The documents are registered for the purpose of conservation of evidence, assurance of title, publicity of documents and prevention of fraud. Also, registration helps an intending purchaser to know if the title deeds of a particular property have been deposited with any person or a financial institution for the purpose of obtaining an advance against the security of that property.
Where the registration of document is done?
As per Section 28 and 29 of the Registration Act the document should be presented for registration at the office of the Sub-Registrar of Assurances within the jurisdiction of the concerned Sub-Registrar.
What stamp duty is payable to register an immovable property in Bangalore?
In B.B.M.R. areas, the stamp duty payable is either 8.4 percent of the market value of the property or the sale consideration shown in the document, whichever is higher. In places other than B.B.M.R areas, it is 8.5 percent.
What are the documents to be produced at the time of registration of a site or building?
The following documents/records must be produced at the time of registration of sale of a site or building. An affidavit stating that the transaction is not violative of the provisions of Section 22-A of Indian Registration Act, extract of the assessment Register for the purpose of valuation of the property (Form No. 19 in Municipal Area or Form 9 or 10 in case of Panchayat area ), Corporation Katha.
Form No. 1 prescribed in Karnataka Stamp (Prevention of undervaluation) Rules. Permanent account number issued by the Income Tax Department or declaration in Form No. 60 or 61 if the value of the property to be registered exceeds Rs.5.00 lakhs where payment is made completely or partially in cash.
What is the time limit for presenting a copy of the decree for registration?
The copy of the decree or order may be presented for registration within four months from the date on which the decree or order was made. If the decree is appealable, it may be presented for registration within four months from the day on which it becomes final.
Is there is any time limit of presenting will for registration?
There is no time limit for presenting the will for registration.All other non-testamentary documents have to be presented within four months from the date of execution and there after within another four months on payment of fine. As per Section 27 of Indian Registration Act 1908, the will may be presented for registration or for deposit at any time, without any time stipulation.
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