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Tata Capital > Blog > Loan for Home > How to do Registration of a New House?

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How to do Registration of a New House?

How to do Registration of a New House?

Under Section 17 of the Registration Act, all transactions pertaining to immovable properties whose value exceeds Rs. 100 have to be lawfully registered. Since no houses can be practically bought under Rs. 100, it is mandatory to register your new house. This registration, though, can be a complicated procedure involving a good deal of legalities that most people may find cumbersome. To assist you, we present a detailed guide to registering your new house.

Steps To Follow

Step 1: Make sure you have a proof of identity with you. Your Aadhar card or PAN card will work for this purpose.

Step 2: Find out the circle rate of the area your new house is located in. The circle rate is the minimum amount at which a real estate asset has to be registered. Compare the circle rate with the actual market rate of your house.

Step 3: Buy non-judicial stamp papers of the higher rate between the two.

Step 4: Pay the stamp duty to the Collector of Stamps in your area and get the deed typed up on the stamp papers by your attorney.

Step 5: Visit the Sub-Registrar's Office with the builder or other transacting party along with two witnesses. Carry passport-size photographs, Aadhar or PAN card, an original copy of the deed, and 2 photocopies along with you.

Step 6: Pay the registration fee, which is typically 1% of the stamp duty. After registering the deed, you will be given a receipt. Keep this receipt safely.

Step 7: 2-7 days after the registration of the deed, you can go back to the Sub-Registrar's Office to take the sale deed. Make sure to carry the receipt with you.

Step 8: Get the sale deed verified using the registry details from the Sub-Registrar's Office.

Additional Read: What is a Stamp Duty? How to Calculate Stamp Duty Online?

What Should I Keep in Mind?

Remember that unless you get your house registered, you will not be considered the legal owner of your house. In any future disputes, the Sub-Registrar's Office will not have a copy of your deed and thus will not be able to help you.

If you do not register your deed before 4 months from its date of execution, you can ask the Sub-Registrar to entertain your request, but you may have to pay up to 10 times the original registration fee as a fine. Apart from the hefty price tag that comes a house purchase, the costs of stamp duty and registration fee can add up to leave a hole in your pocket. If you’re looking to buy the property of your dreams, don’t let finances come in the way. Consider applying for a Tata Capital housing loan to finance your purchase in quick and easy steps. Tata Capital's home loan feature the most flexible home loan eligibility criteria and repayment options along with low home loan interest rates starting at just 9.25%. For attractive housing finance options, apply for a home loan with Tata Capital today.

Additional Read: Hidden and Additional Costs Involved While Buying a New House