the Sub-Registrar’s Office one day before the actual date of registration.
• Obtain the appointment:
  Party has to obtain the appointment date, time and token number from Registrar’s Office prior to one working day of intended Registration. All the parties to the documents have to remain present at Registrar Officer to comply with Registration formalities on such appointed time.
• Two Witnesses:
  The sub-registrar first obtains signature of parties and witnesses in his presence. Thereafter Registrar puts his official seal and affixes unique numbering block on each page including the additional sheets and sheets which generally carries photographs, signatures, details of parties and witnesses.

The copy of such pay order/demand draft of bank for registration is to be submitted on the day of taking token number. Pay the required registration fees and computer service charges in cash as per the receipt when token number is being announced. Submit original document and one copy of each document. After completing the formalities the original document is returned to the party presenting the document for registration. This completes the process.

Tags: Dealing with property, how to register apartment property mumbai, mumbai property registration, Property in Mumbai, property registration in mumbai, Registration Fees, Registration of Property in Mumbai