Bangalore Property Registration
|Bangalore Property Registration refers to the registration of document in case of Sale, Purchase or Lease of Property. If you acquire any property in Bangalore through purchase, gift or lease. You have to register the property by verifying the documents under department of stamp and registration of Government of Karnataka. According to Registration act of 1908, the registration of all types of property is compulsory.
Documents Required for Registration of Property in Bangalore
The above documents can be presented in any sub registrar office for registration with in 4 month from the date of execution.
- Sale deed of the property which has to be registered.
- Other non-testamentary documents.
- Receipt of payment on account of the creation, declaration, assignment, limitation or extension of any such right, title or interest.
- Leases of immovable property from year or for any term exceeding one year.
- The documents containing contracts to transfer for consideration of any immovable property under the section 53A of the Transfer of Property Act, 1882.
Online Property Registration in Bangalore
The people of Bangalore will soon be able to register their property documents online. Instead of visiting the sub registrar the process will become possible with just few clicks. The new online system is expected to generate more revenue in terms of Registration fees. On August 15 2011, the board will launch online registration system for 5 sub-registrar offices in Bangalore on an experimental basis. It will be further extended for other offices in Bangalore as well.
With the new system the residents of particular area will be able register their documents in any area of choice.
Bangalore Property Registration Stamp Duty
The over all cost of Registration depends upon Market value of Property
|Market Value||Stamp Duty Rates|
|Up to Rs 5 lacs||4%|
|5 lacs to 15 lacs||Rs 20000 + 6 % for amount in excess of Rs 5 lacs|
|More than 15 Lacs||Rs 80000 + 8 % for amount in excess of Rs 15 lacs||
Bangalore Property Registration Process
1. First of all you need an agreement to transfer the property rights by the transferor and the transferee. This will cover the details of the property, time duration, amount etc.
2. The actual deed of transfer is prepared which is executed by both the parties and attested by 2 witnesses.
3. The sale deed along with stamp duty payment slip is to be presented in the sub registrar office with in four month from the date of execution.
4. Cost of registration and other charges are to be paid.
5. The Registration authority verifies the documents and if everything is right the documents are registered under the appropriate statutory registers.
For more information on Bangalore Property Registration Process, Registration Rates, Fees, Charges and other details keep browsing our website indiapropertyhut.in
Last Updated On: 2012/02/29