Important Facts On Registration Process Of A Real Estate Property

Registering of a property needs to be carried out in cases of sale, transfer, lease, or any other way in which the property is disposed of. This is mandated under section 17 of the Indian registration act, 1908.

Registration Fee Of Residential Property And The Factors Affecting The Calculation

According to the Indian Registration Act of 1908, it is mandatory to get the property registered. The registration process is carried out on the production of the documents and payment of the registration fee.

Residential Property Registration Process In India

When one purchases a property, its registration and the documents of sale and purchase are of utmost importance. All transactions involving the sale of the property must be above Rs 100 in order to be registered.

Stamp Duty While Purchasing Property: Everything You Should Know

A government tax called stamp duty is levied on property transactions and collected at the time of registration. This tax is levied under Section 3 of the Indian Stamp Act, 1899.

Tips On How To Save On Stamp Duty And Registration Charges

Stamp duty and registration charges are levied by state governments and as such, these levies are subject to laws made by the states even though they are provided for by Central legislation.

Closing Costs Included While Purchasing A Residential Property

The most common problems that buyers face when purchasing property is the lack of knowledge of the expenses associated with the transaction. A purchase transaction of residential property has several hidden costs that can add to the heavy cost a buyer has to bear for an immovable asset like a house.