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Real Estate Forum on Registration

Real Estate Property Discussion Forum and Guide to Real Estate Queries

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Q: I have bought a flat in Ozone Everrgreens in Harlur Road, Bangalore. It is a 953 sq, ft apartment. What will be expected flat registration cost?

Latest Answer: Stamp duty is paid at 5% of the registration value while registration fee amount to 1 percent of registration value. Since you have not provided the price of the apartment it is not possible to tell you the registration charges of your flat. For example: If you have brought the flat for say Rs 50 lakhs then the registration cost will be Rs 50,000 which is 1% of the registration value and stamp duty will be around Rs 2.5 lakhs that is 5 % of the registration value. In total it will be around Rs 3 lakhs ( registration+stamp duty).
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Q: What is the deadline the Noida flat owners are talking about and want it to extend?

Latest Answer: I heard that problems are even more complex in case of those who had bought properties in group housing societies through transfers from original allottees. Many of them have expressed their inability to get lease deeds transferred as in many cases original owners are no longer traceable.
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Q: How many colonies the government is planning to regularise?

Latest Answer: According to sources, this move by the government to put the lands on sale and purchase will get a ray of hope to many citizens as these lands were restricted from being sold after issuance of provisional regularisation certificates in 2008.
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Q: Does Anyone has idea why builder is stating that registration will take more than 6 months after taking possession? This ideally is not the scenario if everything has been taken care of already. It's bit suspicious as after taking possession I don't have registration in place what is legality of ownership?
Latest Answer: Hi , I am the owner of a flat in Plumeria , has any one got the registration done yet?
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Q: I was checking with various builders for a 2 BHK to buy near whitefield. Can anyone tell me how should a Payment schedule look like ideally. There seems to be lot of difference. Some of them are asking for almost 95% payment after plastering is done, while others have further steps like electrical, flooring, fittings etc. Is this something each buyer should bargain for?
Let me know if any of you can explain this.

Latest Answer: I think real estate builders have made some payment schedule accordingly and the property buyers are making the payment according to the work progress.
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Q: Mumbai has seen a major backdrop in property registration number. What amount of percent has gone down in property registration?

Latest Answer: According to a report, it is said that on monthly basis the number of property registration has gone down by 12 percent. The only push in realty sector is because of the NRI investing in Indian realty.
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Q: What if the owner is not registering his property? Is there any idea how much percentage of land has not been registered?
Latest Answer: The urban development department of Ranchi is planning to charge owners a fine of Rs 2000 daily if they do not register their property within a given time. Almost 50 percent of the properties in the state has not been registered.
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Q: Can a builder increase the flat cost beyond agreed cost at the time of booking? Can they hold registration even after getting 20% payment of original agreed price?
Latest Answer: If you have an written agreement then you can file a case against the builder. After paying the booking amount he has no right to increase the rate per sqft area. Take legal help for the increased costs.
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Q: The circle rates is introduced to assess the stamp duty for registration of land. From where the people will come to know about the revised rates for registration of land?
Latest Answer: Circle rates is the minimum value of any piece of land or immovable property for registration. The introduction of new circle rates in Himachal Pradesh is only for benefit of property buyers or sellers. At present, the rates for registration of land deals are worked out every month and people have to go to the Patwari (revenue official) for getting the rates, which caused lot of inconvenience and the new system would provide relief to people and this will be revised once a year.
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Q: Why is circle rates introduced in Himachal Pradesh? Will the circle rate get revised?
Latest Answer: According to sources, the decision was taken by the Cabinet to introduce the circle rates for assessing the stamp duty for registration of lands. The circle will get revised in every one year.
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