What is Sales Deed?
The sale deed is a type of agreement between seller and purchaser of property or sale items
How to prepare a sale deed?/ how to write a sale deed
SALE
Stamp duty is a kind of fee collected by the state government for properties under its jurisdiction. The stamp duty applies to several kinds of properties such as agricultural, independent houses, flats, townships, commercial units, etc. The percentage of stamp duty that levy varies in different states and the rates will be reviewed in January every year. The stamp duty payable has a calculation as a percentage of the property value. In certain states, the stamp duty differs for men and women and reckon based on the gender of the person in whose name the property has registration. This aim has encouraging ownership of property by women. For women in Delhi, the duty is at 4% and for men, the Delhi government charges 6%. Additionally, for joint ownership of property, this rate is at 5%
What are the Documents required for Property Registration in Delhi
• Two passport size photographs of both copies of the sale deed of buyer and seller
• E-Registration fee Receipt of Registration fee with undertaking / Affidavit
• E-stamp paper of requisite value
• If the transaction is for more than ₹5 lacs, a self-attested copy of Pan Card or Form 60
• Original ID Proof of the concerned Parties (Seller, Purchaser, and Witness) like voter card, pan card. Passport, Driving License, Aadhar Card and in case of companies, power of attorney/board resolution
Registration charges in Delhi
According to Section 17 of the Indian Registration Act, 1908, it is mandatory to register the documents regarding the transfer, sale, or lease of property. Over and above the stamp value, registration charges have to be paid by the purchaser of the property. This has reckoned at the rate of 1% of the market value or the value that agree between the buyer and seller, whichever is higher.
What documents should you look at, before buying the property?
1-The title deed of the seller
2-Encumbrance certificate
3-Building plan approval from municipal authorities
4-Tax dues
5-Registration of Property in Delhi
