Flat Registration Charges in Madurai

What are the required property documents for registration? (This is a tentative list)

• Property valuation estimation.
• Sale deed.
• Payment of stamp duty and registration charges.
• Visit the Sub-Registrar's office for registration.
• Submission of documents.
• Any other documents as per local requirements.

What is the procedure for property registration?

To register the property documents, you need to submit them to the office of the Sub-Registrar of Assurances, who has jurisdiction over the property being transferred. The authorized signatories for both the seller and the purchaser must be present, along with two witnesses, for the registration process. The signatories should carry their proof of identity, such as Aadhaar Card, PAN Card, or any other government-issued identification.

If someone is representing the signatories, they must provide a power of attorney. If a company is involved, the person representing the company must carry relevant documents, such as power of attorney or letter of authority, along with a copy of the company's board resolution authorizing them to carry out the registration.

During the registration, you need to present the property card, original documents, and proof of payment of stamp duty to the sub-registrar. The sub-registrar will verify if the appropriate stamp duty has been paid for the property according to the stamp duty ready reckoner. If there is any shortfall in the stamp duty payment, the documents will be refused for registration.

Stamp duty is a tax paid to the government to establish legal ownership of an asset, while the registration charge is the fee for completing this legal formality in government records. The stamp duty amount varies from state to state. In many states, women are eligible for rebates or waivers on stamp duty payment. It's important to note that witnesses play a significant role in the overall process.

The two witnesses you plan to present during registration must also establish their identity in front of the sub-registrar. They should carry their identification and address proofs, and their biometric identity will be scanned as part of the process.

Desciption

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Property registration in Madurai is a vital step to ensure legal ownership and safeguard the interests of both buyers and sellers. Through the registration process, property transactions become transparent and legally binding. It is essential to comply with the required documentation, payment of stamp duty, and adherence to local regulations. By understanding the property registration process, individuals can navigate the legal aspects and secure their investment in real estate with confidence.

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