Apartment in Bangalore
Apartment in Bangalore
Blog Article
The Process of Registering Your Apartment in Bangalore
Introduction: The Importance of Property Registration
One of the final steps in purchasing apartments in Bangalore for sale is the property registration process. This legally binding procedure transfers the ownership of the apartment from the seller to the buyer and ensures proper documentation of all the property rights.
Agreement of Sale
Before the registration of apartments in Bangalore for sale, both parties need to sign an Agreement of Sale. This document contains information such as the agreed price, payment schedule, and dates when possession is given, and it forms the basis of registration.
Payment of Stamp Duty
The buyer is required to pay stamp duty on the property as per the value mentioned in the sale deed. The stamp duty is calculated based on the transaction value and must be paid before the registration process begins. The payment of stamp duty can be done online or at the sub-registrar’s office.
Property Registration
To complete the registration of apartments in Bangalore for sale, both the buyer and the seller must visit the local sub-registrar office. They must provide all the documents that would be required, such as the sale agreement, identity proof, and payment proof for stamp duty. The registrar will then record the sale in their system and issue a registered sale deed.
Possession of the Property
Once the registration is complete, the buyer is officially the owner of the property. At this stage, the buyer can take possession of the apartment and begin moving in. A registered sale deed provides evidence for ownership and can be used for any legal or monetary purpose in future.
A Crucial Step in Property Ownership
The registration of apartments in Bangalore for sale is a crucial step in transferring property ownership. It safeguards the rights of the buyer through legal protection, giving him peace of mind and security in the property transaction process. Report this page