Two passport-sized photographs, ID proof for the buyer, seller, and two witnesses, PAN cards, Certified exact copies Certificate of Incorporation (of the seller or buyer), and Copy of the most recent property register card to ensure no government ownership. Also, the municipal tax bill to identify year the property was built.
India has a unique system for property registrationThe Registration Act of 1908 governs. The seller and buyer must submit certain documents and pay fees and stamp duty to register property. India has a law that governs the transfer of immovable property.
You can execute a GPA (General power of attorney) for that person. It is important that POA be registered with a sub registrar.
Stamp Duty is the tax that is paid to legalize property. This tax is paid by home buyers. Tax incentives up to Rs 1.5 lakh can be claimed on new property purchases or constructions. These benefits are only available for one property that is occupied by the owner.
No. Neither you nor the relative will be liable to pay taxes in a case the transfer takes place through a gift deed
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It is Usually, the buyer pays with Regardless of any agreement, in the event of property exchange, the seller and buyer must share equally the stamp duty
Yes. However, the process and forms can vary depending on where the property is located.
Will: Registration is optionally It is a good idea to register a will in order to give it legal property status.
Officially, the sale of a residential property has been completed If the seller has paid the full consideration amount, registration has been completed and the buyer has taken possession of the property.