With increased convenience of internet usage, many Indian states have chosen to provide digital means for property registration.
No one is allowed to register any recently bought property, where all buyers are lawfully obliged (under section 17 of the Registration Act 1908) to register for any property.
While the process goes on, homeowners or landowners are liable to pay the very authorities a small part of the net worth and a 1% registration fee as stamp duty.
The traditional ways suggest that one needs to visit Sub-Registrar’s Office to complete all the procedures in order to register their property. And the whole process was hectic and time-consuming. Contrarily, online registration service has a fast and has a time conserving approach as you can complete major procedures online.
Key points to remember while registering your property online
1.) You can file only certain procedures online
Even though you have the advantage of online registration service, still there are numerous factors involved that cannot be treated online.
- Determining the circle rate in the region to calculate your total asset value.
- The stamp duty, as well as the registration fee sum, may be fixed.
- You could pay online stamp and registration fees and request a receipt.
- Then you’ll have to set a meeting with the sub-registrar at the designated time for the final registration of the properties.
2.) Online Payment
Only after your electronic payment for essential stamp duty and registration costs will an appointment be scheduled for the property registration. You may pay through any means, debit card or credit card or any other digital forum.
3.) TDS Payment
If the transaction valuation surpasses Rs 50 lakhs, then the owner shall pay an online TDS of 1%, and download a property copy. You’ll need this document at the moment of the physical search.
4.) Have one primary mobile number
As you enter the application online, the way to ensure legitimacy is through your mobile number. Not only can you receive one-time SMS (OTP) passwords after your application, your appointments and the procedures scheduled here and sent as a text on the same mobile number.
5.) Documents and Information
The only thing you need to buy is the e-stamp papers, and the stamp duty and registration fee charged electronically. Send all the records for review before the sub-registrar.
6.) Details you need to fill out.
- Property Description – Area code, Number, Pin code, etc
- Property Type – Residential, Agricultural, Plot, etc
- Ownership form – Purchased, gifted, leased, etc
- Personal details – Your credentials
- Proof – Deed, or power of attorney
7.) Documents required before Sub-registrar
- A ready sale deal on non-judicial stamp
- Two passport size photos
- E-Registration receipt
- Pan-Card xerox copy
- Original IDs of all the three parties
- If the valuation is higher than 50 lakhs, then a TDS copy
- The investor must provide a recorded history of ownership transfers for both land and home property
8.) Receive your documents back
It takes about two weeks for the registration process of your property records. To get your papers delivered back to you, you must visit the Sub-Registrar’s office.
Although most of the property registration task is carried out electronically through the authorized officials’ websites, all parties transacting the money have to revisit the Sub-office Registrar’s for the final signature and biometrical checks. To settle this form, you have to reserve a slot online.
To avoid any risk, just as in other purchases, you must take two witnesses to conclude the procedures. Also, take the photocopies of their identity documents and proofs must be brought by these witnesses.
The online registrations are convenient and easy. Certainly, the above pointers will help you to ease down the process, cutting out all the confusion.