The Checklist for property registration in Hyderabad, Telangana
Before claiming possession of your new home, you have to register it in your name. To help ease this process, here are some pointers and a list of documents that must be verified for registering a property
It is highly important to stay alert and focused at the time of registration. Check the spelling of your name, address, amount and other details carefully. It is a good idea to have a legal expert or someone with experience accompany you for the registration of the property.
Nothing brings more joy than taking possession of your house after a long wait. The most crucial step at this stage is the registration of your property. It is one of the most important aspects of buying a home. Regardless of whether you plan to live in the house you are buying or not, it is important to remember these key stapes while making the purchase.
Ensure that all the essentials documents are ready at the time of property registration. Make sure you are in possession of the sale deed, necessary photos, personal identification and demand drafts (DD) for stamp duty and registration. You need to keep all your documents ready and if necessary, ask your lawyer to be present at the registration as she/he can make sure you don’t miss anything, Inquire with the developer about the required documents and have them verified and examined prior to the registration day. Seeking legal counsel is essential. Ensure that your property is valued as per the prevailing rates, for the purpose of stamp, which is to paid for registering the property tile and ownership in your name.
The PAN card is very important and often people forget to carry it at the time of registration. The identity is needed at the time of registration of your home. The PAN card is not only a form of identification but also needed while declaring your assets, which is done at the time of filing taxes. Since the purchase and sale of any immovable property should be brought to the notice of the income tax department for it to be legal, your PAN card becomes a mandatory document.
Verify the demand drafts
Verify the amounts written on the demand draft (DD), Don’t try to hasten the process; instead, take your time and thoroughly examine the papers. For the purpose of registration, a requisite fee has to be paid in the form of DDs. Ensure that the fee payable is appropriate and as stated by the authority. Also, the DD must be drawn in favor of the receiving authority, usually the registrar of the issuing authority.
Be involved in the process
It is highly important to stay alert and focused at the time of registration. Check the spelling of your name, address, amount, and other details carefully. It is a good idea to have a legal expert or someone with experience accompany you for the registration of the property.
Check before you sign
Check all documents carefully before you sign them. It is very important to clarify any doubts you might have. You are paying a large sum of money for the property and it is your right to ask questions and seek information. This checklist will help you stay aware and focused so that you don’t make any mistakes at the time of registering your property.
If you would like to know more about the property registration process or if you are interested in investing in open plots or to get free consultation and suggestions on real estate investments, feel free to contact us.