Hello, My self Panchal Hemant, & am NRI, i was buying a Raw house from Madhya Pradesh Housing Board, Can you please guide what is the present charge of registration in Ratlam (Madhya Pradesh) and Indian gov give the reliability for NRI in registration charges. Thanks Panchal Hemant,
I want to buy a land where construction upto plinth level has completed by owner , and he selling that property at 525000 rupees, i want to know that how much i have to pay for registration? What are difference between open plot and plot have construction upto plinth level stamp dusty charges and registration charges?
I am planning to purchase OLD house (20*60) at Rajendra Nagar,Indore. Can you please help me to understand the registration process and amount to be paid against Stamp Duty & Registration.
Appreciated much more,If any roughly calculation been provided.
I live in USA and need to buy a property in MP. I can travel to India in around 8 months from now, but need to buy the property before. I am planning to get power of attorney on my father's name so he could complete the transaction. Can you please tell me, would it be possible for my father to get the registration done based on Power of Attorney or do I need to visit India and then only the Power of Attorney procedure can be completed at Land Records office. Kindly suggest.
Hi Rohit, Only power of attorney is enough for buying property in India. But i want to clear few points here that any power of attorney (Special power of Attorney or General Power of Attorney) executed outside India needs authentication. So, any power of attorney executed outside India should be authenticated by a notary public of that country , the Indian consul, or by a representative of the Central Government. Such documents need to be stamped within three months from the date of receipt in India, to be payable at the district registrar's office.
The attestation of power of attorney is not compulsory . However, it is advisable to get the document attested by two witnesses.
Right Rishi!!!! But remember that purchasing land or residential property will now become costly in Madhya Pradesh as the stamp duty on registry of property documents which was now calculated on the basis of 0.125% of the property value is proposed to be raised to .5%. The Government wants to use the additional income that would be generated through this hike on creating jobs in the rural areas.
Generally stamp duty shall be paid or before or at the date of executing a document. Doc can be written on plain paper and stamp duty can be paid through DD / pay order issued by any nationalised bank / scheduled bank or challan within two months from the date of execution of the doc and get it Certified by the jurisdictional District Registrar or Sub Registrar.