What is property registration?
The Registration Act 1908 applies when it comes to property registration in India.
The key purpose for which the Act was designed was to make sure information about all deals concerning land were correct and proper land records could be maintained. The Act is used for accurate recording of transactions relating to other immovable property.
The Act provides for registration of other documents also, which can give these documents more legitimacy. Registering authorities have been provided in all the districts for this purpose. Information about Registration - India's Registration Act 1908
What is the date of stamp?
This is the date of Stamp paper purchase or date of Franking or date of certificate or embossing.
What is the date of execution?
This is the date of signing by executants.Sub Registrar classifies the nature of document based on The Stamp Act and The Registration Act.
What is the consideration amount?
This is the price paid or agreed to be paid for the property mentioned in the document.
What is the market value?
Market value is that estimated by the Market Value Committee or consideration shown in document, whichever is higher.
-If parties do not agree to Government’s guidance value, they may appeal to District Registrar.
-In such cases the Sub Registrar will refer to the District for determination of market value under section 45 A of The Karnataka Stamp Act, 1957.
-The stamp duty and registration fee are calculated on consideration or guideline market value, whichever is higher.
What is the stamp duty?
This is the total amount of stamp duty paid by the party.
-If calculated stamp duty is more than the amount of duty paid the Sub Registrar will demand party to pay the difference.
-Party may pay the difference in form of challan/DD/Pay order.
-If he refuses to pay required amount Sub Registrar will impound the document and send to District Registrar under Section 33 of the Karnataka Stamp Act.
What are the supported documents to be attached?
These are additional enclosures required for document registration e.g. RTC, Form 60 and 61 PAN, Form No. 1, Form No. 9, Form No. 10, Declaration, Affidavit and NOC.
-Sub Registrar checks whether appropriate support documents are attached and also checks their validity and correctness.
Who is the presenting person?
This is the person who presents the document in front of the Sub Registrar for registration. He must be executing, claiming party or his representatives.
-Sub Registrar checks whether a presenting person is the right person to present the document.
- If presenting person is power of attorney holder then appropriate proof of the same is verified; if the person is exempted under Section 88 of The Registration Act, Sub Registrar insists for passport-size photograph. If not, passport-size photograph will be insisted.
-Sub Registrar verifies whether all executants are present or not.
-After scrutiny Sub Registrar decides whether the document can be registered immediately or not.
-Sub Registrar records presentation procedure by affixing Stamp number 1 (Presentation Stamp) mentioning the date and time of presentation.
How to payment of fees?
Sub Registrar issues receipt of fees on payment of appropriate fees (Registration fee, Copying fee etc). On payment of all fees Sub Registrar affixes Stamp number 2 (Fees stamp)
-The executing parties sign in front of the Sub Registrar on the document and also put their thumb impressions in front of their signs as a part of admission procedure.
What are photographs and thumb impressions?
Photograph of each executing and claiming parties are required. The photographs, signs and thumb impressions are taken on the backside of the page generally 2nd or 3rd page of the document.
What is the admission stamp?
When all executants' admission procedure is completed the Sub Registrar affixes the Stamp number 3 (Admission Stamp) on the document.
-If the executing party is unable to be present in the Sub Registrar office due to unavoidable reasons such as illness, then Sub Registrar may visit the residence of party for completing admission procedure. Such procedure is called as ‘Private attendance'.
-Appropriate fees are collected from party for such process. The details of such visit will be recorded in Minute Book.
-If the document contains payment of consideration amount in front of Sub-Registrar the ‘payment of money’ procedure is followed in front of Sub Registrar. If the party pays specific amount of money to other party (generally seller) by means of cash or DD, the Sub Registrar will make appropriate endorsement on the document regarding the same.
-If admission of execution is not completed, the Sub Registrar keeps the document pending by giving reason as admission is not completed. Sub Registrar then calls the witnesses for completing the procedure of identification.
What is the procedure of documentation?
After all the above mentioned procedures are followed, Sub Registrar will register the document by assigning final document number and makes a note of the same in appropriate book. He orders registration and record date, page number, volume number with document number (serial number from book) and puts round seal also called as Stamp number 5.
- The registered document is then copied or duplicate copy of the same is kept with office.
- Appropriate support documents are filed. Maps, plans will be filed in Supplementary Register to Book I - part II kept for copy of maps and plans.
- Various index entries are made like Index I (Nominal index) and Index II (Descriptive index) (For wills separate index is prepared as Index III).
- The Daily register of fees is maintained which contains the details about fees and stamp duty, mutation fee, etc. Every document, applications presented are entered in this register.
- Separate cash book is maintained which contains summary of receipts and payments.
- Details of all such books, indexes, registers and other miscellaneous reports are discussed in Reports and letters section (Section 188.8.131.52.3)
- If Sub Registrar keeps a document pending, he assigns pending serial number to the document (Format as PXXXXX/
- If there is any deviation in the document registration procedure then such details are written in ‘Minute Book’.
- Various fees charged are mentioned in schedule of ‘Table of Registration Fees’ of the Karnataka Registration Act, Rules 1965.