Types / Modes Of Property Registration
There are two ways of acquisition :
(1) By the ACT OF PARTIES
(2) By the DECREE OFCOURT
(1) Registration Of Properties BY THE ACT OF PARTIES
Below mentioned are the ways through which a property may be transferred by the operation of law: -
1. By the way of PURCHASE / SALE
2. By the way of GIFT / TRUST
3. By the way of WILL
4. By the way of SETTLEMENT / ARRANGEMENT / EXCHANGE
5. By the way of PARTITION / INHERITANCE
6. By the way of DECREE OF THE COURT
7. By the way of RELEASE / RELINQUISH
8. By the way of CONVEYANCE
9. By the way of MORTGAGE / LEASE / PLEDGE / HYPOTHICATION
10. By the way of POWER OF ATTORNEY WITH SALE
(a) GPA (General Power Of Attorney)
(b) SPA (Special Power Of Attorney)
(1) Registration Of Properties BY THE DECREE OF COURT
Below mentioned are the ways or modes through which a property may be transferred by Court Orders : -
1. By the way of delivery of possession by the execution of the decree.
2. By the way of Attachment and Sale
3. By the way of Sale without attachment of property.
4. By the appointment of the Advocate Commissioner.
5. By the detention of the JDR (Judgement - Debtor)
6. By the decree of Disclosure and Sale (At the request of Creditors, A Decree may be passed by the court directing for the sale of property to repay the defaults and outstanding debts and loans of the Borrowersi.e Bank or any individual)
What are requirements for registration in Hyderabad
The below – mentioned are the mandatory checklist of the documents required for registration of property: -
1. The original document of the Scheduled Property (Sale Deed / Gift Deed / Partition Deed / Patta Passbook and Title Books/or Other) bearing signature of both the parties i.e. SELLER (Vendor) and PURCHASER (Vendee).
2. Map of the Scheduled Property exhibiting the property surrounding directions and admeasuring areas. (Has to be attached with Original Document)
3. Color Photo of the Front View of the Scheduled Property. (Has to be attached with Original Document)
4. Power of Attorney (GPA / SPA) in favour of the person executing the Sale Deed / Gift Deed. In case if Power of Attorney (GPA / SPA) is NRI then document has be attested by respective Indian Embassy which has to be validated by SRO.
5. Photo Copy of complete Link documents copies.
6. Section 32 A Form or Photo Form of authorized signatories (Where Passport size Photos Of executants / claimants and witnesses has to be affixed along with thumb impression.)
7. Proof of payment of Challan/DD comprising of Stamp Duty, Transfer Duty along with other Registration fee and user charges.
8. Both the Parties i.e SELLER (Vendor) and PURCHASER (Vendee) along with two witnesses.
9. Address and Identification Proof of SELLER (Vendor) and PURCHASER (Vendee) along with two witnesses. This can be suffice by their Original Aadhar / Driving Licence / Passport or Other government issued document which bears the photograph of the authorized signatories.
10. PAN Card of both the parities are mandatory.
11. Copy of the Latest Utility Bills Clearances (Water, Electricity and Property Tax).
12. Copy of the Court Decree or Orders.(If any attached to the Scheduled Property)
Who can “TRANSFER THE PROPERTY” and who “CANNOT TRANSFER THE PROPERTY”
Who CAN transfer the Property / Persons who CAN transfer the Property : -
As per The Transfer Of the Property Act, 1882 following person can transfer the property : -
1. Person is competent to transfer the property who is MAJOR (one who attains 18 Years of Age).
2. Person who is of Sound Mind.
3. Should not be disqualified by the Law to transfer the property.
Who CANNOT transfer the Property/ Persons who CANNOT transfer the Property : -
1. Person is competent to transfer the property who is MINOR (one who is below 18 Years of Age).
2. Person who is of UnSound Mind. (Insane , Mad , Lunatic)
3. Should not be disqualified by the Law to transfer the property.(Criminals, Terrorists etc.)
Which Property can be transferred and which property cannot be transferred.
Properties that CAN BE TRANSFERED:
Any property can be transferred which does not come in below mentioned category.(Properties that CANNOT BE TRANSFERED)
Properties that CANNOT BE TRANSFERED: -
1. Any property that is a government office.
2. Property of the MINOR cannot be transferred unless permission by Court.
3. Patta Lands allotted to backward tribals and schedule tribes.
4. Property allotted to Arm Forces Personals i.e Military, Airforce or Navy service officials.
5. Any property that has been prohibited for transfer under law. (Prohibition Of Transfer Act )
6. Any property that is under Easement, Mortgage ,Lease, Charge or Hypothecation.
7. Any property which is expected to be inherited or owned cannot be transferred on mere expectations and presumptions.
8. Any property which is transferred by fraudulent and ficticous owner by Impersonification or Impersonation pretending as the Real Owner of the property.
Cases and circumstances under which Property Registration / Transfer Of Property is Void and Invalid
A) Property which is under Court Litigation i.e under the pendency of the court cases.
In several cases where property is having a stay order and status quo order or injunctions (Temporary or Permanent Injunction) from the Courts, such property cannot be transferred to any one in any transaction whether Sale, Gift, Settlement or Release.
If under such circumstances where Court has put any kind of transfer on hold and if any person who enters in any transaction amounts to contempt and violation of the court order and such transfer is void and totally invalid which dismisses the ownership of the owner who transferred the property.
B) Impersonification or Impersonationpretending as the Real Owner of the property.
In light of the Section 43 of the Transfer of Property Act 1882, if a person pretends to the owner of the property of which he is not holding ownership and if he transfers the property to any person then he has impersonated the owner. This in such case the transfer of the property is void.
The Person who has done such act is said to “cheat by personation” and if he cheats by pretending to be the owner of the property then he is liable to be punished in Indian Penal Law under section 416.
C) Properties assigned or given to following persons cannot be transferred and if transferred then stands as null and void.
For the sake of upliftment of the society and backward sections the government allots piece of lands to following below mentioned persons and such properties can never be transferred by any mode of transfer : -
Property allotted by the government to the scheduled tribes.
Property belonging to the government (Public Offices).
What is Stamp Duty For Property Registration In Hyderabad
Stamp Duty is the government Fees of the registration to upload the sale transactions in the official records of the government, which always establishes and preserves the ownership of the purchaser. Registration charges mostly comprises of Stamp Duty, Transfer Duty and Registration Charges. Evading of the Registration Charges shall attract penalty. The procedures of registration are almost similar but the registration charges varies from state to state.
All the transactions of immovable property which are more than Rs. 100, the registration is compulsory as per the Section 17 of the Indian Registration Act 1902.
As per Section 54 of the Transfer of Property Act 1882, the sale of immovable property, the value of which is Rs 100 or more, should be registered.
It is very important that a stamp duty has to be paid to the government because : -
1. Payment Of stamp duty create the legal rights in favour of purchaser.
2. Payment of stamp duty will express authenticity of the ownership over the property. You will become official owner of the property in the eye of government.
3. A property stamp duty has to be paid to make the sale transaction valid and safeguards the interest over the property of the purchaser when ever any dispute arises before the court of law.
What is Mutation Of Property
Mutation of property is the process of upgrading and replacing the name of the present owner by the previous owner by the virtue of registration of the property in the government records / record of rights (ROR).
Mutation of the property exhibits the transfer of the property in name of the latest owner who has purchased the property from the previous owner and hence he is the peaceful possessor and absolute owner of the property.
Mutation is done after completion of the transanction by the virtue of Sale Deed / Gift Deed / Transfer Deed / Release Deed / Settlement Deed etc.
Successful Completion of Mutation can be cross check and is also reflected in Encumberance Certificate (EC) which can be obtained in Sub-Registration Office.(SRO)
What are Factors that determine Stamp Duty for property registration in Hyderabad.
A) Nature of the Property
Broadly divided in two types i.e. Agricultural and Non-Agricultural property. Furthermore, Non-Agricultural can be classified into Residential and Commercia l properties.
In case of Agricultural property, the factors that influence the stamp duty are the fertility and number of crop seasons.
In case of Non-Agricultural property, both the Residential and Commercial properties depends on the market value of the property. Market value certificate can be obtained from the Sub-Registrar Office (SRO) of the concerned area.
B) Location Of the Property
Location of the property is another important factor that determines the Stamp Duty. For example the areas that are surrounded by business locality then the Stamp Duty is bound to the higher.
Example : - Gohamahal is the commercial hub of the city in timber market hence its per square yard value is more higher than the lavish and luxuries residential area Banjara Hills.
On the contrary, the area which is suburbs, outskirts and area where standard of living is very low, such areas attract very low stamp duty and registration charges.