Property Registration
Property Registration in Sub-Register office is one of the Critical legal services in Chennai. Property Attorneys in Chennai law forum is one of the Top 10 Advocates in India for Property Registration services. Drafting of Deeds is our Property Lawyer's Primary legal services. The registration or transfer of property in Tamil Nadu is managed by the Registration Department as per the Tamil Nadu Registrations Act. In this article, we look at the Tamil Nadu property registration charges and procedure in detail.
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Property Registration Charges In Tamil Nadu
PROPERTY REGISTRATION Charges
In Tamil Nadu, the property registration charges are stamp duty of 7%
on the property value in market and registration fee of 1% of the
Property value. In case of property registration on account of exchange
of property, stamp duty at 7% on the market value of the higher value
property and registration fee of 1% of the value of the higher
value property.
The procedure of Property Registration in Tamil Nadu.
The following process is must to Register a property in Tamil Nadu.
Property Due Diligence
Before the price negotiation of a property and/or entering into a sale agreement of a property, the purchaser should have thorough property verification of due-diligence. The property laws and procedures are very tough and complicated. One must engage a qualified Attorney who specializes in property transactions from the relevant area to fulfill smooth completion of the transaction process. ( Learn more about process of getting encumbrance certificate (EC) in Tamil Nadu and checklist for purchase of properties).Purchase of Stamp Papers
After completion of a thorough property due diligence and you can a decision to go ahead with the purchase. Nextly, You must buy the stamp paper based on the Charges of property registration. Stamp paper vendors will sell stamp papers at the rate of face value of the stamp. In addition to vendors of stamp paper, stamp papers are also being issued by The Sub Registrars, Treasuries, as well as Assistant Superintendent of Stamps, Chennai. Further, one can buy stamp paper at the “Stamp Sales Depot” at No: 27, Rajaji Salai, Chennai, Tamil Nadu, Pincode -600001.Drafting of Sale Deed
After stamp paper purchase, It is best to engage a professional lawyer must draft the sale deed. Sale deed can be prepared by: Solicitors or Attorneys Licensed Document Writers Chartered Accountants who obtained Document Writing License It very essential to choose a Legal professional with Sufficient experience for property purchase to get a legal opinion and ensure that there are no dispute in the sale deed.Property Registration
Registration of Properties in Tamil Nadu must be fulfilled within 4 months of execution of the sale deed. A penalty will be imposed for Delay in registration of property documents. The penalty is as below: 25% of the registration fee upto 1 week 75% of the registration fee Up to one month 100% of the registration fee Up to 4 Months.The Registration of a property must be completed at the Sub-Registrar’s office under the same jurisdiction of the property is located or in the District Registrar’s office of that Registration District. It is a must to note that property registration done outside the state is not a valid one / null and void. The documents which are Registered will be returned by the Registrar on the same day or within three days.
Documents needed for Property Registration
For completion of a property registration, the following documents should be submitted before the Registrar. Duty stamped signed and executed document.The claimant of the sale Document should also sign in the sale deed and must appear before the registering officer for Sale deed registration.
Patta transfer application enclosed with court fee PAN Card / Number Patta pass book ID card for execute and claimant (for all deeds)
For eg : Aadhar card, Driving licence, Passport, etc., ID card for witnesses (for power deed only)
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