Registration means recording of the contents of a document (or the title of ownership of the property) with a registering officer (or any specified government department/officer).
As per section 17 of the Registration Act, 1908 the documents sale and purchase of immovable properties are required to be registered necessarily. Under Section 2(6) of the Registration Act, 1908 the term 'immovable property' includes: "Land, buildings, hereditary allowances, rights to ways, lights, fisheries or any other benefit to arise out of land, and things attached to the earth, or permanently fastened to any thing which is attached to the earth, but not standing timber, growing crops nor grass."
Why should you register a property?
Other than registering a property being a statutory requirement, by registration, a transaction of immovable property becomes permanent public record where you become a lawful (and largely un-dispute-able) title owner of the property. Moreover as per the Transfer of Property Act, the right or title or interest in a property can be acquired only if the deed is registered. Hence only on registration you actually gain the ownership of the property. This greatly reduces risk of fraud and helps solve disputes easily, in addition to creating and maintaining an up-to-date public record.
What is the value of stamp duty payable in respect of sale of an immovable property?
Stamp duty is payable on the consideration amount mentioned in the sale deed or on the market value of the property or as per Government valuation as per the rate of stamp duty fixed by the State Government.
How can stamp duty and registration fees be paid?
Stamp duty can be paid by a pay order/demand draft and registration charges in cash or pay order/demand draft in favor of the concerned jurisdictional sub-registrar.
Is the buyer/seller's presence necessary in the Sub-Registrar office? Is it possible to register a document at a person?s residence?
Under Sections 31 of the Act, a provision has been made authorizing the Registering Officer, on special cause being shown ( for instance if the person is physically handicapped) to attend at the residence of any person desiring to present a document for registration provided the Registering Officer is satisfied about the special cause shown is sufficient. The Registering Officer will come to the buyer/seller for completing registration formalities.
Can a document relating to an immovable property in India be executed out of India? If so, can it then be registered in India?
Yes, a document relating to an immovable property can be executed out of India and later it can be presented for registration in India. As per Section 26 of The Registration Act, 1908 if a document purporting to have been executed by all or any of the parties out of India is presented for registration within the prescribed time, the Registering Officer may, on payment of proper registration fee, accept such document for registration if he is satisfied that:
(a) the instrument was executed out of India.
(b) the instrument has been presented for registration within four months after its arrival in India.