What is property registration?
It refers to the registering of documents relating to transfer, sale, lease or any other form of disposal of an immovable property. Registration is compulsory by law, for all properties under Section 17 of Indian Registrations Act, 1908. Once a property is registered lawfully, it means that the person in whose favor the property is registered is the lawful owner of the premises and is fully responsible for it in all respects.
How can I register my property?
Registration of a property includes necessary stamping and paying of registration charges for a sale deed and getting it recorded at the sub-registrar's office of the concerned jurisdictional area. If a property is purchased from a developer directly, getting it registered amounts to act of legal conveyance. In case the purchased property is a second or third transaction, it involves a duly stamped and registered transfer deed. Nowadays, property registration process is computerized in most states.
How could I verify that the documents shown to me, by the seller are genuine?
• Projects approvals can be verified from the corporation or the sanctioning authority's office
• Ownership documents need to be checked.
What documents do I need to check if I am buying a resale property?
Clear and marketable Title, Sale Deed, Encumbrance Certificate, Corporation Approval Certificate(CMDA/DTCP).
What documents are required for registration of a new apartment/plot?
Sale Deed, Building Plan approvals, Completion Certificate, PAN Card and Photographs.
What documents should I check before buying a new property?
• Sale Deed
• Title Deed
• Approved Building plans
• Completion Certificate ( Newly Constructed)
• Commencement Certificate( Under-construction property)
• Encumbrance Certificate
What is Stamp Duty? Who is liable to pay Stamp Duty? Do I get tax benefits on Stamp Duty?
Stamp Duty is the tax paid for the legal recognition of property. It is paid by the home buyers. You can claim tax incentives of up to Rs 1.5 lakh on stamp duty and registration charges on a new property purchase or construction of a house. However, these benefits are available for only one self-occupied property.
What is Power Of Attorney?
Power of Attorney allows a person to authorize another person the right to make decisions regarding the person's assets, finances and real estate properties.
There are two types of power of attorney.
First, the 'General Power of Attorney' where a property owner confers 'general' rights. The rights include but are not limited to sell, lease, sub-lease etc.
The Second one is the 'Special Power of Attorney' where only a specific right is given by the owner to the chosen person.
Can I authorize someone else to register my property by granting him Power of Attorney?
Yes, you can execute Special Power of Attorney to get your property registered by someone else.
Can foreign citizens of Indian origin acquire commercial properties in India?
Yes. Under the general permission granted by Reserve Bank properties other than agricultural land/farm house/plantation property can be acquired by foreign citizens of Indian origin provided the purchase consideration is met either out of inward remittances in foreign exchange through normal banking channels or out of funds from the purchasers' NRE/FCNR accounts maintained with banks in India and a declaration is submitted to the Central Office of Reserve Bank in form IPI 7 within a period of 90 days from the date of purchase of the property/final payment of purchase consideration.
Why Adityaram properties?
Our team of Real Estate advisers and analysts know exactly what is most important to buyers and investors. We acknowledge that the Realty industry is synonymous with risk and distrust, and so our goal is to allow our customers to have a property that lasts; something they're proud of and proud to show off too.