Top Auspicious Dates For Property Registration In 2022

Photo: KnowInsiders

As the year 2021 was a roller coaster for many of us, important things like buying new houses and registering property have been pushed to 2022. If you too have pushed your plans to this year, you need to know the auspicious dates for property registration in 2022 to plan your property purchase and registration properly. These days don’t have to sync with auspicious days for land registration in 2021, so if you’re planning to buy and register property, read on.

What is registering property?

Property registration is the process of registering documents related to property according to section 17 of the Registration Act, 1908.

When you register the property you purchased, you should pay stamp duty and registration charges for the sales deed. The property registration process must be done at the office of the sub-registrar having jurisdiction over the area in which you have bought the property. In most Indian states, property registration involves a computerized process. Middlemen are not required.

When you purchase a flat directly from the builder, registration of property gives you the right to legally own, use and dispose of the property. When you purchase a flat that is being transferred from one hand to another for the second or third time, you will have to pay stamp duty and registration charges over it.

To register a sale deed, conveyance deed or gift deed in Delhi, for instance, men will have to pay a stamp duty of 6%, while women have to pay a stamp duty of 4%. You need not pay stamp duty to register your will, but you will have to pay a registration fee of Rs 600. You will also have to pay a registration fee which is 1% of the total value of the sale deed, and Rs 100 as pasting charges. Both the vendor and vendee and two witnesses should be present along with proofs of identity when documents are being verified. After documents are verified, the official concerned draw up the deed and completes the registration process.

Simple Steps For Property Registration

While you might have already read a great deal about the process and must know quite well about it, we give you some handy tips that would help you complete the process with no hassle.

Preparations: Day before, sit and keep all the documents that are required at the time of registry. Do not fiddle with them over and over. Your run the risk of losing the papers in case you are not careful. Before you leave the office, make sure you collected all your documents.

Timings: The office of the Sub-Registration Magistrate operates between 9.30 am and 6 pm on all working days. Between 2 and 2:30 pm is lunchtime. Plan your day accordingly. Also, check the timings for changes due to the COVID-19 pandemic.

Photo: RoofandFloor - The Hindu

It would only be better if you do not plan anything else for the day on which the property registration is to take place. Rest assured that your entire day will be spent here. Since it is absolutely important to you that all goes fine, keep your focus only on one thing.

Payment: Since all things are done digitally these days, stamp duty and registration charges are paid much before you actually appear in the sub-registrar’s office to register your property. Take a lawyer’s assistance to take care of this part of the transaction, too. It is only after paying stamp duty and registration charges that an appointment is taken for property registration.

Documents: Along with the property document, keep close to you at all times your Aadhaar and PAN Card. In place of Aadhaar, you could also produce your voter ID card or driving license or passport. These are the first things you will have to flash when the Teller, the Reader and the Sub-Magistrate call your name.

TDS: In case the deal size was over Rs 50 lakh, the buyer will have to submit proof showing he has deducted one percent as TDS from the property value. Do not forget to keep that paper with you.

Witness: Your witnesses are quite crucial for the process to take place. They have to be present with you through the entire process and must have valid ID proof along with them. Your witnesses should ideally be people you know well. Under no circumstances consider their role in the process as only academic.

No privileges: All are treated equally in the Sub-Registrar’s Office. There are, for instance, no separate queues for women or senior citizens.

Delivery: Typically, it takes 15 days for your documents to get registered. Your documents will be handed back to you only after you produce the receipt that was issued to you at the time of registration. In case you have taken a home loan, the bank might send its representative to collect the document. You could also collect the papers and give them to the bank yourself.

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