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.
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.
Registration of property is not a choice, but is a necessity which has to be fulfilled by every buyer under the Registration Act. During the registration process, buyers have to pay a certain amount as stamp duty along with registration charges.
The RERA Act was established to provide transparency and accountability in the real estate sector. It ensures that the builder has complied with the necessary rules and regulations that are to be followed in a real estate project.
The Real Estate Regulation and Development Act (RERA) was introduced in order to prevent the builders from exploiting the buyers. The Act was introduced to bring about transparency, efficiency, and to protect the interests of the buyers.
Buying a residential property has been a dream of most of the Indian Individuals and it is important to exercise due diligence and verify various property documents before purchasing the property. Before entering into any contractual obligation, it is important that you check through the various documents to avoid future hassle.
Khata certificate and extracts are two documents that are issued by the Bruhat Bangalore Mahanagara Palike to the owner. These two documents are the Khata certificate and the Khata extract. The Khata is known by different terms in different states in India.
The encumbrance certificate is not only important during the selling and buying of the property, but it is also important in the process of acquiring a loan. The encumbrance certificate is an important document that shows the transactional history of the property for a period of 12-15 years.