1) registration charges woukd be around Rs 30000 maximum

2) check whether seller has original documents of title

3) obtain no dues certificate from society

4) obtain NOC from society for sale of flat

5) you can take title search of flat

Sir to purchase flat first you have to verify the title of the seller.

Then a sale agreement can be prepared for sale and on payment to the Seller a sale deed can be paid. The sale deed need to be necessarily registered and stamped the stamp duty is percent of selling price along the cess and registration charges in maharastra.

See the title search is done to verify the title of seller because in case there is an issue in title there can be long drawn litigation. So to check that all documents need to be verified like the revenue records, old sale deed, municipal tax, society maintenance, Occupancy certificate, share certificate and membership of society.

You have to do the title search to confirm that the property is free from any charges if everything goes fine the registration is very normal you have to purchase the stamp paper for the value as required on the basis of Property value to be registered and the sale deed is prepared on the stamp papers for registration in the registrar office both the parties will visit the registrar office along with their KYC and property documents for the registration

If you are buying a flat, the stamp duty is payable on the basis of the Undivided Share (UDS) of the property. So, if there are 5 equal sized apartments made on 5000 sq feet land, then each member needs to pay stamp duty for 1000 sq feet area.

You can visit the official website of your respective state government to know the updated stamp duty charges and other related details.

How to pay stamp duty?

There are three officially recognized ways of paying stamp duty:

Non- judicial stamp papers

This is one of the most common methods to pay stamp duty. Here, all the details pertaining to the agreement are either written or printed on the non-judicial stamp physical papers purchased from a licensed vendor. The value of stamp papers will be equal to stamp duty applicable. After ensuring the correctness of the content, the stamp papers are duly signed by the executants.

Here is what you need to watch out which documents

1. Personal details

The agreement must capture the seller’s complete details. This includes father’s name, address, PAN number and bank account information. It must also provide exact details of the property’s location and municipal, tehsil (administrative division) or collector’s land record number. The agreement ought to be witnessed by two people, each from the buyer’s and seller’s side.

2. Title documents

“The seller must confirm the authenticity of the title documents and ownership transfer in the agreement,” explains Puri. “He must also state clearly that the transfer and handing over of possession, is happening in a legal and fully-attested manner. The agreement must reflect the fact that all dues related to the property, have been cleared up to the date of transfer.” Further, the agreement must fully indemnify the buyer from any disputes related to title and possession of the property.

3. Date of possession

“The date of possession of a flat is important to the purchaser, for the purpose of transfer of the flat from the builder. It is the date on which the purchaser is to get possession of the premises and binds the developer to hand over possession by the date set out in the agreement.

4. Payment schedule

“The clause which sets out the payment schedule, lays down the total amount to be paid and the time frame within which it is to be paidm

5. Termination

The termination clause defines the consequences imposed on the parties in case of deviation from the code of conduct expected to be adhered by them. The agreement may contain either a ‘termination by convenience’ clause where either party can end the agreement.

6. Dispute resolution

The dispute resolution clause sets out the mechanism by which the parties can resolve their disputes. This is alternative to settling the matter through litigation. Besides this, other processes used to settle commercial contracts include adjudication and mediation.

7. Amenities

The amenities clause helps the purchaser know the additional benefits he will be entitled to and mentions the supplementary amount towards maintenance charges. In case of any default on the amenities sought to be provided, the purchaser may consider it as a breach of contract.

8. Penalty

A penalty clause should be incorporated in the purchase agreement, clearly specifying milestones and the penalties in case of failure from both, seller and buyer.

Finally, registering a legal purchase agreement, is of benefit to the buyer, since it offers protection from legal complications at any stage of ownership or eventual resale. No change can be made once the purchase agreement is drafted and registered. If any change needs to be made, the consent of the buyer must be obtained and an addendum will be made in the agreement.

Hello,

I would suggest you to take Title search as it will show you if the property is free from encumbrances or not. If you decide to take Title search then the Advocate would need all the previous title related documents in respect of the flat.

Further, from the registration stand point, you would require a draft of sale deed / agreement to sale (depending upon the consideration terms and in case if you are availing a loan). The sale deed will have to be registered in Sub-Registrar, Haveli by paying requisite stamp duty and the registration fees.

Hope this helps.

Regards,

Adv. Prafulla Paranjape

Hello,

It is essential to investigate the title of the seller before investing on any immovable property.

As part of due diligence for investing in a Re sale flat in pune, you should ask the seller to provide you with the chain of Agreements/Sale Deeds, Share Certificate issued by the Society,

Utility Bills i.e. Property Tax Bill, Society Maintenance Bill, Electricity Bill.

If you are purchasing from a Builder, you can ask him for the copy of 7/12 Extracts of the land,

Copy of Conveyance Deed/Development Agreement by which the builder became entitled to construct the building,

Building Permissions, Occupancy Certificate issued by the Pune Municipal Corporation.

Registration of the Agreement for Sale shall cost you 1% of the Agreement value, subject to a maximum of Rs. 30,000/-

Hope it was helpful.

1. Registration charges are 1% of market value of flat

2. Stamp duty 5% market value of flat

3. Clerkage - inquire locally

4. Lawyer's fee - depends from lawyer to lawyer

5. Good practice to get search report before buying property. Many also issue public notice in addition

This is my response to you:

1. Is this going to be a resale flat?

2. If yes then do a title search;

3. All the documents of the previous owners and other title records will be provided to you;

4. You must make sure that your local lawyer vets the document well and spots any kind of mistakes;

5. Make sure you see the 7/12, 8A form, sale deed papers, whether they are properly stamped and registered, whether if there is any government/individual claim on it, if there is no pending legal case etc.

Firstly, please go for the title search for sure.

Secondly, you may go to the registrar’s office to inspect the property chain of the present property.

Thirdly, you may also go to the local police station to search for any pending litigation over the same property.

Fourhtly, registration charges may differ from state to state and the person on whom the property is getting registered.

Fifthly, as for women and senior citizen stamp duty is less in comparison to the male.

Yes the title search is always preferred.

You may contact a lawyer who will then see the documents of the paper in the registrar office.

PROCEDURE

A sale deed will be executed.

Please get in touch with a local lawyer.

Regards

Yes, it is advisable that you check the title of the this property/your builder before you invest in his project.

The non-encumbrance certificate and the chain deed for past few decades is to be checked during the title search.

You will have to approach the Office of the concerned Sub-Registrar to get this the sale deed registered.

Your builder will help you with the drafting of the sale deed and its registration.

There are plenty of documents to be obtained from vendor, for example:

The title documents and link documents, tax paid receipts, building plan approval, encumbrance certificate, title search, other relevant documents.

You may first obtain copies of all documents, produce them before a lawyer in the local, after that opinion based on the said and additional documents may be obtained before buying it.