As you finalize a residential property in Delhi and now you want to buy it. Property registration is now the next important step to acquire the property legally.
Legally, you are not the owner of the property by just paying the demanding price to the seller, if the property is not registered in your name. That’s why property registration is the most important step for everyone.
We can say that property registration is the final agreement that declares all the conditions & amounts under which the property is being sold. To complete the process of property registration, you need to submit some documents & a duty fee to be paid.
Important Documents For Property Registrations
- Two passport size photographs of both copies of the sale deed of buyer and seller
- E-Registration fee Receipt of Registration fee with undertaking / Affidavit
- E-stamp paper of requisite value
- If the transaction is for more than ₹5 lacs, a self-attested copy of Pan Card or Form 60
- Original ID Proof of both parties and witnesses like voter card, pan card. Passport, Driving License, Aadhar Card, and in case of companies, power of attorney/board resolution
Property Registration Process in Delhi
- Calculation of Stamp Duty
As we mentioned in the upper paragraph that you cannot get ownership of the property without registration & payment of stamp duty. Stamp duty is a tax charged by the government when you buy or sell any property.
Stamp duty in Delhi varies between 4% and 6% of the total transaction value, on the other hand, the registration fee is 1%.
- Payment of Stamp Duty
Generally, you can pay the stamp duty in 3 different ways
Non-Judicial Stamp Paper – buy stamp paper from an authorized vendor, here the price of stamp paper must be equal to the value of stamp duty.
Franking Method – you can go to the bank and pay the stamp duty, they will stamp mark on the documents as confirmation of the payment.
Online Payment – you can pay online at Stock Holding Corporation of India Limited.
- Print the Sale Deed
With the help of a professional, you have to make a draft, consisting of every detail of the buyers & sellers, and property details. Once the draft is complete, both the buyer & seller have to sign on each page.
- Registration at Sub-Registrar Office:
Now you have to take the appointment from the sub-registrar office and present there (both buyer & seller) at the assigned time slot with two witnesses. And now the property is legally yours.
So, by keeping in mind these points & steps you can easily register and complete your home buying process in Delhi. If you are looking for the best & dispute-free residential property in Delhi then there is good news for you.
DLF Developers are now again launching their new residential project in Delhi as DLF One Midtown, next to the famous Capital Greens Community in Moti Nagar Delhi. Here you can buy 2, 3, or 4 BHK Apartments and complete the property registration process without any hassle.