Process to Register Property, Stamp Duty Calculation in Hyderabad, Andhra Pradesh
Hyderabad is one of the top famous state in the field of Internet Technology (IT). Andhra Pradesh is also called as a Pearl city of India which have the largest range of real pearls. The growth of the city focused many of the investors and lot of those people who want to invest their money in various properties which is located in Hyderabad city.
The concerned department of registration in Andhra Pradesh Government carries out the role of registration activities which is now a days very visible.
It is quite simple to do the process of registration in Hyderabad. You are required to fill the Registration form in a prescribed manner and also required to pay the required registration charges levied by the state government.
In rural and urban areas of any state, the registration charges will vary district wise. As you all know that the property registration is very important it plays a vital role in property transactions. And more over the Property registration is very important as it involves the transfer of ownership legally in Hyderabad.
If any individual is looking to invest his/her money in properties in Hyderabad, then the individual is required to follow the furnished process of registration of property.
- For this first you are required to visit to the respective Sub Registrar office with having following important documents.
- You are also needed to carry the Patta/Legal ownership documents in the name of Owner issued by the Revenue Department under the Seal of the Tahsildar.
- Encumbrance certificate which states that the said property does not having any legal dues pending on the date of purchasing of land/property.
- More over one needs to know that the property is transferable and heritable. At the time of transfer of the property in your name, you must check all the relevant documents related to payment of taxes, power bills, water bills etc.
- Please make sure that all the bill payments are paid by the seller before proceeding with other formalities.
- If any applicant is going to buy the property in Hyderabad, then it is unfinished without the final Sale Deed.
- This Sale Deed is arranged or ready through your lawyer within two days of time and it will cost about Rs. 7000/- only.
- You are also suggestd to deposit the Stamp Duty and other related fees at the bank of the state. Here I am giving you the details of calculation of Stamp Duty.
All municipal corporations: 9.5% of the property value = 7% for stamp duty (plus) 2% for transfer fee (plus) 0.5% for registration fee
Special and selection-grade municipalities: 9.5% of the property value = 7% for stamp duty (plus) 2% for transfer fee (plus) 0.5% for registration fee
Other places: 9.5% of the property value = 6% for stamp duty (plus) 3% for transfer fee (plus) 0.5% for registration fee.
- When you go to submit the stamp duty and registration fee, then that time you are required to submit all the legal papers at the Sub Registrar Office. All the required documents are required to be submitted are given as follows which you are required to submit with the presence of 2 witnesses.
- Please submit 4 recent passport size photos of the authorized signatories of both parties.
- You are required to submit the Photo Identity of both the party and witnesses- such as, passport or Identity card such as voters is card, ration card copy.passport, driving licence.
- Submit the Certified true copy of the Resolution of the Board of Directors’ of both seller and buyer
- The applicant are also needed to submit the Power of attorney in favour of the person executing the sale deed
- Submit the photo of he property concerned.
- Approach route map to the concerned property from the nearest landmark/main road
- Notarized affidavits from both parties to attest that the transaction respects the terms of the ULC act
- You are also required to submit the latest receipt to show payment of municipal tax to Municipal authorities. The documents are submitted to the reader of the Sub registrar of Assurances for scrutiny
- After the successful enquiry process, the reader point out the stamp duty and registration fee required. Here the stamp duty & registration charge are to be deposited to the concerned bank.
- After the depositing the required fees amount, all the relevant documents will be shown to the Sub Registrar by the parties along with the bank receipt.
- Then the retailer surrender the physical control of the property to the buyer at the time of deed is presented for registration.
- After that the approval will be made on the document after the end of procedure at Sub Registrar office.
- The copies of the documents will be attached in two files in which one will be make in the name as Name and Property and the second will be make as Accounts and Reports.
- The document is distributed to the owner after giving the payment receipt and the registered documents are returned to the owner on the same day.