Registration
A complete guide to what "Registration" means in real estate and how it applies to property transactions in India.
Definition
Registration in real estate refers to the legal process of recording a property transaction with the sub-registrar of assurances, as mandated by the Indian Registration Act, 1908. It makes the transfer of property legally valid and creates a public record of the transaction.
Use of Registration in Real Estate
In India, registration is compulsory for the transfer of immovable property valued above ₹100. The registration process involves payment of stamp duty (5-7% in most states), registration fee (1%), and execution of the sale deed in the presence of the sub-registrar and two witnesses. In Karnataka, registration is done through the Kaveri Online portal. Without registration, a property transaction has no legal standing and cannot be used as evidence of ownership.
Key Takeaway
Understanding "Registration" is essential for making informed real estate decisions. Always consult a qualified professional for advice specific to your situation.
Disclaimer: This glossary is for educational purposes only and does not constitute legal or financial advice. Definitions may not reflect the most current regulatory changes. Please consult a qualified professional for guidance specific to your transaction.