Formalities for Registering a Flat/Apartment

Purchasing an apartment often requires a lot of time and work. However, the process is still worthwhile since you are investing your money in a fruitful asset. In the long run, property investments will always yield positive returns. Therefore, it’s essential to follow the right purchasing procedure and register the property wisely. 

It is necessary to register a property to get legal ownership. Accurately registering a property after carefully reviewing all required documents will help you avoid potential legal issues in future. Although there is a cost of property registration, it is necessary to safeguard buyers in case of any future disagreements. 

How to Register a Flat/Apartment in Kerala?

The following procedures are involved in property registration:

• Find a Document Writer/ Advocate: To complete the property registration process, find a trustworthy Advocate or Document Writer.
• Purchase Stamp Papers: To start, buy stamp papers based on the estimated stamp duty, which are computed using the current rates.
• Disclosure of Property facts: Ensure all the required clauses and terms are included in the document. Verify all the prior deeds and other related documents like encumbrances, tax receipts, property sketch etc. After that make the document and upload the deed online at the registration portal.
• Registration Fees Payment: After uploading the deed online, pay the registration fees and charges. After that, the deed will be verified by the Sub- Registrar and complete the registration procedures with the relevant parties to the transaction.

Online Property Registration In Kerala

Here's how to register a property in Kerala online, step-by-step:

• Step 1: Click on "online applications" after opening the Registration Department portal.
• Step 2: Generate a new token and create your user login.
• Step 3: Choose the transaction type, district, taluk, and sub-registrar office, then fill out the necessary details.
• Step 4: Fill in the document's details, the executant and claimant's information, and any other required data.
• Step 5: You can pay the stamp duty and registration charge online if they total less than Rs 1 lakh.
• Step 6: Verify the payment by going back to the registration portal after you've made it.
• Step 7: Download the e-stamp, which will show the GRN (Government Reference Number) and serial number.
• Step 8: Click "View Token," then choose "Accept and Submit" to set up your appointment.
• Step 9: Carefully check the summarized information for any mistakes. In the event that everything is accurate, select "Accept and Proceed." An acknowledgement sheet with your appointment information at the sub-registrar's office is generated by this action.
• Step 10: Come into the sub-registrar's office on the day and hour indicated on the acknowledgement sheet to complete the registration process. Send the registrar the report printout and any associated paperwork.

You will receive your property's sale deed upon registration success.

The Significance of Stamp Paper When Buying a Flat

Stamp duty is essential for secure and effective real estate transactions, Although it can sometimes be seen as an extra expense. Here is why it is important

• Enforceability and Validity: A properly stamped document serves as evidence that the applicable tax has been paid. This gives the document legal legitimacy and enforceability in court. The transaction could be jeopardized if documents are not stamped or are not stamped correctly and cannot be accepted as evidence.
• Accountability and Openness: The transaction value is recorded by Stamp Duty. This transparency discourages tax fraud and ensures more fair competition in the real estate sector.
• Market Stability: Stamp duty has the potential to occasionally act as a restraint on speculative activity in the real estate industry. Regular cost-based transactions can encourage a more stable and peaceful marketplace.
• Protection of the Buyer: Even though the buyer usually pays for properly stamped documents, the buyer's interests are ultimately protected by them. Because it ensures a clear and legal transfer of ownership, there are fewer unexpected conflicts.
• Revenue Generation: Stamp duty is a significant source of funding for governments. Ultimately, this revenue serves the interests of society as a whole since it is used to fund various public services and infrastructure development projects.

Legal Formalities for Registering a Flat

It’s important to go through all legal documents before completing the registration process. Read more about legal formalities for registering a flat. 

Conclusion

For registering a flat in Kochi, Kottayam, Thiruvalla, Trivandrum, Thrissur, Calicut or anywhere in Kerala, all of the previously mentioned paperwork- including title documents, tax receipts, power of attorney documents if required, building related approvals etc are required. These shall be gathered from your builder and the relevant authorities.

Your flat registering process may be affected by a number of issues if you fail to produce any of them when required. Keep this guide close at hand so that you may consult the checklist of property paperwork whenever necessary to ensure that you purchase a home in Kochi, Kottayam, Thiruvalla, Trivandrum, Thrissur, Calicut or anywhere in Kerala worry-free.