We all assume that once the land or property is chosen our job is done. But the real struggle begins after choosing the land you want to buy. Registration process can be tricky if you are not aware of what documents you need for registration. This blog will give a complete checklist of what you need to carry for your registration for new plot.
What is meant by land registration?
Land and property transactions are significant because they involve substantial amounts of money and require clear proof of ownership transfer from the seller to the buyer.
Land registration is essential because it records the transaction in the government database, ensuring that all property records are properly maintained. Whether buying or selling an immovable property, registration for new plot is mandatory, and specific documents must be prepared for this process.
These required documents can be complicated and overwhelming for someone without experience, making it advisable to seek legal consultation before proceeding.
Is it compulsory to have your land registered?
Under Section 17 of the Indian Registration Act of 1908, it is mandatory to register land or property for it to be legally bought or sold.
The buyer officially becomes the legal owner of the property once they pay the necessary stamp duty and registration fees and submit the required documents for registration for the new plot. These requirements may vary depending on the state, type, location, and structure of the property.
If buyers have any doubts or concerns about the process, they can consult a property lawyer for expert legal advice.
Why should you register for property in Coimbatore?
Validity of ownership:
Registered properties are legally recognized by the government, ensuring that the buyer’s ownership rights are secure and cannot be challenged.
Easy access to loans:
If you want to get a loan against your property, banks and financial institutions may request property registration documents. Having a registered property makes it easier to secure loans for purposes like construction or renovation.
Value of property:
Registered properties are more valuable in the market and attract more buyers. This can lead to better returns on your investment and more resale opportunities.
Legal protection:
Registered properties are in higher demand and attract more buyers, which can result in better profits and more chances to sell.
What are the documents you need to gather for property in Coimbatore?
Having all the documents need for registration ready will help you complete the property registration process without any hassle. If you are planning to buy a property in Coimbatore, here are the documents you will need for registration:
- Patta chitta (the actual property documents)
- Sale deed
- PAN card
- Encumbrance certificate
- Aadhaar card
- Identity proof of the buyer and the seller
- Property tax receipts
- Power of attorney
- NOC from authorities (if necessary)
- Two passport-sized pictures
What is the process of land registration in Coimbatore?
Property registration includes multiple steps to ensure a legal and hassle-free transaction. Here’s a simple step-by-step guide to the property registration process in Coimbatore:
Thorough property verification:
Before starting the registration process, it’s important to carefully verify the property. This means confirming the ownership, checking for any legal claims or debts on the property, and making sure all documents need for registration are complete. It’s a smart idea to visit the property in person before making your final decision.
Buying stamp paper:
After completing the property verification, the next step is to buy the necessary stamp papers. The stamp duty, which is paid to the government, is determined by the property’s value and its guideline value. Make sure to purchase the stamp papers from authorized vendors to guarantee their legitimacy.
In Tamil Nadu, the stamp duty is seven percent, and the registration fee is four percent of the property’s market value. Buyers will need to pay a total of about 11 percent of the property value for registration.
Draft the sale deed:
Once you have the stamp papers, the next step is to have the sale deed prepared by a lawyer. This legal document officially transfers the property ownership from the seller to the buyer. It includes important details such as the property description, sale price, and the terms and conditions of the sale.
Property registration
After the sale deed is prepared, it must be registered at the Sub-Registrar Office within four months. Both the buyer and the seller must be present during the registration of the new plot. The registration fee, which is based on the property’s value, is paid to the government. The process involves verifying documents and completing the sale deed.
Once the registration for new plot is done, the buyer becomes the official owner of the property. It is crucial to store all the registration documents safely for future use.
Important Takeaway:
Completing the land registration process in Tamil Nadu is more than just a formality – it’s a protection for your valuable asset. Proper and verified documentation is key to ensuring secure property transactions.
By following the official steps and seeking professional advice when needed, you can prevent future disputes, delays, or expensive legal issues. Thorough documentation and legal compliance are crucial. When done correctly, land registration in Tamil Nadu provides clarity, security, and peace of mind, giving you the confidence to invest and build a strong legal foundation for your future.
