Property registration is the final and most critical step in a real estate transaction. In Delhi, the process is governed by the Registration Act, 1908, ensuring that your ownership is legally recognized and protected from future disputes.
The Importance of Registration
Registering a property document serves as public notice that ownership has been transferred. Without proper registration, the buyer does not acquire legal title to the property, even if full payment has been made. It protects the buyer's interest and provides a permanent public record of the transaction.
Step-by-Step Registration Process
1. Determining the Circle Rate
The first step is to calculate the minimum value of the property based on the 'Circle Rates' defined by the Delhi Government. The stamp duty is calculated on whichever is higher: the circle rate or the actual sale price.
2. Preparation of Sale Deed
A sale deed must be drafted on non-judicial stamp paper. This document outlines the terms and conditions of the transfer and must be executed by both the buyer and the seller.
3. Payment of Stamp Duty and Registration Fees
Stamp duty in Delhi varies based on the gender of the owner (typically 4% for females and 6% for males). An additional registration fee (usually 1% of the total property value) is also payable via the e-Stamping portal.
4. Booking an Appointment
Once the fees are paid, you must book an online appointment with the Sub-Registrar's Office (SRO) under whose jurisdiction the property falls.
5. Execution at the SRO Office
On the scheduled date, both parties along with two witnesses must visit the SRO office. The Sub-Registrar verifies the identities and documents before finalizing the registration.
Documents Checklist
- Original Sale Deed: Drafted and signed by both parties.
- ID Proofs: Aadhaar Card, PAN Card, or Passport of buyer, seller, and witnesses.
- Proof of Payment: e-Stamp paper and registration fee receipt.
- Property Map: A layout plan of the property.
- NoC: No Objection Certificate if the property is on leased land or under specific colonies.
Conclusion
Property registration in Delhi has become significantly more transparent with online portals, yet it requires careful attention to detail. Ensuring correct stamp duty payment and flawless documentation is key to a hassle-free experience.