Frequently Asked Questions
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Our industry professionals are able to deliver better ideas and solutions embedded with a deep understanding of each client’ business and industry. The industry focus of our experts allows us to offer comprehensive solutions and solutions embedded with a deep understanding of each client’ business and industry. The industry focus of our experts allows us to offer comprehensive solutions.
At the time of registering the property:
- TDS for an amount exceeding Rs 50 lakhs for residential or agricultural land purchase. The TDS is to be submitted in the builder/seller name.
- Stamp duty on registration
- Service Tax is applicable if the property is being purchased from the builder who conceived and constructed the project before offering possession to the buyer. If a ready-to-use property is purchased from the seller then service tax is not applicable
- Value Added Tax (if applicable in the state).
Property tax becomes applicable from the date of registration of ownership documents.
These charges become applicable when the builder has transferred ownership to the property owner, but it is kept vacant and not occupied or rented out.
The seller presents both the original property document and a copy with the area Sub- Registrar. Both the seller and the buyer present themselves before the sub- registrar who after an inquiry and verification executes the registration and handovers the documents to the owner.
No, you cannot sell a property without registering it appropriately. This registration document is proof of ownership.
Yes, the purchaser can provide a “Power of Attorney” in the name of a relative who will register the property on behalf of the owner.
- Check for the plans approved by the sanctioning authorities.
- Confirm if the land title is clear and there are no litigations.
- Confirm with the builder if construction has been approved with the authorities.
- Evaluate the agreement made by the builder with you with an advocate.
- Get a checklist of all items pertaining to the construction of the house/office or commercial building.
Sale deed is a document transferring immovable property including land, house, flat, office or others to another individual. This deed should be registered mandatorily except during resale of flats in apartments or complexes. Nevertheless, stamp duty is applicable for all sale deeds with differing rates in each state in the country. The stamp duty is calculated based on age of building, location, type of unit and so on.
A title deed proves the ownership of an individual to an immovable property. This document is a stamped and registered evidence proving the ownership title to the buyer.
All agreements from the seller/builder, title deeds, sale deeds wherever applicable, original registration receipts, stamp duty receipts, document for undivided share of land in case of apartments, proof of payment of electricity bills, maintenance, water, property tax, up to the date of handing over.
