Sale Deed and its Registration – Step by Step Process
Sale deed is a legal document evidencing that the sale is complete. It contains details of the buyer, seller, area, location of the property, and consideration details. The sale deed has to be registered with the sub-registrar under whose jurisdiction the property situates but before registration make sure that full consideration is paid. Only registered sale deed has legal value in the eye of law. Section 54 of the Transfer of Property Act, 1885. define “sales” that means the transfer of property or transfer of ownership from the seller to the buyer for the consideration of money paid, partly paid, or promised to pay.
Process of registration of sale deed:
Step 1: Preparation
You must pay the total consideration amount as per the agreement to a sale before registration of the sale deed. Next thing you should remember that there should not be any arrears due on a property, such as previous loans, house tax, society dues, etc. If there are such dues left, then the registrar can refuse to register sale deed.
Step 2: Calculation of Stamp Duty
Stamp duty is payable on the circle rate or actual market value whichever is higher. Stamp duty depends upon on state. In Delhi, stamp duty is 6% for male, 4% for female, and 5% for joint ownership i.e. where the property is purchased jointly in the name of male and female. Along with stamp duty, you need to pay 1% for the registration charges.
Step 3: Payment of Stamp Duty
You can visit the nearest SHCIL/Bank Authorized Collection Centre, pay stamp duty there, and provide your necessary details. SHCIL/Bank Authorized Collection Centre will issue stamp paper. A list of SHCIL/Bank Authorized Collection Centre is available on https://www.shcilestamp.com/.
You can also Purchase stamp paper for the required amount from the Authorized Stamp Vendor in your area. Visit https://www.shcilestamp.com/ to get a list of Authorized Stamp Vendors.
Step 4: Draft and Print Deed
Draft Sale Deed by mentioning buyer, seller and payment details, terms of sale etc. The sale deed should not be conditional and should be drafted in a legal manner.
Step 5: Registration before Sub-Registrar Office
Take an appointment for the nearest sub-registrar for presentation and appearance before the sub-registrar to get the Sale Deed registered.
You can take an appointment online also only for those states which provide an e-stamping facility. For Delhi visit, https://srams.delhi.gov.in/ select your area then click on the yes button if your documents are complete. Enter the e-stamp number and verify your e-stamp number. After verification, you will receive a message in which details of the appointment are provided. On the appointment date, the buyer and seller must be present at the time of registration along with two witnesses. The buyer and seller have to sign each page and witnesses have to sign only a last page. Buyer and seller fingerprints will also be taken at the time of registration.
Step 6: Collection of Registered Sale Deed
Collect token slip after signing the sale deed in the sub-registrar office. Token slip is used for future references and while collecting the original registered sale deed. Original registered sale deed can be collected in 15-20 days after registration. In case of a loan, the bank will directly collect original registered deed from the sub-registrar office.
Documents Required
Duplicate copy of the Sale Deed that needs to be registered; Two passport size photographs of the buyer and seller each; ID proof such as Aadhaar card, Voter’s ID card of all the parties; copy of the computerised House Tax ID; PAN Card of both seller and the buyer, Copy of latest electricity bill; Email ID and Phone Numbers of the Buyer and the Seller; Stamp paper and registration fees receipt.
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