A Complete Guide: Registration Required to Sell Property
Thinking about selling your place in Bangalore? Awesome choice! At Agarwal Estates, we've got your back as one of the top real estate teams in the city. We're here to walk you through the whole property registration process you need to do before selling. Trust us, it's all about making sure everything goes super smooth without any pesky legal headaches down the road. Let's make this selling journey a breeze together!
Let’s Understand Property Registration a Little Better
So, property registration is basically like officially letting the government know, "Hey, I bought or transferred this property!" It's all about making sure everything's legit by checking out the title deed and the property's ownership history. In India, it's a must-do thing before you sell or pass on a property to someone else, so it’s important to keep it by the book!
Why Do You Need to Register Your Property Before Selling?
If you're thinking about selling your place in Bangalore, here are a bunch of good reasons to get it officially registered first. Registering your property –
-
Establishes Ownership: Registration provides legal proof establishing ownership of the property. This prevents future claims from old owners.
- Compliance with Tax Laws: You may be required to show property registration details for income tax purposes.
- Ensures a Smooth Sales Transaction: Registration papers help verify the ownership history to the buyer eliminating doubt or fraud.
- Access to Credit: Banks may request your registration papers before sanctioning loans against the property's value.
- Give You Legal Protection: Registration secures the property against potential legal disputes or claims even after you sell it off.
Types of Registrations You Might Want to Know About
There are two main types of registrations required before you sell a property
- Individual Property Registration: This establishes you as the lawful owner in the land revenue records. It requires submitting the original title deed and previous deeds tracing ownership history.
- Project or Society Registration: Apartments, villas or plots that are part of a larger project require society registration along with individual property papers. The Society registration applies commonly for such planned constructions.
And the Documents You’ll be Needing
This can be a quick checklist for you to register your property in Bangalore before selling:
- Original sale deed/title document showing previous ownership trail
- Records of payment of stamp duty and registration fees on purchase
- Updated tax-paid receipts and utility bills (electricity, water, etc)
- Aadhaar card copy
- Indemnity bond on stamp paper for lost documents if applicable
- Sanctioned building plan
- RTC- Rights and Tenancy corps
- Registered Development Agreement (if the property is a joint property)
- Encumbrance Certificate
- Copies of all previous agreements
- Sale Agreement
- Conversion order
- Absolute sale deed in present seller’s name
- Khata certificates
- Occupancy/possession certificate from builder
A Quick Walk Through the Property Registration Process
Let's walk through the process of registering your property together with these easy-to-follow steps:
- Verify Document Authenticity: Ensure all property documents are valid without discrepancies before applying for registration.
- Online Application: Visit the sub-registrar's website to book an appointment and submit copies of documents online for verification.
- Physical Verification: On the scheduled date and time, visit the registration office with original documents for verification.
- Document Submission: Submit the paperwork along with the registration fee calculated by the market value of the property. Receive an acknowledgment slip.
- Registration Completion: The registration process gets completed with relevant changes reflected in the land registry against your property.
Register Now for a Smooth Property Sale
We hope this guide gives you clarity on the property registration required before you attempt selling in Bangalore. As an established real estate company with expertise spanning over a decade, Agarwal Estates is here to provide end-to-end assistance with your property papers. Our strong legal team shall ensure seamless registration enabling you to sell your asset securely and conveniently. Contact Us today to get started!
