Registering Property in Jaipur, India
STANDARDIZED PROPERTYProperty value: 1,590,262
City: Jaipur
Registration Requirements:
| Procedure 1. | Conduct a search in the office of Sub-Registrar and obtain a non-encumbrance certificate |
| Time to complete: | 3 days |
| Cost to complete: | INR 2100 |
| Comment: | The purchaser should take search of the property in the Registry and the Revenue Office. While investigating the title it should be verified (1) that the "Patta" legal ownership document, is in the name of the Owner, issued by the Revenue Department under the Seal of the Tahsildar, (2) that the Encumbrance Certificate (EC) for the preceding 31 years (preferably) shows no mortgage or other encumbrance as still existing on the date of purchase, (3) the property is transferable and heritable, (4) the transferor is competent and/or authorized to transfer the property, (5) the transferee is qualified to be a transferee, (6) the object or consideration for the transfer is lawful, (7) the transfer has been made and completed in the manner prescribed by law. Also, all papers with regard to payment of taxes, the electricity bills and water bills need to be checked. Usually the seller will furnish receipts to the buyer, as well as tax receipts on property taxes. It is common practice that the lawyer issues the non-encumbrance certificate after doing the search on behalf of the parties. In Jaipur, there is a lower volume of records than in other cities and therefore this step takes less time. In addition, some records are computerized. |
| Procedure 2. | Obtain Stamp Paper after payment of stamp duty |
| Time to complete: | 5 days |
| Cost to complete: | INR 1,000 + 8 % property value (stamp duty) |
| Comment: | Stamp paper is to be purchased from the treasury authorized vendors by way of cash, bank draft or cheque. The sale agreement will then be embossed on such stamp paper. |
| Procedure 3. | Lawyer prepares Final Sale Deed and Transfer Deed on Stamp Papers |
| Time to complete: | 3 days |
| Cost to complete: | INR 2500 |
| Comment: | It is not mandatory for a lawyer to draft the sale deed/transfer deed, though it is common practice for the parties to involve lawyers in the transfer process. |
| Procedure 4. | Submit documents and receipts with the office of the Sub Registrar for registration |
| Time to complete: | 17 days |
| Cost to complete: | INR 2,500 + INR 200 + 1% of property value (registration fee) |
| Comment: |
The deed for registration is presented before the in charge of Registration who sits in the office of the Collector. On Presentation the same is summarily checked and the documents/annexes are counted. The sub-registrar checks the stamp duty as per valuation and orders for depositing the Registration charges/fees along with execution fee. The areas of the District/City are specified for taking valuation of the locality as per pre-existing schedule and if the valuation of the same is below the same then sub-registrar inspects the site for verification of rate of the area and if find below the specified rates then additional stamp duty is demanded. If the sub-registrar feels that the stamp duty is less, then he fixes the day/time for inspection of site. This may take three to five days. Prior to 2005, Jaipur was divided into different zones and the registration of the property of a particular zone could only be done in the office specified for that zone. However, the same has been changed from the year 2005 and property situated anywhere in Jaipur can be registered at any of the zonal offices situated in Jaipur. However, after the registration, the office where the registration has been done sends the necessary documents to the zonal office in which the property is situated. If that particular zonal office has any queries/clarifications, an inspection might be carried out. It is difficult to give a specific figure on the number of inspections. Documents needed: The respective authorized signatories of the Seller and Purchaser are required to be present along with two witnesses at the time of Registration Documents which are required to be presented are: 1. Sale agreement to be registered (in duplicate) 2. Two Passport size photographs of the authorized signatories of both parties. 3. Photo - identification of each party and witnesses i.e., Voters' Identity Card, Passport, identity Card issued by Govt. of India, Semi govt. and Autonomous bodies or identification by a Gazetted officer. 4. Certified True copy of the Resolution of the Board of Directors' of both Seller and Purchaser. 5. Certified True copies of Certificate of incorporation of both Seller and Purchaser. The documents are submitted to the Reader of the Sub-Registrar, Assurances for scrutiny. After scrutiny, the Reader indicates the Registration fee required, on the document itself. The due registration fee is to be deposited with the Cashier against a receipt. After payment of the registration fees, the document is copied into the register book, copies of the document are pasted onto 2 indexes one titled name and property, and the other titled accounts and reports. The document is delivered on the production of the receipt issued by the cashier in respect of the document at the time of presentation. |
| Procedure 5. | Apply to Municipality for mutation of the title of the property |
| Time to complete: | 28 days |
| Cost to complete: | INR 5,500 |
| Comment: |
The authorized signatory has to submit the duly signed application along with affidavit, indemnity bond and a certified/notarized copy of the registered title deed. After assessment of the request for mutation, the Municipal Authority settles the rate value for levying tax on property and then issues a letter of mutation in favor of the purchaser certifying the fact that the property has since been mutated in the Purchaser's name. |