Are you planning to buy a property in Delhi but wondering how to get it registered? If yes, then this article has got you covered with detailed information on property registration in Delhi. The term "Property Registration" refers to the process of verification and registration of legal real estate documents in the registrar's office, made under the provision of the Indian Registration Act of 1908. Getting a property registered is very important to claim ownership of the property legally. Moreover, it is highly helpful in the future for further property-related transactions like loans against property or resale.
The property registration in Delhi comes under the Indian Registration Act of 1908. This process legally handover the property rights to the owner. In Delhi, this procedure is done at the sub-registrar offices, which have all the documentation details of previously registered properties. Therefore, before registering property in Delhi, one must have complete knowledge of the legal formalities and mandatory documentation.
Now, let's start with the article and get a complete understanding of property registration in Delhi.
Is Property Registration in Delhi Compulsory?
The first thing that most people are confused about is whether or not it is mandatory to get a property registered in Delhi! Well, the answer is YES. In simple terms, it means that all the transactions relating to the sale of the property must be registered, as no immovable property can be bought just for Rs. 100. Moreover, all the transactions under the gift of an immovable property beside a lease for more than 12 months have to be duly registered.
In some scenarios, if a person cannot visit the office of the sub-registrar, the sub-registrar may order any of its experts to accept the documents for registration at the house of the individual. Here, immovable property is all about buildings, land, and any rights attached to these properties.
Documents required for registration of property in Delhi
For registering property in Delhi, you need to have a list of documents. In addition to the identification papers, bank documents, IT returns reports, and other financial documents are required to complete the process of property registration successfully.
To know more, have a look at the list of documents below:
Property card copy
A No-Objection Certificate, known as NOC from the society. This document claims that society does not have an objection to the sale, transfer, lease, or gift of the property.
A letter from the society, stating all the crucial details of the building involving a year of construction, number of floors, built-up space, etc.
Photocopy of the recent municipality bill
The process will also need stamped and registered transfer deeds in case the property is purchased as a secondary registration and not directly from the developer
Original ID proof of the concerned parties, i.e., purchaser, seller, and witness
If the transaction is for more than Rs. 50,000, Form 60 or self-attested copy of Pan Card
Essentials to know about property registration in Delhi
1. Registrar and registration fee
To complete the property registration process in Delhi, you have to pay the property registration fees. The procedure starts with making an appointment with the Sub-Registrar of Assurances. Simultaneously, you have to arrange many fees that account for 2-3% of the property's market value. It's important to note that you need to pay the fees before the property registration. Later, you need to submit the demand draft or payment order for the amount you need to pay as a registration fee once you are allotted the token number.
2. Witness
Even if you opt for online registration of property in Delhi, you must know that your witnesses still play an important role in the process. The witness must be present during the entire process and carry valid ID proof along with them. The ID proof can involve a Voter ID, passport, or driving license. In general, witnesses must be the people whom you know well. For the property registration process in Delhi, you need to bring at least 2 witnesses, and they are required to sign in the presence of the registrar.
3. Adjunction
Once you are done with paying the property registration charges in Delhi, the process of determining the market value of the land starts. This determined value helps you in choosing the stamp duty that has to be paid for the property. In the case of old real estate, adjunction plays an important role because the registrar's office is not likely to have all the updated depreciation details of an old property. The validity of the adjunction is approximately 6 months, but it must still be done within a month if the document is signed. Moreover, the dealy leads to unavoidable interest charges.
4. Formalities
Lastly, after all the formalities are done, the document is returned to you with all the Delhi property registration details. You can either collect the document yourself or give someone the authority to collect it on your behalf. The documents are most likely to be managed by your financial institution or bank if you have taken a home loan. However, you can also collect the documents on your own and give them to your bank. The entire property registration process in Delhi takes around 15 days, and you will get the documents only if you provide the receipt that was issued during the registration.
How to search for registered deeds online in Delhi?
Property buyers can also search for registered deeds of the property in Delhi online for proper due diligence. Follow the steps mentioned below to find the registered deed online:
Step 1: Go to the DORIS portal and tap on the "Search Registered Deed" option.
Step 2: Now, you will be redirected to the new page where you will have to fill in the details like area name, registration number, SRO office, book number, and registration year.
Step 3: Finally, tap on the "Search" button, and the results will be displayed on the screen.
This is all about the registration of property in Delhi! If you haven't got your property registered in Delhi, make sure to do it as soon as possible because it is mandatory to get a property registered under the Indian Registration Act of 1908. If you still have any doubts relating to the topic, feel free to ask or comment below. Also, if you don't own a house, we at Clicbrcis can help you find your dream home in Delhi. Contact us now to know more!
Also Read: Online Property Registration Details and Documents Required