Document should be correctly stamped as per the Stamp Duty Ready Reckoner so as to confirm that proper stamp duty has been paid. Stamp Duty Ready Reckoner is a public document and is available for inspection at sub-registrar’s office, it is easily available in the market in any law book shop.
For registering documents relating to property, one should go to their respective registration office along with, original document. The document must be printed or typed on both side and in black colour.
Apart from a properly executed and fully stamp duty paid document which is to be registered following other documents are also required before registration procedure is initiated.
(1) If the land belongs to Government or Semi-government body or to Charitable trust, the No Objection Certificate of such Government or Semi-government body or of Charity Commissioner. (This requirement is struck down by the Hon. Supreme Court, however this document is still asked under some pretext or the other.)
(2) Property Card of the Land on which the property is situated. This requirement is irrespective of whether land is sold or building is being sold or any part of the building is being sold and also irrespective of whether the seller of property is recorded as owner on property card or not. In other words, even flat owners are expected to produce this paper at the time of registration.
(3) If property sold/purchased is in old building and benefit of depreciation is claimed on Market value then photocopy of any one of the following documents is to be produced as a proof of old construction.
(a) Municipal assessment bill of the building having noting of first day of assessment OR
(b) Building Completion certificate OR
(c) Building Occupation Certificate
It is better to get the document adjudicated in case building is very old and proper depreciation is not given by the sub-registrar.
(4) Original stamp duty payment challan.
(5) One should go along with two witnesses along with their photographs, identification and residence proofs like pan card, ration card, driving licence etc.
(6) Photocopy of Commencement Certificate or Completion Certificate or Occupation Certificate or I.O.D issued by the Municipal Corporation is required to prove that the Building is an authorized structure. (This requirement is struck down by the Hon. Supreme Court, however this document is still asked under some pretext or the other.)
(7) Registration fees is payable e-SBTR/GRAS and Computer Service charges is to be paid online at IGR Portal.
(8) Mentioning of Income Tax PAN is mandatory in all case of sale / purchase document of value above Rs.5,00,000. Those who do not have PAN must file Form 60 along with documents.
(9) For property value above Rs.30,00,000 an additional input form is to be filled so that the sub-registrar can comply with formalities of All India Return under Income Tax Act.
(The writer is a valuer of real estate and co-author of Stamp Duty Ready Reckoner)
