Cryptic property Frequently Asked Questions

Real Estate

Frequently Asked Questions

Cryptic Property

What is a Property Registration Charge?

While stamp duty is the money a states charge for transaction of a property’s sale value, the enrollment charge is the cost customers pay for the service of putting a contract or a deed in the government’s records. In simple words, the government maintains a registry of documents in return for money. To a great extent, this process lends inviolability to papers that would otherwise not be legally bound: the Indian Registration Act, 1908, details how enrollment of documents occurs.

Who pay registration fee and stamp duty during property transfer?

According to Property Law, the property buyer has to pay registration fee as well as stamp duty to complete the process of property transfer.

How stamp duty is calculated?

Stamp duty is calculated on many factors – 

  • Transaction value
  • Circle rate
  • Property Location
  • Owner Age and gender
  • Property type – residential, commercial
  • Amenities nearby
What Documents required during property transfer?

Both party buyer as well as seller submit documents during property transfer –

The seller’s doc

  • Id Proof
  • Photo
  • Khata certificate
  • Property map
  • Witness and their id and photo
  • NOC

The Buyer Doc

  • Sale agreement
  • Sale deed
  • Khata certificate
  • Photocopy of society share certificate and society registration certificate (in case of housing project)
  • NOC from the apartment association (in case of housing project)
  • Sanctioned building plan (under-construction property)
  • Title documents of land owner (in case of land purchase)
  • Land purchased certificate
  • Tax paid receipts of the last 3 months
  • Registered development agreement (in case of joint development property)
  • Power of attorney/s (if applicable)
  • Joint development agreement between land owner and builder (in case of joint development property)
  • Copies of all registered agreements (in case of resale property)