When the registry can be done?

Q: If I buy a property in this project and pay the whole amount lump sum then will the registry be done at that time only. Or this project is still not available for registry.

Devendra Sonare,

12th June 2015

Legal in MGR Princes Hill Top, Panchderiya, Indore

Follow Discussion

Also see discussions for

Indore Panchderiya MGR Princes Hill Top Legal Legal in Indore Legal in Panchderiya Legal in MGR Princes Hill Top

Replies (5)

Hi All, You will have to pay the stamp duty and registration charges for the sale deed and get these documented at the registrar's office.Anyone can also apply stamp duty and registration charges online through the official online portal.

Manohar Scindia, Indore

16th June 2015

Comment

Hi all, The transfer process follows a series of successive stages, the time period involved varies considerably.
Generally the following guidelines apply while in lump sum payment.
1. A cash transaction might take approximately 6 weeks.
2. In normal circumstances, including bond approval, approximately 8 weeks.
3. If conditional upon the sale of the purchaser's property within 30 days, approximately 12 weeks.

Faizan Khan, Indore

16th June 2015

Comment

Hi Naveen, the first and second step is related to selling or buying agreement. The property needs to move from the name of the Seller into the name of the Buyer. First, the Transfer Attorney, who is appointed by the Seller, prepares all the documents needed for registering the property transfer. The most important documents include the Title Deed and cancellation figures from the Bank, and a rates clearance certificate which serves as proof of payment for rates and taxes from the relevant municipality.

Wasim Iqbal, Indore

15th June 2015

Comment

Hi Wasim, I can understand Step 1 and 2 but unable to understand 4 and 5 step...

Naveen Jaitley, Indore

15th June 2015

Hi The Bond Attorney now prepares the bond documentation with the Buyer.The Buyer then signs these documents and pays all the costs involved to the Bond Attorney. The Bond Attorney will submit these documents and guarantees to the Transfer Attorney for submission to the Deeds Office.

Wasim Iqbal, Indore

15th June 2015

Thank you for your response.

Devendra Sonare,

15th June 2015

Hi Devendra, the property registration process may follow, following steps which will help you to understand the process...
1. The Seller
2. The Buyer
3. A Transfer Attorney
4. A Bond Cancellation Attorney
5. A Bond Registration Attorney
6. The Registrar of Deeds
7. The Estate Agent and the Mortgage Broker are generally involved early on.

Wasim Iqbal, Indore

15th June 2015

Comment

Hi Wasim, thank you very much for your guidance. It's a well thought through response.But I did not understand a few of the point that you mention so can you explain little bit more.

Naveen Jaitley, Indore

15th June 2015

Thank you for your response.

Devendra Sonare,

15th June 2015

Hi Devendra, I think registration of any properties will take the certain time say 1 Month because it will issue from registrar offices and not from builder offices.

Aditya Jogi, Indore

15th June 2015

Comment