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FAQ

 

Can a Power of attorney be issued to someone else to register the document in case of being out of country?

Yes, the Power of Attorney Draft can be signed and attested by the Indian Consulate/ Indian Embassy/or local notary.

 

When and where should a document be registered?

A document is registered with a sub-registrar appointed by the State Government, under the Indian Registration Act, 1908.

 

What are the documents needed while doing a purchase/sell In case of flat / constructed of property?

  Blue print of the plan from the builder

  • Commencement certificate
  • Completion certificate
  • Permission for Non agriculture use of land.
  • If land is originally agricultural, permission from revenue authority is needed. F) 7/12 extract in case of land property
  • Previous sale deeds in case of resale
  • Builder's No objection certificate

 

What is Stamp Duty and who is liable to pay the Stamp Duty, the purchaser or the Developer?

It is a tax, same as sales tax and income tax collected by the government, Stamp Duty must be paid in full and on time. The liability of paying stamp duty is that of the buyer unless there is an agreement to the contrary. Section 30, of Bombay Stamp Act, 1958 states the liability for payment of stamp duty.

 

Who is the appropriate authority for knowing the market value of the property?

The Sub-Registrar of the area, in whose jurisdiction the property is located, is the appropriate authority for knowing the market value of the property.

 

What is meant by valuation of property?

The valuation process evaluates the market value of the property. This evaluation depends on different factors such as type of property, quality of construction, its location, the local infrastructure available, and maintenance.

 

What is a Sale Deed?

It is a document by which the seller transfers his right to the purchaser, who, in turn, acquires an absolute ownership of the property.

 

What is meant by Carpet, Built-Up and Super Built-Up Area?

It is the actual used area of an apartment/office unit/showroom etc. The Built-up Area apart from the Carpet Area takes into account the thickness of the internal and outer walls and also the area of the balcony. Super built up is meant by Super Built Up Area is the built up area plus proportionate area of common areas such as the lobby, lifts shaft, stairs, etc.