Land Registry becomes essential whenever there is a conversion in the ownership title of property/land . It is a progress through which the divisional administrative authority keeps records of the property/land execution that occurs within the circumference of its governing area. The ownership document of a constant property will be misleading at the divisional authority of a region, state or country, which needs to be modernized whenever a property/land alternates hands in ownership. When you register property/land or a share of land, you become a legalized owner of the same, thus greatly compressing the chance of cheating and also helping you out at the time of land discussions.
Land Registry in India Land Registry in India is a business chief administer by the individual state's authorities. Maximum of the state has their own property/land registry authority which sets rules and regulations about the forms and expense of land registry process. Though there might be some changes in the amount of registry fees payable, the channels remains more or less the same for many states in India. The principle stages of land registry in India are as follows: To start with, you need to go to the office of Sub-Register of Assurance for the purpose of searching records related to the property/land affected. You must inquire about the position details of the property/land and also make a note of the time period to be reviewed. It may cost you Rs 10,000 and may take up to 5 days to go through this stage.
Next stage involves the establishment of sale document by the purchase lawyers which may take seven days at the most and may cost you Rs 18,000 to 21,000. After the payment of the Stamp Duty on the final Sale Deed is made and the amount is deposited at a bank which may take hardly a day to be finalized. The amount you have to pay for the cost of Stamp Duty as five percent of the value of property/land is implicated. In the next step the, the execution of final sale deed occurs where in you required to move the document confirming the real estate dealings that occurs between the buyer and seller of land. The fees and other expenses you have to pay at the office of Sub-Register of Assurance may goes up to Rs 30,000 in addition to the cost you have to pay for the scanning of the sale deed.
The last stage normally takes 30 days and could cost you around 300, in this stage; it allows you to move towards municipal authority for transformation of the Title of the property/land