It is very important to get information about spending in the plot and land registry, as it is a major financial decision for the buyer. When you buy a plot or land, you have to face many expenses like circle rate, stamp duty, and court fees. Understanding these expenses will help you manage your budget better.
The most important expenses during the plot and land registry are stamp duty and registration fee. The stamp duty is usually a certain percentage of the market price of the property, which is determined by the state government. In addition, the registration fee is also charged as one percent of the property value. Apart from these expenses, you may also have to pay legal fees and other minor fees.
Stamp duty and registration fee observation
The table below gives a detailed description of stamp duty and registration fee in various states of India:
| State | Stamp duty | Registration fee |
| Uttar Pradesh | 7% (male), 6% (female) | 1% |
| Rajasthan | 6% (male), 5% (female) | 1% |
| Punjab | 7% (common), 5% (woman) | 1% |
| Maharashtra | 5% to 7% (for different types of assets) | 1% (less than 30 lakhs), maximum Rs 30,000 |
| Delhi | 6% (male), 4% (female) | 1% |
| Tamil Nadu | 7% (common) | 1% |
Spending in land registry
Many types of expenses are included during the registry of land, some of which are prominent:
- Stamp Fee: This is a certain percentage of the market price of the property, which is determined by the state government. For example, it is 7% in Uttar Pradesh, while for women it can be 6%.
- Registration Fee: This is usually 1% of the property value, which is given to register ownership of property in government records.
- Circle Rate: This is the minimum rate at which the property can be registered. This rate is determined by the government and ensures that the price of the property is registered at least at this rate.
- Legal fee: This includes the lawyer’s fees and the cost of preparing other legal documents.
Spending in the plot registry
The registry of the plot also includes almost the same expenses which are in the registry of the land. However, some additional fees may also have to be paid during the plot registry, such as the cost of making a map and the processing fee in the registry office.
Documents required for plot and land registry
The following documents are required for the plot or land registry:
- Sale Deed
- Stamp Paper
- ID Proof
- Address proof
- PAN Card
- Circle Rate Certificate
- Map (map)
How is the registry process
The registry process includes the following stages:
- Preparing documents: preparing and verifying all the necessary documents.
- Payment of stamp duty: Paying stamp fee on stamp paper.
- Going to the Registration Office: Going to the Registration Office with all the documents and applying for the registry.
- Registration fee payment: Paying registration fee.
- Realizing Registry Certificate: Getting Registry Certificate after completion of the registry.
Online process for registry
Online registry facility is also available in many states, which makes the registry process easier. In the online process, you can apply for the registry sitting at home and upload the required documents.
Benefits of online registry
- Saving time: Online process saves time because you do not have to visit the registration office.
- Facility: This process is more convenient and you can do all the work from your home.
- Transparency: All stages in the online process are transparent, which shows you at which stage your registry is.
Registry problems
Some problems may occur many times during the registry process, such as:
- Lack of documents: If the necessary documents are not met, the registry may be delayed.
- Circle Rate Problem: If the value of the property is lower than the circle rate, then the registry may face problems.
- Legal issues: The registry process can stop due to any legal dispute.
conclusion
Plot and land registry can be a complex process, but if you are prepared with all the necessary information and documents, this process can be easily completed. It is very important to understand and be ready for expenses such as stamp duty, registration fee, and circle rates. In addition, you can make this process even more simple by taking advantage of the online registry process.
Disclaimer: This article provides general information and does not give personal advice for a specific state or situation. The expenses involved in the registry process and the rules change over the field and time, so it would be appropriate to contact the local authorities.
