Register your property in Hyderabad
Land registration deals with ownership, possession or other rights in land. Whenever you buy a piece of land or property, you have to register the same with the concerned authority so that legal ownership is guaranteed to you. It refers to document changes in ownership and transactions involving immovable property and provides evidence of title, facilitate transactions and to prevent unlawful disposal of property.
Hyderabad is a growing real estate hub and if you are looking to buy a home or property in Hyderabad, you need to know the procedure to register the property.
Pre-requisites of property deal
First, go to the office of the sub registrar and locate the property at the registry and revenue office. You need to carry the following documents with you:
1) Patta or the legal ownership document; which is issued in the owner’s name by the Revenue Department under the Seal of the Tahsildar;
2) Encumbrance Certificate (EC); which testifies that the property to buy does not have any legal dues.
You need to keep in mind that under the purview of legal formalities, the property is transferable and heritable. While transferring the property in your name, you should check all papers with regard to payment of taxes, electricity bills, water bills, etc. You must check with the seller whether all the bill payments are made up to date before proceeding with the property deed.
Sale deed and stamp duty
Property buying is incomplete without the final sale deed. The sale deed is prepared by your lawyer within two days and it costs you about Rs 7,000.
Also, you need to deposit the stamp duty and other fees with the bank. Currently, the calculation of the stamp duty is as follows –
a) All municipal corporations: 9.5% of the property value = 7% for stamp duty + 2% for transfer fee + 0.5% for registration fee;
b) Special and selection-grade municipalities: 9.5% of the property value = 7% for stamp duty + 2% for transfer fee + 0.5% for registration fee;
c) Other places: 9.5% of the property value = 6% for stamp duty + 3% for transfer fee + 0.5% for registration fee.
Documents to be submitted at sub registrar’s office:
After depositing the stamp duty and registration fee, legal documents are to be deposited at the sub registrar’s office. The following documents need to be submitted at the sub registrar’s office in the presence of two witnesses.
Document required to be registered (in duplicate);
a) Four passport-sized photographs of the authorized signatories of both parties;
b) Photo identification of each party and witnesses (i.e., a voters’ identity card or passport or identity card issued by either the government of India or semi-government and autonomous bodies; or identification by a Gazette Officer);
c) The power of attorney in favour of the person executing the sale deed;
d) Certified true copies of the Certificate of Incorporation of both seller and buyer;
e) Photograph of the property concerned;
f) Approach route map to the concerned property from the nearest landmark/main road;
g) Notarized affidavits from both parties to attest that the transaction respects the terms of the Urban Land Ceiling (ULC) Act;
h) Latest receipt to show payment of municipal tax to Municipal authorities. The documents are submitted to the reader of the Sub registrar of Assurances for scrutiny.
The possession of the property can be termed to pass on to the buyer when the deed is presented for registration.
