Most of the times we shirk away from “thinking” of buying a house not because it requires a lot of research and running around but because of a past notion of the home registration process being one hell of a tedious day’s work. From running around between government offices to never ending paperwork, property registration process “seems” like the toughest part of “saying yes to your dream home”. Having said that, a friend recently bought her first ever home which was the talk of the town amidst all of us - her friends, but surprisingly what amazed most of us was the ease of the new property registration process. Are you also sailing in the same boat as us? Let’s have a look at how easy the process is.
- Login to Registration and Stamp Department and create a login Id.
- Pay the required registration and stamp duty charges after uploading all the documents.
- Schedule a date to register the property and visit the sub-registrar office as scheduled.
- For all the uploaded documents, make the required changes and cary the list along to the sub-registrar’s office. An e-KYC will be conducted which will then be verified with the Aadhaar database.
- The challan copy of the registration charges along with stamp duty and other fees will be verified as well.
- Post verification the registration process will be allowed to continue.
- A document number will be generated after the process and thumb impressions will be collected as well.
- Later the application will be scanned and updated, even online.
But before you start the process, make sure you have your set of documents ready. Here a list list for you to note.
- Identity proof of the buyer, seller and witnesses.
- PAN card of buyer and seller.
- Aadhaar card of buyer, seller and witnesses.
- Original documents, with the signature of all parties.
- Encumbrance certificate.
- Demand draft/bank challan of payment of full stamp duty.
- Section 32A photo form of executants and witnesses.
- Photograph of the property’s exterior.
The process after property registration online involves one to go to the sub-registrar’s office. Though the list of documents as mentioned earlier would have been submitted online, carrying them along is always a great idea. This brings us all to our next question about the stamp duty charges and it’s importance. The stamp duty charges are collected to validate the sale of the property in addition to maintaining a record of purchase.
Do you know how are the charges calculated? Here’s your guide!
- The registration charges are calculated at 0.5% of the property value
- The stamp duty charges are calculated at 4% of the property value
- Transfer duty is calculated at 1.5% of the property value
Note: The stamp duty and the transfer charges are calculated on MV or consideration depending on which one is higher.
After having done all of this, going to the sub-registrars office is the most important step. Being well prepared with what to expect makes the process faster and simpler. Here what to expect during property registration process at the deeds office:
- Based on the details provided while uploading the documents online, one must get a check slip made by the officer at the SRO.
- e-KYC being the next step following by finger print collection of both the parties. This will then be verified against the Aadhar database.
- The payment documents like the stamp duty, registration fees and other fees will be verified and checked.
- Endorsements will be printed on the document being registered.
- These documents are then registered by the sub-registrar using a document number
- The thumb impressions are collected
- This document will then be scanned and uploaded on the portal which the user can download at any given point in time.
Unlike the times before, the digitalisation has made this process a whole lot more simpler and faster thus helping the buyer contain the excitement to move into their new home as soon as it is ready! Hope this helped and motivated you to buy your new home today. Oh! And before you forget, log into Hyderabad’s best real estate directory portal - Property Adviser for some cool properties in town!