Procedure Flow :
- The property owner should give complete details of the property location, clearance certificate from urban land ceiling authorities, date of purchase of the title, legal ownership document, property transfer and inheritance issues, payment of all dues (property taxes, electricity and water bills or former alterations in the property registration).
- The next step would be to legally draft agreement made on stamp papers along with an advance payment to the vendor. A time period has to be mentioned for the registration.
- On behalf of the buyer, the property document will be prepared by a property registration attorney. The final deed will be printed out in the legal papers along with the stamp duty certificate. A payment of registration fee of about one percent of the property value will be done.
- For the final registration of the document, the property registry or the house registry is stamped, executed and registered at the sub registrar’s office with the approval of the seller, buyer and two witnesses. An appropriate amount of stamp duty based on the circle rate and the value of the property will be implied.
- The completed property document will then be presented before the Sub-Registrar for scrutiny. A payment of one percent of the transaction value along with the documents will also be presented. With the seller handing over the property to the buyer, the documents also will be handed over to the buyer within 30 minutes of submission of the payment receipt.
- For mutation of the title of the property, the buyer is required to apply to the local municipal authority to get the title for the mutated property with his name. A letter of mutation will be issued by the Municipal Authority in favor of the purchaser along with assigning the property tax based on the property value