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Friday, April 3, 2009

Registration & Attorneys

Property Registration in India ensures the ownership rights to the person in whose name the property is registered. The entire process of land registry or house registry can be quite a nuisance if you do not have a real estate attorney briefing you about the legal formalities and documentation procedures to be followed. You will find many private service lawyers or government attorneys who can advice you on the legal matters. One place to get info on these would be our website Indiahousing.com where we give you listings of top home registration attorneys in India and other would be the registration and attorneys directory available at the local registry and revenue office.

All kinds of property registration and firm registration in India are done at the Sub Registrars office that also holds all records of any previously registered property in India .

House Registration Process in India

The exact process includes 6 steps:

Step 1: Search the Property Registration

The property location, legal ownership document, date of purchase of the title, property transfer and inheritance issues, if transferred the legal authority of the transferee, clearance certificate from urban land ceilings authorities, payment of all dues like property taxes, electricity and water bills and any previous alterations in the property registration are the points that require careful scanning. This entire process can cost up to Rs. 10,000 and take 5-7 days to complete.

Step 2: House Registration Agreement

This process takes place at the Local Stamp Duty Office and takes around 7 days to complete. The fee involved is Rs. 100.

Step 3: Preparation of Property Sale Deed

This is done by an authorized house registration attorney on behalf of the purchaser. The final deed is printed out on a green paper with stamp duty stamp affixed on it. This involves a fee of 1% of the property value and might take 7 days again.

Step 4: Final Registration

The house registry or land registry is then stamped, executed, and finally registered in the presence of seller, buyer and two witnesses at the office of the SUB Registrar of Assurances at 5% market value of the property as Stamp Duty. This process takes just 2 days to complete.

Step 5: Submission of Documents

The completed home registry is then submitted to the Reader of the Sub Registrar of Assurances for scrutiny. Then at the payment of 1% of the transaction value or Rs. 30,000 whichever is less, the documents are presented before the Sub Registrar. The seller then hands over possession of the property to the buyer. The documents are handed over to the buyer within 30 minutes of submission of the payments receipt.

Step 6: Mutation of The Title of The Property

The purchaser now has to apply to the local Municipal Authority to get the title of the concerned property mutated in his favor with all the relevant documents that your Real estate attorney would guide you about. The Municipal Authority then assigns the property value for levying property tax and then issue a letter of mutation in favor of the purchaser.

Here is a list of sites to help you finalize all the necessary documents. The sites are listed to assist you in all matters relating house registration and documentation.

We are a virtual law firm spread throughout India with associates all over the world. With over 275 associates in 46 Indian Cities and over 40 law firms in 21 countries worldwide we offer legal services much beyond any other legal service in India.

Website: www.helplinelaw.com

Lex Infotax (India) Pvt. Ltd
Lex Infotax (India) Pvt. Ltd. is a company with unmatched resources to provide consultancy services by highly qualified and experienced professionals consisting of Lawyers and Chartered Accountants.

The Company's clients are spread over various countries like U.S.A., Canada, U.K., Japan, Indonesia and the Gulf countries etc.

Website: www.laws4india.com

Seth Associates Advocates & Legal Consultants
Seth Associates is an established Law Firm that provides a spectrum of legal services to its domestic and international clients and is well known for its expertise in Real Estate & Municipal Laws, besides other practice areas. The Firm has a dedicated team of professionals including lawyers, technical experts, chartered accountants and consultants, and includes lawyers from many parts of the Country and abroad.

Website: www.sethassociates.com

B.M. V. Kini & Co.
A Full Service Law Firm offering services to large domestic and international clientele in variety of areas like Property, Real Estate, Registration, etc.having offices at Mumbai, Delhi, Ahmdebad, Pune, Allahbad and Bangalore.

Website: www.mvkini.com

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