Thursday 23 March 2017

LAND REGISTRATION



What is Land Registration ?

Land or Property Registration refers to the registration to document changes in ownership and transactions involving immovable property. Whenever you buy a piece of land/immovable property, you need to register the same with the authority concerned, so that a legal ownership title is guaranteed to you. This greatly reduces risk of fraud and helps solve disputes easily, in addition to creating and maintaining an up-to-date public record.

What You Need to Do to Register Land/Property

Under the computerized Land and Property Registration system, registration is easy. It facilitates transparency in valuation and eliminates middlemen. Some states require an application to be submitted to the concerned authority, which may be the Sub-Registrar or the SDM of your area. The application form can either be downloaded online or obtained from the concerned authority's office. After due verification of details, the Deed is drawn up and the registration process is complete.

What are the documentation required?

Legal documents from the seller
The Deed Title
Encumbrance Certificate
Property Tax Receipts and Bills
Release Certificate by Bank

Legal documents required by the purchaser
The Title Deed
Stamp duty receipt payment
House Plan Approval/ Commencement Certificate
The purchaser should also receive a NOC from water, electricity, lift and other authorities etc


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